Overseas holidaying VS Holiday home ownership
When it comes to making a decision between going on holiday abroad versus buying your own holiday home, there are lots of things to consider before choosing the right option for you and your family.
With pros and cons of each method and a bit of confusion over the different types of ownership available, we’ve taken a quick look at the perks of both holidaying overseas and holiday home ownership to help you make the right decision.
We’ve also broken down your different ownership options so you can find the best one for you!
Read on to find out more...
Perks of holidaying overseas
When it comes to going abroad, taking a one-off holiday is still the most popular option in the UK, with 56% of people taking a holiday overseas.
This type of vacation is a great choice for those people who don’t want a long-term commitment, as owning a holiday home definitely isn’t for everyone. With contracts, bills, and the responsibility for another property, some people find it easier to take individual holidays abroad instead.
Holidaying overseas is also a great choice for those people who want lots of variety from their trips abroad as it allows you to travel to various different destinations as opposed to one single location where your holiday home is based.
So, if you think holidaying overseas is the best option for you, check out our stunning range of luxury holiday accommodation here at Royal Westmoreland.
Perks of holiday home ownership
Holiday home ownership became popularised in the early 2000s and has increasingly become a mainstay of UK life, with an estimated 246,000 people having a holiday home abroad.
There are lots of perks to owning a holiday home and, here at Royal Westmoreland, we think they’re the best option for people looking to soak up some sun.
With your own holiday home, you can benefit from another source of income if you choose to rent out your home when you’re not using it, with some Barbados properties bringing in up to £400 a night. This means that even after paying your bills and taxes, you’re more than likely to end up with a nice profit!
Plus, you can also save money even without renting out your property. When you own a holiday home, your expenditure when going abroad will only cover flights and spending money rather than costs of accommodation, which means you could save some pennies on a long-term investment.
You’re also likely to save money if you plan on using your holiday home at peak periods; rather than paying inflated accommodation prices, you just pay the same bills and taxes as you would any other time of the year!
Additionally, one of the best benefits of a holiday home is that you can go on holiday at the drop of a hat. Because you already own the place, you don’t need to spend hours finding a place to stay. Instead, you can just book your flights and go!
Finally, by owning a holiday home you become part of a community. At Royal Westmoreland, we pride ourselves in the home from home, community feel within our estate.
We have people returning to their homes at the same times each year or staying year-round, meaning it’s easy to become fast friends with neighbours. This can be a real benefit if you’re planning on moving abroad, as it creates a support network for the early days when you’re adjusting to life in Barbados.
Different types of home ownership
Now that you know the benefits of holiday home ownership, what are the different options?
Full ownership is essentially what it says on the tin: you buy a holiday home and are the sole owner of the property, meaning you can do with it as you wish. This is a long-term investment but it means you own your own slice of paradise!
Fractional ownership is a great option for those who want to own a property without the full commitment. With fractional ownership, you own a share in a property along with other investors and get to use the home at allocated times of the year.
So, if you think holiday home ownership is the right option for you, check out our range of holiday homes available here in Barbados!