Whether you’ve just spent the weekend away in a secluded bushland retreat, or holidayed in a home just metres from the beach, you may have wished you had a holiday home you could visit whenever you wanted.
The idea of purchasing a holiday home can sound very enticing – you generate income when you rent it out and you can enjoy it free of charge when you stay in it.
In fact, there are many pros associated with owning a holiday home. First, there’s the obvious enjoyment of a property that you can escape to without much planning or money required.
If you rent out the property to tenants, you can also benefit from additional income, as well as the various tax advantages associated with owning an investment property.
Even if you don’t make a lot of profit, it can help you pay for things such as insurance and maintenance of the home.
Another benefit of owning a holiday home is that it can become your place of residence after you retire.