To most of us, a vacation home isn’t even a blip on the horizon. You would love a place in the sun, but you’re pragmatic about the fact that it’ll never happen. There’s no way on earth you can make your budget stretch to property abroad.
But, what if we were to tell you that vacation properties are a more workable option than you realize? Property abroad is often significantly cheaper if you know where to look. While popular areas can be pricey, searching off the beaten track could see you finding affordable options. Properties like these can also pay for themselves sooner than you might think. Keep reading to find out how.
You’ll save a fortune on travel
Using a travel property three or more times a year could also save you on travel costs. As long as you were able to find the cheapest deals on flights, you’d be able to jet off and not pay for anything more than bills in a house you won’t spend much time in anyway. You can bet, then, that these won’t exceed the price of two nights in a hotel. If you like to get away a lot, you could well find that property pays for itself in less than ten years of use. And, that’s before you even consider the rental income we mentioned above.
A chance to vanquish your vacation spending
Of course, it isn’t only travel itself which costs us when we get away. Most of us also spend a fair amount on things like food and drink during our stays. If you get away a few times a year, spending here could come in at over a grand. That’s a whole load of money which you haven’t got much choice to spend when staying in a hotel. You won’t have a kitchen, after all, and you’ll hardly want to stay in of an evening. By comparison, having a property of your own could see you spending no more than fifty euros on a food shop for the week. This welcoming household setting could even see you buying drinks from a food store. That would save a fortune you would otherwise spend in local bars.
Overseas properties provides a source of income
In hot climates, you can bet that there will always be someone looking for a rental. This is especially the case for prime tourist destinations. If you manage to find cheap Spanish property for sale, then, you could soon cover the cost by renting the place out when you aren’t there. You would only need to charge a couple of hundred a week to see significant returns. With sites like Airbnb, you don’t even need to have much rental know-how to make this work. You could advertise to potential guests across the world, and reap those rental benefits without much effort at all.
With all these savings in mind, can you really afford not to take the travel property plunge?