|Image Credit: http://www.geograph.org.uk/photo/221664|
An item that is on my bucket list and something that Mr M and myself have been considering over and over again is the possibility of buying another property to keep as a holiday home. We both adore holidaying in England, we love spending time by the coast with our children and the dream of having another home where the children will be able to go as they grow up (perhaps with their own children one day) is something I often have a little whimsical dream about. A holiday property could also be (potentially) a great investment for the future, and as I’m seriously lacking in retirement plans, we’d definitely consider letting it as a rental. For some reason I am quite excited at the prospect of running a holiday let, albeit long distance!
One of the first stages of our plan is location – we just can’t settle on a place but do have a shortlist, which includes Norfolk, Dorset, Devon and Cornwall. That really narrows it doesn’t it? The second stage is looking at mortgages and working out whether financially it could be reality or it should remain just a distant dream. I mean in my head, I can make it work but in reality? Who knows?
There’s also the fact that I am a bit scared at the prospect of taking on another large financial commitment, although mortgage rates are so much lower than when I last bought a house, what if our situation changes? It’s nice to sometimes just have a dream and I tend to spend a lot of time procrastinating, looking at pretty cottages on the Internet and daydreaming about what colours I’d paint the walls. Then I worry that we’d feel like every holiday had to be taken at the holiday house, seriously restricting my need and desire to explore new places.
Whilst looking at interiors and endless pictures on property websites is a lovely way to waste a few hours, it’s not ever going to help the dream become a reality and it’s probably coming to the time where we have to put up or shut up!
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