Call now on

01244 356666

Or complete the form for a
FREE owner information pack

I am *

Buying, owning and selling a holiday let

What is the best location to choose? What is the ideal property size? What features will maximize my property's letting potential? These are just a few of the things you may be concerned about. If you're thinking of buying a holiday home and are seeking expert advice, then look to Sykes first as we guide owners through the process daily.

Advice on buying a holiday let

With our wealth of knowledge and years of experience in the holiday letting market, we can support you in making the perfect investment, but whatever stage you're at, we can help. You could have seen a property online but aren't sure if it will work as a holiday let - we'd love to have a look at it with you and give you an idea of its potential. Or you may just be thinking about holiday letting and need to understand how to approach it - our experience will help give you confidence in the decision you make.

For expert advice on buying a holiday let, contact our friendly property specialists; they're here to help you make the right choices.

Where is the best area to buy a holiday let?

When choosing a location for buying a holiday let, if your decision is not made by a love of the area and it's purely for investment then we can help you identify the most profitable areas to suit your needs.

We have over 25 years' experience in successfully letting holiday cottages so if you're seeking expert advice and guidance on the ideal area to buy, then our property specialists would be more than happy to share their knowledge with you. All you have to do is pick up the phone!

What is the best website for buying a holiday property?

Chances are you will already know some of the biggest websites. The likes of Zoopla, Prime Location and Rightmove are giants in online property sales.

However, there are other websites out there that might be of interest if you're looking for something specific or a little bit different. For example, for a property with a lake or sea view, try Waterside Properties. For a contemporarily-designed property, take a look at The Modern House, or if it's a characterful property that you've got in mind then head to Period Property UK.

Whether you have something in mind, or if you're not quite sure then get in touch and we can guide you to some of the leading websites. Even if you're only at the starting stage of considering buying a holiday property, give our expert team a call. They'll be able to advise you on what income you can expect and offer sound advice and support on your next steps.

Call now on

01244 356666

Or complete the form for a
FREE owner information pack

I am *

Other frequently asked questions

Thinking of buying a holiday cottage?

Thinking of building a holiday cottage, either on land you already own or by purchasing land to build on? Sykes will support you from the very start. It doesn't matter how far along the line you are, we're just at the other end of the phone. We know that a little bit of advice from a team of trusted professionals can make a huge difference to ensuring you get the most from your plan.

If you've already had your plans drawn up, the local manager for your area would be delighted to come out to visit, assess the suitability and make recommendations to maximise your land's potential. They're experts in your area so it's your chance to ask as many questions as you wish.

Get in touch and we'll talk you through all the details, as well as offer guidance on the level of bookings you can expect and provide suggestions on what to do to maximise the appeal of your new build. Together, we can help you create the perfect holiday let.

What are the pros and cons of buying a property for holiday letting?

Buying a holiday let is a big decision and an exciting adventure, and it's so important to consider all of your options to ensure it's right for you. Here at Sykes Cottages we've guided thousands of owners through the buying process, so if you're looking for specialist advice then we can help.

There are lots of benefits when it comes to holiday letting, from the excellent long-term investment to having your own holiday home pay for itself. But holiday letting doesn't have to be hard work and choosing the right agent will make all the difference in making the process seamless and your investment viable. If you're thinking of purchasing a holiday let and you need some no-obligation advice, give us a call.

Our property experts would be delighted to chat through your options and give you as much support as you need throughout the buying process.

What does part ownership/fractional ownership of a holiday home mean?

Part ownership or fractional ownership of a holiday home is when a property is owned and shared by two or more people as opposed to a sole owner.

Here at Sykes we have lots of experience working with people who share ownership over one or more properties and we're able to work with and support more than one owner to ensure all parties reap the benefits.

Our property experts are on standby to answer any queries you may have so please get in touch or request a free owner information pack; we'd be happy to help.

What is the stamp duty when buying a holiday let?

From April 2016, the stamp duty you pay on a second home is changing. As of April 2016, when you buy an additional property, including furnished holiday lets, you will be charged a higher rate of stamp duty. This is as follows:

Minimum property purchase price Maximum property purchase price Current stamp duty rate Stamp duty rate as of April 2016
£0 £125,000 0% 3%
£125,001 £250,000 2% 5%
£250,001 £925,000 5% 8%
Over £1.5 million - 12% 15%

In Scotland you pay Land and Building Transaction Tax (LBTT), which is slightly different to the stamp duty paid in England and Wales. However, Scotland has also elected to charge higher LLBT on those buying second homes including holiday properties. This is as follows:

Minimum property purchase price Maximum property purchase price Current stamp duty rate Stamp duty rate as of April 2016
£0 £145,000 0% 3%
£125,001 £250,000 2% 5%
£250,001 £325,000 5% 8%
£325,001 £750,000 10% 13%
Over £750,000 - 12% 15%

Here at Sykes Cottages our pricing analysts work with our owners to ensure they get the best possible return on their investment and despite this change in stamp duty, we can make sure that your holiday let is still a lucrative option.

Get in touch today for some friendly, free advice on what we think will work best for you.

Sources:
http://www.thisismoney.co.uk/money/buytolet/article-3394231/Why-concerned-second-home-stamp-duty-reforms.html https://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/12055809/Scottish-buy-to-let-blow-stamp-duty-to-rise-there-too.html

What should I look for in a holiday home for sale? What should I look for in a holiday cottage business for sale?

Need advice as to what features to look for when buying a potential holiday let? Wondering whether to buy a ready-made holiday let or a residential property? Or considering whether you should invest in more than one property?

Sykes Cottages are here to help 7 days a week. We can take a look at the property with you and advise on what we think will be a good investment. While your local manager will offer lots of information and advice on what features will help get you more bookings, and the small things you can do to improve the cottage, which will make a big difference for your customers.

Can I use my pension to buy a holiday let? (Pension release)

As a result of changes that came into effect in April 2015, British citizens over the age of 55 can now 'unlock' their pension and access up to 25% of it tax-free.

Our expert team are on-hand daily and can give you a very good indication of the income you can expect to make from your holiday home, helping you to decide what's best for you. All you have to do is speak to us - we'd be happy to help.

Sources:
http://www.moneysavingexpert.com/savings/pension-liberation#early https://www.moneyadviceservice.org.uk/en/articles/pension-release-or-pension-unlocking

Get more with Sykes

See what your property could achieve

How much could you earn?

Number of bedrooms

Average potential earnings*

*Please note these are estimates based on historical booking data

Let's do this together

Pick up the phone or request one of our friendly property experts to call you back. We're on hand 7 days a week to offer you free advice on getting the best out of holiday letting. It's what we do.

Call now on

01244 356666

Or complete the form for a
FREE owner information pack

I am *

Contact us
NOW