Looking at selling your holiday home after years of welcoming paying guests? Whether you’re selling your treasured property to move on to pastures new or ready to retire from holiday letting, there are a few things to remember when it comes to putting your holiday home on the market as a going concern. You may have had some fantastic properties for sale around the world at your fingertips so selling your home would be an excellent idea if you are looking at branching out to other abroad holiday homes.
Consider timing when selling your holiday home
Having provided self-catering accommodation to the tourism trade you’ll know how important the peak season is to your holiday letting business, so it’s essential you take this into account when it comes to selling your holiday home to any potential buyer. Putting your property on the market in the middle of the summer can be problematic; how will people be able to view the property when it’s occupied? It can also mean that by the time the deal is done they’re into the winter months, and a further six months until the peak season (and revenue) rolls into town again. Ensure you give yourself and potential buyers plenty of time to exchange contracts and get prepared for the peak letting season. Talk to your holiday letting agency and discuss how you can work together to sell your home as a going concern. Speak to local estate agents in order to find out when the most popular and appropriate times are to sell holiday homes in the area.
Marketing your holiday home correctly could be the key to maximising the interest you’re able to gain. Alongside property specifics, we recommend creating an information pack with a break down of the business’ ins and outs, especially if you’re selling as a going concern.
As obvious as it may seem, presentation is key when it comes to selling your holiday home. Potential buyers will not only be looking at the property for themselves, but more importantly on behalf of their visitors. Welcoming viewings after a long summer season when your holiday home is feeling and looking weary mightn’t do your property justice, so if it does require maintenance or a lick of paint, ensure these tasks are completed before putting it on the market.
Specialist holiday home insurance
If selling as a going concern, potential buyers will want to know about the property’s insurance history. Never made any claims? By highlighting this, it provides reassurance about the holiday home and your visitors. If you have had claims for flooding then you’ll be required to declare those to the new owners. Once the property is about to change hands we’re able to make all of the adjustments to your holiday home insurance to ensure you and your buyers have one less item to worry about