The question of whether it is worth buying a holiday home in the UK is asked more often these days. The COVID travel bans affected how we view our summer holidays, but with global economies suffering, more people are looking to their own shores. So naturally, they want memorable summer holidays but also to invest in bricks and mortar, a time-honoured concept that real estate is the only investment in global financial storms. For decades, the UK has reigned supreme on the holiday home market, having enjoyed a long-time reputation for the good old-fashioned UK getaways. But, as always, research potential real estate investment thoroughly to ensure it pays off. So, in this article, we look at reasons to buy and where?
Should I Buy a Holiday Home in the UK?
1: UK Tourism in Abundance
The main factor luring property buyers is the vital tourism industry, interesting attractions, and masses of places to go. So, this makes the UK suitable for summer holidays and those who want to let out their property for rental income. As a result, demand for holiday homes is strong, and if the property owner invests time into creative marketing skills, this can recoup high occupancy rates.
2: Good Transport Network Throughout the UK
The UK’s transport network is top-notch, making getting to holiday homes even more accessible. Even Cornwall, tucked away in the southwest corner, has good transport links. Continued road improvements also benefit drivers. Regional airports also run cheap and regular flight schedules. This makes the UK an excellent option for impromptu weekends away with the family.
3: Holiday Home Occupancy Potential
One downside to buying new property abroad is international flight schedules. While overseas homes sound good, your occupancy potential and holidays are tied to flight schedules. In countries like Turkey, these drastically reduce in winter, which forces buy to let property owners to rely on the summer months. However, with the UK’s tourism industry running all year round, homeowners have maximum opportunities to achieve reasonable occupancy rates, and enjoy a holiday whenever they want.
4: Familiarity Counts for Everything
Holiday home owners often cite countries like Turkey as having lower property prices. Yet they still opt for the UK, and the number one reason is familiarity. While owning holiday homes overseas brings many benefits, home buyers are entering a new real estate market, and they have no knowledge or experience in many cases. In addition, there is the yearly maintenance and upkeep, as well as potential language barriers. So while many holiday homeowners abroad have made successes out of property purchases, many more opt for UK properties to stay with what they know and are familiar with.
5: Cheaper and Greener Than Travelling Abroad
Consumers are increasingly aware of the environmental impact of daily living. Concern about climate change is a prominent global issue. New UK Holiday homes are eco-friendly because they reduce the carbon footprints of domestic tourists by reducing flights and feature energy savings concepts. Additionally, the costs saved on flight tickets give more money to spend.
6: UK Tax Benefits for Landlords
Properties classed as furnished holiday lets are businesses with favourable tax breaks, and allowances from furnishing the property to running costs are tax deductible. Additionally, capital gains tax incurred is low, and most qualify for relief on business rates while being exempt from council tax.
7: Easier to Plan Holidays At Home
Once you have bought the property and settled into the ownership aspect of it, holidays become easier to plan. The downside of owning property abroad is that more organization needs to go into it, from scheduling time off work to arranging flights and transfers. Additionally, more time is spent on maintenance and paying bills when owning property abroad. So, one advantage of owning a UK holiday home compared to abroad is less hassle and stress.
Where to buy a UK Holiday Home
Yorkshire: As Britain’s most significant historical county, Tudor houses, narrow cobbled streets, and the famed cathedral ensure the region earns much fame and earn it the nickname “God’s own country.” Sitting in Northcentral England, Yorkshire’s two national parks boost its outdoor potential, attracting 6 million tourists annually. Popular places include Wharfedale, Craven, Harrogate, Ilkley Moor, and the Pennies. At the same time, the Yorkshire dales feature many villages and scenic landscapes like Malham and Bolton Abbey estate. Another bonus is that Yorkshire is easy to get to, whether this is via the airport, motorways, or train. (See property for sale in Yorkshire.)
Lincolnshire: When talking about Lincolnshire, most people think about Skegness, yet there is much more to this beautiful countryside. Sitting in the East Midlands with a gorgeous coastline fronting the North Sea, Lincolnshire is known for its cycling and walking trails. Local nature reserves also highlight flora and fauna, and then there is the beautiful cathedral city with cobbled streets and top-class restaurants.
Lincolnshire is an all-rounder. In Bardney in west Lincolnshire is Southrey village. It’s the best place to invest in holiday homes and permanent residences. Southrey belongs to the Lincolnshire Fens’ 400,000 hectares, extending north from Lincoln and Boston, south from Cambridge, and west from Peterborough. Southrey is ideally located near Bardney Abbey, and Tupholme Abbey ruins along the Witham River banks. Visit the pretty woods between Southrey and Bardney that form part of Bardney Forest and show nature at its best. (Holiday homes for sale in Lincolnshire.)
Isle of Aaron: Heading north to Scotland, the isle of Aaron has boosted its reputation as more people seek to buy holiday homes there. Sitting off Scotland’s west coast, the island has earned the nickname “Scotland in miniature” and separates into the lowland and highlands. Thanks to its growing profile, tourism and holiday home sales dominate the local industry. Home buyers are attracted by the stunning landscapes, wildlife diversity, rivers, lochs, and beaches, providing surreal escapes from the trappings of modern UK life. For potential holiday lettings, rental yields range between 9% and 15% for holiday apartments in the Isle of Aaron.
What to Look for in a UK Holiday Home
Firstly, don’t compromise. Holiday homes should offer every comfort your permanent residence does. Also, consider various holiday homes, including cottages, apartments, and bungalows. Additional extras include sofa beds, hot tubs, and balcony / outdoor terraces with lakeside, pool, or forest view. While most holidaymakers don’t cook, homes still include decent-sized kitchens for self-catering renters. Finally, what activities are on offer? Look at historical attractions, county pubs, walking trails, and places to pursue your hobbies and lifestyle pleasures.
New Property Showcase
Holiday Lodges in Lincolnshire: We present these holiday lodges in Southrey. Guests are spoilt for choice with a traditional pub and restaurant, river frontage location, mooring jetty and village pub. Sitting just twenty-five minutes from Lincoln City, with its medieval cathedral, also visit Woodhall Spa mineral springs and play at The National Golf Centre near Woodhall Spa. All two and three-bedroom lodges come with decking, a hot tub and complete furnishing. The two-bedroom lodges sleep six, and the three-bedroom lodges sleep eight. All homes are pet and family-friendly, and some holiday lets have disabled access.
Residents enjoy many social and lifestyle amenities on-site like table tennis and pool, children’s outdoor playground and games console room. There are also relaxation areas, cinema, fully equipped gym and cardio suite, landscaped gardens, lake and picnic areas, BBQ with decking, sun loungers and tables. While the manager’s office, gated entrance, CCTV, and 24-hour security give complete peace of mind. These grand lodges within a beautiful area offer excellent value for money. Reasons to buy include
- Fully managed strategy
- 8% yield for up to 10 years with fixed annual increases.
- Tax-free income from FHL tax breaks
- No ground rent, service charge and site fees to pay during the assurance period.
- Developer buy-back option with up to 10% capital growth.
- Great On-site facilities and activities.
Call or email us today to chat further about whether it is worth buying a UK Holiday home, renting out, and property ownership. As an experienced UK real estate agent, you can also pop into our Surrey office. Alternatively, our messaging feature on this website connects instantly with an advisor, or you can view our full range of property for sale in England here. Our knowledge of popular holiday and letting properties in England ensures less stress and a wiser investment.