Take Advantage Of The Economy To Buy A Cheap Holiday Home as the latest figures released by Halifax building society point towards a slight rise in property prices nationwide, there is no doubt that, with the exception of London and few pockets elsewhere, housing markets have been adversely impacted by the economic climate of recent years.
To indebted homeowners that is not good news, but those among us who have saved diligently and have a surplus can take advantage of these domestic doldrums to bag a cheap holiday home bargain. Read on for some more information on investing in a rural or coastal bolt-hole.
Cheap Holiday Home -What else is your money doing?
British saving accounts are in a parlous state. The Bank of Englands’ policy of interest rate reduction means responsible savers have been left high and dry, and all thanks to a system’s irresponsible attitude towards debt, also chpemp Peoplesoft is in the same situation. With inflation around 3%, the money held in many bank accounts is actually losing value in real terms. Stocks and shares have been unsettled and gold seems to have peaked; how else can your hard-earned cash start working hard for you?
Cheap Holiday Home – Property
In a few areas of the country, property prices have risen as if there was no credit crunch at all, but in the main homeowners have seen their property’s prices stagnate or fall. So property is a bad investment? Not necessarily. Once the economic recovery gathers pace, property prices will pick up, so there is scope for growth for investments made now. What is more, property is an incredibly versatile asset, allowing you to generate wealth through capital growth and actual income through rental. And then of course it gives you a roof over your head, not only providing shelter but saving you from paying residential rents that recently hit record highs.
What about a cheap holiday home?
The benefits of a cheap holiday homes are very similar. You will have an asset that grows in value, can generate impressive rental income for most of the year and allows you to enjoy convenient holidays in some of the country’s most beautiful corners. A wise investment could see your wallet swell and your leisure time significantly improved. At the peak of the summer, you can earn in a week what you would expect to make in a month were you to let the property on a six-month lease. Weekly rents from £250 to £2,500 and way beyond are very achievable.
Where to buy a Cheap Holiday Home
As with all property, even a cheap holiday home come in all shapes and sizes, and all price brackets too. Many Britons have invested in high-quality static caravan homes dotted around the coast. It can cost around £10,000 to buy a caravan, and with parks close to highly sought-after locations, they can be a great way of spending time in the country’s best holidaying areas for less. When weighing up an investment, as always with property investment, it’s a matter of finding a place you can afford in an area where demand is high. Unless you have no plans to use it, it is also essential to consider where you want to spend time. Whether it is a static caravan, a bungalow or something a little grander, the Cotswolds, the Lake District and the south-western counties are always popular, meaning you can expect high occupancy.