No one else will care about the property as much as you do. It’s your money, your house, so you will want to be involved, and that takes time and energy.
My wife and I have renovated numerous properties, and we have also built a holiday home from scratch. The frequency and intensity of the decision making is never to be underestimated.
It is easy to say, but you must do everything you can to make sure the build does not become a nightmare. It is your dream and your retreat, so if it keeps you awake at night with worry or becomes something you hate doing there’s a risk the magic of the dream house will be ruined.
Building is very exciting and potentially profitable – but just make sure you are going in with both eyes open.
In contrast, if you choose to buy an existing holiday home, particularly one which has been functioning as such in the past, it may already be fitted out and have repeat business lined up so you can hit the ground running.
With this in mind, I would suggest you start making friends and connections in the area, even before you think about buying or building.
You may already have them. If you have been holidaying for years in one area you may already be part of the community in some way. However, out-of-towners coming into holiday areas and buying second homes is an ongoing matter of controversy and so should be handled with sensitivity.
There are clear arguments on both sides. On the one hand, we know that second home owners buying properties in a local area pushes up prices, and there is one less home on the market for locals.
However, the other side of second home ownership is that it injects outside money into the local community and economy. This can have a significant impact, particularly if owners are visiting during the off-season when tourism levels fall.
