colinrealestate

To really make the most of a weekend property, it needs to be within convenient striking distance of your regular home.
Once a property is over one and a half hours from your residence, the chances of your enjoyment rapidly waning increase. In excess of two and a half hours and the odds really start to stack against you.
Make sure your chosen weekender destination at least has a General Store because there will be times when you arrive with little planning and if there are no shops, restaurants or other conveniences nearby, your weekender becomes much less workable over the long term.
Make sure the rural property you choose is low maintenance, otherwise you’ll spend your weekends doing nothing other than the normal tasks you’d be doing at home – just somewhere else!
Also consider security. An isolated weekender is a target for thieves whereas a home next door to permanent residents is far less likely to be broken into.
Weekenders don’t typically produce yields approaching those of other forms of property investment, even if you do plan to rent them short-term during peak holiday seasons. Most buyers simply hope to enjoy their get-away rural property and make a profit through capital gain when they sell.
If the land value breaks the land tax threshold, costs can really add up, given that your rural property weekender won’t be your principal place of residence

Filed under: REAL ESTATE