Professionals Real Estate 
As the summer holidays come to an end, it’s easy to think wistfully of your downtime by the beach or the bush and wonder if it’s the right move to buy a place in the paradise you love.
Holiday houses are a rite of passage in Australia and owning one of your own is a pretty special experience. With remote work now the norm, it’s also a lot easier to extend a weekend mini-break by an extra day or two.
Before you ring the local agent and start scrolling through property listings in a distant postcode, here are a few things to think about:
1. Holiday house location (and reality vs expectations)
Holiday destinations feel special when you’re visiting, but can you really see yourself coming back time and time again? Will you be happy to make the trip on a Friday night after work and home again on Sundays throughout the year?
The ideal holiday house is within three to four hours of where you live. This makes a short weekend getaway more manageable and you’ll be able to visit more often.
Look at the local amenities and think about the getaways you want to enjoy. If you’re miles from shops and cafes the novelty may wear off (unless that’s exactly what you are looking for).
Think about who will visit the home with you—is it child friendly or will you have room for guests if you plan to invite them?
2. Affordability
Holiday homes are an investment, and you need to look at your numbers before you commit. Maintenance costs, the price of furnishing the place and things like cleaning and gardening all add up.
Speak to your broker and accountant, and do your due diligence so you know you can comfortably meet the repayments for your new place.
3. Leasing options
You probably won’t be travelling to your holiday home every single weekend, so leasing it to other travellers can balance your cash flow. However, the home will probably need a different setup if you do this, with storage for the things you don’t want your guest to access and more durable furniture and carpet (red wine has a way of getting spilled, especially by visitors).
You can list your place on platforms like Stayz or Airbnb but before you buy, have a look at the competition in the area. You don’t want your place to be the last choice for holidaymakers as it will end up being empty and not delivering the cash you need to cover ongoing expenses.
4. Quality of the home
It’s easy to fall for a charming cottage or a beachfront shack, but don’t let the romance appeal distract you from potential issues. Is the house in good condition, or will it drain your wallet with endless repairs? Will it be warm enough in winter and cool enough to enjoy a relaxing retreat in summer? Unless you love roughing it, you’ll need to make sure the home is comfortable for you and your family.
5. Investment Potential and Long-Term Plans
Your holiday house is an investment that should grow in value over time and give you positive financial returns. Do some research about incoming infrastructure and demand in the area. A new tourist attraction like a mountain bike park or festival may improve the value, or a change in zoning may make it less desirable for holidaymakers and future buyers.
Think about your long-term goals as well. If you plan to retire to your favourite holiday location, make sure there are hospitals and reputable doctors close by. If you think you will sell the place once the children have grown up, factor in capital gains tax as it will impact your overall returns.
Looking for a holiday house? Talk to the Professionals
Avoid the pitfalls of buying a holiday house by connecting with an experienced local real estate agent. Reach out to explain what you’re looking for, and let your local Professionals operative be your guide.
