The number of people deciding to own a second home is on the rise, with 30% more people owning one since 2000. A second home is the perfect place to relax when you want to get away from your regular home, another place to make wonderful memories, make new local friends, and explore another location. We’ve put together a list of some of the reasons why owning a second home is so great.
1. It’s a quick and easy holiday.
One great thing about having a second home is that it is basically a holiday location that you can go to whenever you please.
You wouldn’t have to worry about packing too many things as you could choose to leave a lot of essentials at the second home for you to use whilst you’re there. At the drop of a hat you can have a perfect, stress free holiday away – for as long as you like!
2. You could use it to make a profit.
When you’re not using your second home, you could potentially rent it out as a holiday home. The stay-cation is on the rise in the UK, and North Wales is ever-increasing in its attractions for tourists.
You’ll need to think about how often you would like to use your property yourself, and consider that there will be quiet months too – but if you can manage it, you’ll have the best of both worlds. Just remember to get holiday home insurance!
3. The familiarity of the location.
If you’re coming back to the same place for a while away, it can be comforting as you get used to the area and know your way round. This gives you the freedom to be yourself, and also gives you the opportunity to make some long-term friends with other locals.
4. It’s a good location for gatherings.
A great location with lovely people can create wonderful memories. If you’re a member of a large family, or have a big group of friends then you could have them round for special occasions – which can feel that extra special when you all get away for it.
Visiting your second home together could even become a yearly tradition over a certain period or holiday, this can help keep relationships close with your loved ones.
5. Marketing your second home as a holiday home can be easy.
There are lots of websites you can list your property on to let it out as a holiday home.
Websites like Airbnb and Homeaway just require you to upload some images along with some extra information on facilities and availability and you’re good to go!
6. Beneficial tax laws.
If you choose to let your apartment out as a holiday home, it will be subject to better tax laws than it would be as a standard rental property. This is because it would be seen as a trading business venture rather than just a way of investing money.