It is often said that business and pleasure should not be mixed but those who say that have obviously never considered purchasing a holiday home, because that is exactly what you are going to get when you buy one. Holiday homes are not only a great way of enjoying some vacation time in a home-from-home set in a beautiful resort but they also present you with a wonderful option to do business and make some money.
Having recently invested in one of Las Olas Beach Club condos on the stunning For Lauderdale coast and having pondered the idea for many years I can honestly say that I am delighted with my choice to not only buy a holiday home but also in the location which I decided upon. If you have been considering buying a holiday home then here are just a few reasons why you should go ahead and do it.
Home Comforts on Vacation
Having a holiday home enables you to take a vacation whenever you like and be safe in the knowledge that your accommodation is going to be your very own, your own style, your own designs and your own personal touches. This allows you the peace of mind that when you are on vacation you will be able to maximize your relaxation and feel comfortable throughout your stay.
Many approach vacation homes in a slightly imbalanced way and focus far too much on the possible revenues which they can receive. The revenue that you can make through owning a vacation home, through rentals and through cap appreciation can be very positive but you should ensure that it is as much a place that you want to spend your vacations as it is a place where you can make some money.
It is important that you strike a balance between a property which can provide you with revenue and one in which you want to stay in yourself. Owning a holiday home does not mean that it needs to be occupied the whole year round and as long as you have tenants staying a few months of the year then this will be enough to cover the costs of your property and the agents as well as paying for your flights the next time you want a vacation, all of this whilst the value of the property grows.
Holiday home owners receive great tax benefits such as non-payable tax on rental income and are also allowed to make deductions on their mortgage refinance. Aside from the tax benefits you will have rental-free vacations, be able to leave much of your items in the property meaning that you can travel lighter and easier. You will also be able to help out friends and family with a place to stay when they wish to take a vacation. A vacation home could even prove to be a nice play for you to consider retiring to and you could also allow your children to stay there as they grow up to teach them about living on their own.
These are just some of the reasons why a holiday home is a great investment and my advice would be not to ponder any more and go ahead and buy.