When looking for an overseas holiday home there are a few things that are absolutely essential to making the purchase a viable investment.

Before we get to the nitty-gritty, first comes the question, what do you want to use it for? Will your holiday home be an escape for you and your partner on long weekends or will it be somewhere for the whole family to come together?

Every holiday home is different, and owners have different needs. In order to settle on the best location for your holiday home, you need to streamline what you want from it.

On the right, we’ve highlighted areas that are increasingly popular with holiday homeowners, so feel free to browse the best of Rightmove – you never know, your future holiday home could be key-ready and waiting!

Step 1: Make a list of priorities for your overseas holiday home

Close your eyes and imagine this: it’s a year from now and you’re relaxing on the porch of your overseas holiday home as the sun starts to rise. Take a look around, and ask yourself: Where are you? Is there a pool? Is the kitchen big and inviting for families to come together and cook, or is it small and tidied away? Do you want a garden to tend to or is surrounding greenery enough for you?

These are all questions to ask yourself. Once you have a good idea of what you’re looking for, make a list of priorities that are non-negotiable and ones that you’re a little more lenient on.

Step 2: Location, location, location

One thing essential for holiday homes is that they have to be easy to get to. After all, you don’t want to be spending hours and hours in the car after landing at the airport, do you?
If you have a place in mind, make sure to map out the journey you’d take to get to your holiday home. Are there frequent flights from your nearest airport? How will you get from the airport to your home? Is there a regular bus service or will you need to use a taxi service?

Step 3: Visit the area

Just as any overseas buyer planning to emigrate would schedule a viewing trip, it’s a good idea to book one for yourselves – especially if you’ve not been there before.

Estate agents can be really useful for their expertise if you are still lost on where to look for a property. They are seasoned experts in helping buyers, just like you, find a place that takes their priorities into consideration.

It’s important to consider what you’ll need to access when you’re in your holiday home. Key amenities include a supermarket, post office, local pub or bars, restaurants, beach and takeaways (always good to know).

On top of this, it’s good to ask around about maintenance services – how easy is it to get home help, after all, someone will have to keep the property in good shape while you’re not there.

Step 4: Plan for ongoing costs

How many days out of the year do you plan to be in your overseas holiday home? If you plan to split your time equally, you may be able to get by completing all maintenance yourself. However, if it is to remain empty for more than half the year, you may want to consider hiring a management company to look after it while you’re away.

This can be really handy, especially if you’re looking to let the place out or have other family members or friends use the property as the management company can arrange for key handover, fresh linens and ongoing maintenance.

These things do, however, cost money, so it’s important to plan for the ongoing costs of your holiday home. These costs will include property taxes, management fees, running costs, insurance and maintenance, licenses and any decorating or furnishing you might need to do.

Step 5: Speak to a currency specialist (before you buy!)

We always recommend our trusted partner Smart Currency Exchange to aspiring overseas buyers. Not only can they help you manage the risk of dealing with the fluctuating currency market when you plan to buy, they also offer regular and automatic payment plans.

These regular payment plans can be extremely beneficial for overseas homeowners as it saves time, trouble and the expense of making foreign transfers individually.

For more information on regular payment plans, speak to Smart Currency today for a free quote and to be assigned your very own personal trader.

Written by PropertyGuides for Rightmove