If you’re getting out of the city to take a well-earned break this summer, you won’t be alone if your mind wanders and you daydream about owning a holiday home.
Such a luxury is the goal of many Australians, who love the idea of somewhere to escape and maybe spend their golden years in more laidback, stress-free surroundings.
Birdsong and waves crashing onto the beach are better for your soul than the hubbub of traffic and aircraft. But does owning a holiday home make sense?
This list of holiday home pros and cons offers some tips on how to choose one that will give you years of enjoyment, preparing you for the moment when you catch a fish or take a bushwalk and think: “I could get used to this!”
Your passion
Australia offers three primary choices of holiday homes: in the bush, in the snow or on the coast. Include all the family in deciding your ideal location as their love of your holiday home will add to your enjoyment.
Keep it close
Properties more than a two-hour drive away tend to be used sporadically. Finding the energy for a long journey is usually saved for holidays and long weekends. As a result, you won’t use it as much as you might anticipate.
Size matters
Look for a property that suits your family’s needs. Don’t get distracted by the allure of renting it out on Airbnb to large groups and making some money. The last thing you want is for your holiday home to become someone else’s party house.
Easy access
Consider the precise location carefully. If you don’t want to be in town, remember you’ll need to jump in the car every time you need bread and milk. That can get tiresome.
Workflow
Arguably, the biggest issue with a holiday home is maintenance. If you don’t fancy spending half your vacation mowing lawns, trimming hedges and fixing leaky taps, buy something that requires minimal effort.
The fit-out
Don’t take shortcuts here. You’ll soon get frustrated if your home lacks internet access, adequate lounge seating or a decent cooker and oven. Treat it like a second home rather than a bolt-hole, and you’ll enjoy it far more.
Re-sell appeal
It’s easy to fall in love with the quirky and esoteric. Before you purchase your “wonderfully unique home”, ask yourself if you could find a buyer quickly should you ever need to sell. If not, walk away.
Renting option
Deciding to rent your holiday home is a big decision. If you want to be the property manager, you’ll find it a lot of work. Otherwise, a property manager at a local real estate agent will take the role for a 7% commission. And remember, no one will treat your property with the care you do. So be prepared to fix issues and damage. (Oh, and don’t forget to reserve the dates you want to be in your holiday house, or someone else will take them!)