New Fire Regulations 2023: Guidance for Holiday Lets in England
Ensuring the safety of your guests is an important part of being a self-catering accommodation owner. It’s vital for...
In recent years, Britain has enjoyed a staycation boom with more of us choosing to holiday in the UK. Thinking of buying a holiday let in St Ives? Our holiday home owners have benefitted from unprecedented levels of demand and are achieving excellent rental yields. But it is important to do your homework!
Here at Carbis Bay Holidays, we have been successfully managing and marketing holiday homes here for over 20 years. We have a wealth of experience and knowledge to advise you on buying a holiday let, along with how to maximise your return on investment.
Use the quick links below to navigate to a particular topic or read on for our complete guide to buying a holiday let.
Aside from your personal preference, when buying a holiday let it is important to choose a location that has appeal for holiday makers. A prime position in Carbis Bay or St Ives will ensure a high volume of bookings and a good return on investment.
Central St Ives and the immediate surrounding areas are a really popular location for a holiday let, but sometimes come with limited parking. Properties in Carbis Bay (seaward side of the St Ives main road) are often more sought-after by guests. These properties tend to offer a sea view and the convenience of off-road parking.
We find the most popular properties are coastal, preferably with a sea view, and within walking distance to a beach or the South West Coast Path.
Close proximity to good amenities is one of the most influential factors in a guest’s choice of holiday home. Being situated within easy reach, or better still, walking distance to a pub, restaurant, shops and visitor attractions will boost a holiday home’s desirability and booking performance!
For more details on where to buy a second home in St Ives, read our blog.
The top money-earning features chosen by guests are:
Some form of outdoor space. Whether that is a garden, patio, terrace or a balcony, is a top priority for holiday makers!
If you are buying a property to renovate or make improvements, it can be worthwhile budgeting to finish it to a high specification. Our luxury homes enjoy consistently high demand.
If you are aiming to achieve good year-round occupancy, a log burner is an excellent asset to attract winter bookings. And it can achieve you 14% more income.
Unfortunately, there are still some areas in the South West that suffer from poor connectivity and slow speeds. Remember, good Wi-Fi is a must for today’s guest.
An additional bathroom, a swimming pool or a hot tub are some ideas on how you can add value. A property with a hot tub generates 54% more income than other properties in the same region.
We have seen a growing awareness of the human impact of travel with 20% of guests wanting to book more sustainable holidays. If you are buying a holiday let, consider giving it some eco-friendly credentials.
If you are buying a second property to rent out it’s important to ascertain who your typical guest will be.
Properties with four or five bedroom will attract groups and multi-generational families with children of all ages. Aim to offer ample space for all guests to eat, sleep and relax comfortably with a good ratio of living space to bedrooms.
On the other hand, if you are buying a one or two bedroom holiday let, your guests will include couples, small families and friends.
For many guests, a holiday home is the perfect place for special occasions such as a romantic getaway, birthday, anniversary or honeymoon. They are willing to pay a premium and expect the price to reflect the quality.
Holiday homes with modern or period architectural features, smart home technology, indoor/outdoor living, entertainment, gourmet amenities and spa inspired bathrooms get noticed! For more advice on styling your holiday home, read our blog.
Perhaps your holiday home and the area are well suited to dog owners. Dog-friendly holiday cottages generate 11% more income.
If you require financing to buy your holiday let, you will face increasingly stringent affordability criteria from mortgage lenders.
They often require a letter from a reputable holiday letting agent to confirm the anticipated gross weekly rental for the low, mid and high season. We are a recognised source for lenders and can provide an annual projected income to support your mortgage application.
As with all investments, buying a holiday home to let comes with some risk. Our property team are ready to help you avoid the pitfalls and assist you though every aspect of buying and letting.
What happens next? The next step in your holiday letting journey is up to you.
If you are thinking of buying a holiday let in St Ives, we would be happy to provide potential income figures for any home you are considering. So, you can see how much return you could make from your holiday home investment.
We are also happy to provide our other guides that may support you through the letting process, including more detailed information around our marketing and property management offering, health and safety advice, as well as furnishing and inventory tips.
If you have just purchased a property, get in touch with our knowledgeable property team who can provide you with an income projection, along with guidance on getting your holiday home ready for letting.
To get in touch, simply call the office on 01736 809675 (select option 2) or email us at newowners@carbisbayholidays.co.uk
Hi, I'm Jenny! I joined the Sykes family in October 2021. Devon born and bred I have a huge love for the South West. The West C...
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