For a number of years now, buying a holiday home in Cornwall has become quite fashionable. You can release some equity from your main private residence in the city and buy an idyllic stone fronted cottage in a sleepy fishing village, nestled delightfully amongst similar properties with views over the sea and dramatically rugged coastline.
You and your friends can then jump in the car on a Friday evening and be installed in front of a cozy fire tucking into fish and chips before bedtime. After a fantastic stay you can be home again for business commitments within a few hours, flushed from bracing walks over the cliffs and totally recharged.
Well, that’s the dream scenario, but what is the reality? Unfortunately there can be issues that are not immediately considered, such as maintenance of the property, managing utilities and cleaning. You may then decide to rent the property during periods that you don’t plan on using it, there are after all numerous websites and companies only too happy to arrange bookings and market on your behalf. This creates another potential problem: who is responsible for ensuring all linens are laundered, the fireplace and chimney have been swept, all the light bulbs are working for when guests arrive? You could, but it might be something of a hassle, not least due to the travelling to and fro. Of course there are plenty of friendly locals who would be happy to ‘do’ for you which is reassuring but can raise issues of reliability and cost.
This is where ownership at The Residence offers an attractive alternative. By buying into an existing and successful resort you know with confidence that your holiday home is being professionally managed and maintained. Any problems; the washing machine breaks down the maintenance team are on hand to resolve the problem and any others that may arise.
When you arrive for your much anticipated break you confidently know that the property will be spotlessly clean and ready for you to enjoy without any worries or concerns.
Oh dear, the following day is miserable, weather wise so the kids who are bursting with energy can make use of all the facilities on site, from indoor swimming pool to the climbing wall. And when the clouds lift, why not have a game of tennis, take in a wildlife walk or a ride on the state of the art mountain bikes down the nearby mining trails.
So what about rental income? Making the most of your investment is simple at The Residence, with high occupancy rates, excellent proactive marketing and a professional booking system in place, all ensures that as an owner you will maximise your income potential.
And if that isn’t enough The Residence offers a guaranteed return of 6% net of all fees and charges for the first two years of ownership.
Another reason to consider buying a holiday home within a specially designed resort is the impact on the local community. Sadly it has been noticed that many villages are ‘dying’ as more and more properties are being bought by non-locals. The damaging effect of this is two-fold; firstly the property is only occupied for a limited amount of time per year, meaning that population levels drop so that there are not sufficient permanent residents to maintain shops and services and that over time these close. Secondly, the purchasing power of a non-local may be far greater which can then artificially push up the price of housing so that traditional residents are forced to move out. This damages the long term viability of the village and ironically kills what originally made the place attractive.
So, be good to yourself and the locals and consider buying property within a resort.
For more information about ownership options at The Residence, contact David Leadbeatter:
T: 01209 844 137