If you are considering buying a holiday home in Cornwall, there are so many options when it comes to...
Our property expert for Cornish Cottage Holidays, Janine Woods, shares her many years of knowledge about buying and letting holiday properties in Cornwall.
In recent years, Britain has enjoyed a staycation boom with more of us choosing to holiday in the UK rather than abroad. Our holiday homes in Cornwall have benefitted from unprecedented levels of demand and are achieving excellent rental yields for owners. Buying a holiday home to let can be a fun and highly lucrative endeavour, but it is important to do your homework.
If you would like to know how much your investment will return, let us help you. We have been managing and marketing holiday homes successfully in Cornwall for over 50 years. We have the experience and knowledge to advise you on buying a holiday let and maximising the return on your investment.
Aside from your personal preference, when buying a holiday home to let, it is important to choose a location which has appeal for holidaymakers. A prime tourist location will ensure a high volume of bookings and a good return on investment.
Generally, the best locations are coastal, preferably with a sea view, and within walking distance to a beach or the coast path. However, let’s not forget areas of natural beauty, peaceful countryside and picturesque towns and villages, which offer a different appeal.
Close proximity to good amenities is one of the most influential factors in a guests’ choice of holiday home. Situated within easy reach, or better still, walking distance to a pub, restaurant, shops and visitor attractions will boost a holiday property’s desirability and booking performance!
We successfully let all types and styles of holiday homes; character cottages and hyper-modern apartments as well as grand country piles, rustic barns and luxury pads.
Ultimately, it all comes back to giving holidaymakers what they want.
Here we share some of the ‘top money-earning holiday features’ chosen by our guests:
Holiday lets with some form of outdoor space, whether it is a garden, patio, terrace or a balcony, is a top priority for holidaymakers!
If you are buying a property to renovate or make improvements, it can be worthwhile budgeting to finish it to a high specification. Our luxury homes have seen a 39% growth in demand.
If you are aiming to achieve good year-round occupancy, a log burner is an excellent asset to attract winter booking and will achieve 14% more income.
Unfortunately, there are still some areas in the South West that suffer from poor connectivity and slow speeds. Remember, good wifi is a must for today’s guest.
An additional bathroom, a swimming pool or a hot tub are some ideas on how you can add value. A property with a hot tub generates 54% more income than other similar properties in the same region.
We have seen a growing awareness of the human impact of travel with 20% of guests wanting to book more sustainable holidays. If you are buying a renovation project, consider giving it some eco-credentials.
For more information on how you can make your holiday property more environmentally friendly, see our eco-friendly blog.
If you are buying a 4 or 5 bedroom property, you will attract groups and multi-generational families with children of all ages. Aim to offer ample space for all guests to eat, sleep and relax comfortably with a good ratio of living space to bedrooms.
On the other hand, if you are buying a one or two bedroom holiday home, your guests will include couples, small families and friends.
For many guests, a holiday home is the perfect place for special occasions such as a romantic getaway, birthday, anniversary or honeymoon. They are willing to pay a premium and expect the price to reflect the quality with good investment in interior design, fixtures and fittings. Holiday homes with modern or period architectural features, smart home technology, indoor/outdoor living, entertainment, gourmet amenities and spa inspired bathrooms get noticed!
Perhaps your holiday home and the area are well suited to dog owners. Pet-friendly properties earn 11% more income who don’t accept pets.
It is a good idea to speak with us to establish what the potential rental income might be from your investment. If you require financing to buy your holiday home, you will face increasingly stringent affordability criteria from mortgage lenders. They will often require a letter from a reputable holiday letting agent to confirm the anticipated gross weekly rental for the low, mid and high seasons.
We are a recognised source for lenders and can provide a letter including an annual projected income to support your mortgage application.
As with all investments, buying a holiday home to let comes with some risk. Our property team is ready to help you avoid common pitfalls of holiday letting. We are here to assist you through every aspect of buying and letting. Get in touch today to find out how we can help you by emailing us.
For more information about letting your cottage with us, visit our Let Your Cottage page or contact our knowledgeable team on 01326 336773 (select option 2).