HOW TO MAXIMISE THE RETURNS ON YOUR HOLIDAY HOME There are a range of factors that motivate people to buy a holiday home, investment being one of them. We caught up with Jordan Property Group’s Sue Jordan to find out how you can make the most of your investment property.
Q: Does the location of your holiday home impact the return on your investment? A: Definitely, you have to do your research. In South East Queensland, there can be oversupply in coastal areas, so if you are looking to buy here you have to make sure the property is unique in some way. Don’t just do what everyone else is doing, because you won’t stand out. You have to always think to yourself, “why would someone choose to stay here over anywhere else?”. Ultimately, your holiday home is a business, and for businesses to make money they have to out-do the competition.
PROPERTYMASH.COM the place to search for new property
Q: What should readers bear in mind when choosing a location?
Q: When it comes to choosing the actual property, what are the things to look out for?
A: Make sure people have a reason to go to that area, whether that is being next to a beach or tourist attraction; or being close to a sports stadium, conference centre or big hospital. Transport and parking are also major considerations depending on your target market.
A: It is important to remember there is a big
ALWAYS BUY WHERE YOU WOULD WANT TO HOLIDAY, CHANCES ARE OTHER PEOPLE WILL WANT TO GO THERE TOO.
difference between an investment property you rent long term and a holiday home that you also rent for short stays. If you don’t intend to use it yourself, the property you choose could be entirely different. When you’re researching make sure you work out your Rate vs Occupancy. Your short-term rental doesn’t have to be full all the time to make money, and conversely, it doesn’t have to have a high price per night to bring in a big profit — as long as you get the bookings.