Source: Unsplash | Zosia Korcz
Dubai is one of the biggest tourist destinations in the world. While relaxing and enjoying your time, it is good to visit Dubai real estate agencies and browse the offerings. Imagine regularly staying in one of your favourite holiday destinations without paying for accommodation. For most people, buying a holiday home offers double dose of benefits- enjoying their holidays while making money at the same time.
Here are the features to look out for when buying a holiday home
Location
Your first and highest priority is to consider the location of the vacation property. It should be an area that can act as your home-away-from-home. In order to gain an understanding of the location, it is advisable to spend considerable time in the area, not just a weekend. If it is possible, you should stay for several weeks or longer to fully determine whether the location can stand the test of time. As opposed to staying in a hotel, buying a holiday home is a long-term commitment. Therefore, you have to make sure the location is favourable. Most of Meraas off plan projects in Dubai are placed in prime locations across the country. For instance, Sur La Mer townhouses are located in the Jumeirah 1 district which is a popular tourist destination.
Cost involved
A holiday home is similar to any other investment property. So, you will have to consider all the cost involved such as utilities, maintenance, management and other related overheads. The vacation home can turn into a nightmare if the expenses exceed your budget.
Management
Most likely, you will be spending only a few days or weeks a year in your vacation property. It is advisable to get a reliable management company to manage your property. Apart from maintaining the property, the management company will also ensure that the property is consistently occupied and cleaned when you are not around. Renting out your rental property in your absence may be a good way to make money.
Due diligence
Getting the right vacation property where you can enjoy your holiday while making money at the same time does not happen by accident. Before buying a vacation property, it is very important to conduct due diligence. For instance, make sure the property can attract holiday seekers to make the investment viable. In most cases, holiday destinations have high seasons where the prices are increased to meet the increased demand. If the holiday season coincides with your holiday time, you may have to forego the increased earnings.
