How to Increase the Value of Your Holiday Home
Owning a holiday home is not only great for regular retreats away from your busy day-to-day life, but a fantastic long-term investment, too.
Many holiday homeowners also let out their property to other holidaymakers, to increase their income.
For many years, owning virtually any kind of property has proven to be a very safe investment that will gradually increase in value over the years.
However, there are many ways in which you can increase the value much more quickly, without waiting for the market to rise.
In today’s blog post, we will be looking at various ways in which you can add value to your holiday home.
Some will require more investment than others, but with careful planning and some thrifty spending you can see some fantastic returns on your investment in terms of increased property value.
And, if you let out your property to other holidaymakers, many of these improvements will also help to attract more guests and enable you to command higher rental fees.
Let’s begin with our first investment to increase the value of your holiday home.
Install Artificial Grass
There are many reasons why installing artificial grass at your holiday home is a fantastic idea and it’s a great way of adding value to your property, too.
Sadly, it’s unlikely you’ll get to spend very much time at your holiday home and therefore it needs to be as low-maintenance as possible, so that you don’t spend the little time you do have at your additional home doing chores. Let’s face it, that’s not a holiday at all.
Even if you do get to spend lots of time at your holiday home, the last thing you want to be doing is carrying out unnecessary maintenance tasks while you’re there.
Of course, artificial turf never needs cutting, so you won’t have to worry about returning to an overgrown lawn with grass up to your knees or finding a reliable gardener to mow it in your absence – the costs of that can really start to add up, too.
Artificial grass is pet- and child-friendly, which will make your property appeal to a far wider demographic if you let out your holiday home or look to sell up in the future.
It can also be used all year round as there is no mud or mess, and it’s great for entertaining your guests or hosting garden parties.
If you would like a professional to install your fake lawn, we can help with that, too. Every member of our network of trained installers has the necessary skills and experience to install synthetic lawns to the highest standard. For a free quote from your nearest NeoGrass Approved Installer, please click here.
Install a Hot Tub
One of the most sought-after features of a holiday home is a hot tub.
There is nothing better than relaxing in a hot tub to help relieve tension and stress.
Hot tubs can actually offer a host of other health benefits, too.
The buoyancy of the water helps to ease pressure on joints and muscles, whilst the heat can help to increase blood flow, which in turn can accelerate the body’s healing process.
Studies have also shown that relaxing in a hot tub can help lower blood pressure or even assist with weight loss.
In addition, having access to a hot tub at your holiday home will not only improve the time that you spend there, but it’s also an excellent way to increase the value of the property – it’s sure to appeal to future potential buyers. It’s an attractive proposition to renters, too.
Update the Essentials
With any property, not just a holiday home, it’s very important to ensure the main essentials are clean, functional and modern.
The kitchen and bathroom are showpieces of any holiday home and therefore should be areas where you look to allocate a significant portion of your budget.
Having a big, open-plan kitchen can make a huge difference to your holiday property, as the kitchen is the main social hub of any home and it’s where you or your guests will spend a large proportion of their time.
Modernising both your kitchen and bathroom doesn’t necessarily have to be costly, either. Renewing countertops and/or cupboards, or giving things a fresh coat of paint, can make a world of difference at a low cost.
Installing a dishwasher, if there isn’t one there already, is also a good move. It will be a very welcome addition.
However, should either your kitchen or bathroom be in need of a bit more than a lick of paint, don’t be afraid to consider ripping everything out and starting again, as any money spent on these key areas is often recouped in terms of additional value to your property.
Consider an Extension
When it comes to property value, bigger is often better and, should you have enough funding to extend your holiday home, then you should certainly consider it.
There are several ways in which you can extend your property.
Depending upon access and ceiling heights, it may be possible to add an additional bedroom and en-suite in the form of a loft extension.
Or, you could extend the property to allow for a larger kitchen or additional bathrooms. Many potential buyers prefer to have as many bathrooms as possible, so extending your holiday home to allow for this is a wise investment.
The downside to an extension is that, quite often, it can be a disruptive process, so it is important to carefully plan ahead and aim to have the work completed in the off-season. That will minimise inconvenience – and loss of earnings, if you let out your property to holidaymakers.
Create a Games Room
Many holiday homeowners rent out their property to holidaymakers when they are not there themselves.
If this is something you do with your holiday property, then creating a games room is an excellent investment.
You might not need to extend your existing property to do this, as you may be able to convert an existing room, such as a spare bedroom or an outbuilding, at virtually no expense.
For a little more expense, you could convert an unused garage or loft into a games room.
Purchasing items such as a pool table, dart board, table tennis table, pinball machine, jukebox and board games will transform the room into a fantastic games room.
By offering areas where your guests can have a fun experience, you help make your holiday home more attractive to holidaymakers and so increase your positive reviews. This, in turn, will enable you to demand higher rental fees and reduce the time the property stands empty, as well as increasing the value of your holiday home.
Investing in your holiday home is a wise financial move. Property has been a safe investment for many years and, if you spend wisely on the best type of holiday home improvements, then you’ll likely see excellent returns on your investment.
What’s more, you’ll enjoy yourself all the more when you finally get to spend time at your holiday home.
And, if you rent out your property to paying guests, you’ll sure to see an increase in demand.
Our final piece of advice is to make sure you use competent tradesmen to carry out your renovations. Some of the simpler tasks can be carried out by the competent DIYer but, if you are not sure what you are doing, hiring a professional will save you money in the long run.
The quality and finish are sure to be of a much higher quality if work is carried out by a professional. It will also save you hours of effort and possibly frustration – and remember, your holiday home is meant to be a place to relax.
If you have a holiday home, we’d love hear about some of the ways you have managed to increase the value of your property, so make sure you leave us a comment below with your tips and ideas.
As always, thanks for reading.