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How to make your second home pay for itself

28th April 2017

How to make your second home pay for itself

We are in one of the UK’s most popular tourist locations. On our doorstep, we have West Wittering’s blue flag beach, Goodwood, Rolls Royce, I could go on and on. Let’s face it, you love the area enough to purchase a second home here! There are many people who love the area as much as you do and are looking for self-catering accommodation in the area.

In reality how often do you get to use your second home? A few weekends over the year? Maybe a couple of months? The rest of the time you will be paying a mortgage on a place that isn’t being used…or will you? The secret to owning a great second home is making it pay for itself. By renting out your West Sussex retreat, you can offset or completely pay off that extra mortgage, and will still be able to enjoy it! It’s a win-win situation.

There are a number of reasons for the rise of the ‘staycation’, Brexit and the fall of the pound being prime examples. Some of which are likely to be contributing factors when you made the decision to purchase a holiday home in the UK. The increase in the number of people choosing to holiday in the UK rather going abroad can only mean one thing for you … £££!

This is just the holidaymakers in the UK, the fall in the pound makes it expensive for us to travel abroad but a cheaper option for those looking to come here. Overseas residents made 2.9 million visits to the UK in January 2017 alone! Spending 1.5 billion on their visits! Surely these people stay in hotels you may be thinking…. Some yes, however for holidaymakers, the additional space and privacy a holiday rental offers compared to that of a hotel room is hugely attractive. Having self-catering accommodation that allows them to save money on the cost of eating out is another plus point that you have to offer.

So we have established there is definitely the demand, now how do you go about renting your second home and generating an income? Have a look at our website to see how we can help.

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