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The Pros and Cons of Owning a Holiday Home

The Pros and Cons of Owning a Holiday Home

The dream of owning a holiday home can quickly turn into a nightmare if you don’t weigh all the pros and cons. Even though having a second residence is fun, it can be costly and troublesome.

Work from Your Holiday Home

In today’s world, you can even work from your holiday home if you bring your computer. If you are self-employed or work for a firm that lets you work away from the office, you can relocate there all summer.

This means you can take a much longer vacation and get away from the problems of day-to-day life for longer periods of time. You can also have more time to enjoy your favourite recreation activities.

Savings and Costs

A holiday home can save you a lot of money on hotel bills and restaurant tabs. You won’t have to pay for a room, and you can do your own cooking, which means you’ll pay far less for food.

That being said, you still have to pay taxes, insurance premiums, gas and electric bills, satellite television, and other expenses. You’ll have to keep it maintained, which will also cost money. Something to remember is that when you double the number of homes you own, you double your expenses.

If the holiday home is in another country, you may need to own or rent a car once you arrive.

Another expense you will have to consider is hiring a caretaker to look after your holiday home when you are not there. There are companies that provide this service, but they will charge a hefty fee.

Mobility and the Lack of it

Many people enjoy being able to go to the same location each year for their holidays. They like the idea of staying in the same home and sleeping in the same bed. Yet others hate it and think it takes the fun out of holidays.

If your money is tied up in a holiday home, you may not be able to take other trips, say that trip to France you’ve always dreamed of. You may have no money left over for other longer trips.

A holiday home can be a pleasant retreat, but many people quickly discover that it can also be a burden. So make sure you carefully weigh all the pros and cons before investing in a holiday home.

For more information on buying, or renting, a holiday home, visit South Lakeland Lodges.

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