How to Choose the Right Investment Property

When you are looking to buy a holiday home as an investment property there are very different considerations to be made than when buying a family home for yourself. This article will focus on the purchase of Sunshine Coast real estate and consider how to go about acquiring such a property.

The considerations

1. Temporary Tenants

When looking to buy a holiday home to rent your market will be very different even from traditional rental properties. It is important to consider what type of people will be seeking to rent your home and invest in something which will enable flexibility. A beachside property will necessarily attract wealthier people because renting a house for a fortnight or a week is far more expensive than renting a hotel room. They are also likely to be a family or a group of friends so the sleeping arrangements need to be flexible to cater for either a family or for multiple couples.

Those looking to rent a house for a holiday will generally require cooking facilities but the location and other amenities will be the biggest of their worries. There is no need to invest in a property with a fantastic kitchen as the holiday makers will likely eat elsewhere for the majority of the stay. Consider the advertisement when looking to buy this type of property because phrases like ‘beachside location’ and ‘close to restaurants’ will make the property far more appealing than ‘spacious kitchen’.

2. Aesthetic Appearance

When buying a property that someone will spend just a week in, it is much more important to buy aesthetic appeal. Whilst you can be happy in you slightly oddly shaped and confined family home, this is not the case for holiday homes. People want space, modern living and style on their holidays so they will seek the sexiest villa. Consider whether the house is one that you would want your holiday photos to capture because that is what people will be doing. When making this purchase it is important to consider the potential photographs you could take for travel magazines. Remember that you need to be able to sell this property to customers again and again.

3. Access

Location is always important when investing in property but this even more important when you are buying a property to rent regularly. After a long haul flight or a huge drive across the country, your customers will not be pleased if they have to struggle to find the house. It is also important to remember that holiday revellers will most likely wish to have a few drinks when they go out to eat and will then either need to walk back or get a taxi. This is more difficult if the property is in the middle of nowhere.

The location in proximity to amenities is as important as the location in relation to the beach. People obviously visit the Sunshine Coast with a view to spend time on the beach so your property will need to be near the sea. Being able to advertise the beach as being ‘5 minutes’ walk away’ or ‘just down the road’ will greatly increase the property’s attraction.

Exploring the potential

When exploring the potential of buying a property on the Sunshine Coast it is wise to familiarise yourself with the area and what it has to offer. When you are conversing with potential customers it is important to know the area and what it has to offer so that you can pitch it to them. Be sure to spend some time in accommodation in Noosa so you can familiarise yourself with the area and have a fantastic holiday whilst you do so.

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