Guide to Buying a Holiday Home

Leading holiday home insurance provider Towergate Connect provide their top tips for buying a holiday home.

Online PR News – 08-April-2010 – – Choosing a home can be daunting, especially a holiday home. Leading Holiday Home Insurance provider Towergate Connect give you the lowdown on what to consider when buying a holiday home.

Reasons for buying:

Are you looking for a rental investment, a retreat for your own use or a second home to retire to at a later date? You will need to consider these factors before deciding on the location and type of property.

If you are thinking of renting out the property make sure you know what all your expenses will be and whether your rental income will cover these. Take into account periods of vacancy.


Once you have decided on a general area in which you wish to buy, there are several factors that you need to consider:

1) Ease of Access

Is the location easy to travel to? Does it have a good network of trains and roads or is it near to an airport served by low cost airlines?

2) Surroundings

Do you prefer to be near the beach, or in the countryside? Are you looking for peace and quiet or lots of nightlife?

3) Weather

Don’t forget that some resorts have low and high seasons, whereas others have good weather all year round. Some resorts shut during low season and you could find yourselves with not much to do during this time.

4) Communication

Can you speak the language where you are buying? If not, are there many people that speak English or do you know someone that does speak the language? Consider how you would cope in an emergency with limited language skills. Towergate Connect offer their interpreting service ‘overseas assist’ with all their overseas holiday home insurance policies. This service is designed to give you access to local tradespersons in an emergency and offers added peace of mind.

Type of Property:

Think about the type of property you’d like before you start looking.
Would you prefer an apartment or a house?
How many bedrooms do you need?
Would you like a pool or garden?

The use of the property should be a big factor here – if you will be letting it out what would appeal? Make sure you are clear on which items are non-negotiable and which you’d be willing to compromise on.

Check what the maintenance charges will be on the property before you buy – different countries will have different scales.

When to buy:

Often people avoid buying in a downturn because of the uncertainty of their investment, or simply can’t arrange the finance, but often the most competitively priced properties can be found at such times. Past trends show that properties bought at the bottom of the market make the most profit, so it’s a buyers market.

Consider whether it’s the right time for you, personally and financially, and if you decide to go for it, make sure you know what you want.


For a major purchase like this you’ll have to do a considerable amount of budgeting in advance and research the options open to you. If you have ready cash, then speak to a currency expert who will be able to advise you on the getting the best deal at the best time. If you’re looking at a mortgage, think about whether you need a UK or international mortgage and the implications of this on your income and currency exchange rates.

Getting finance agreed in principle is vital so that you know how much you have realistically got to spend, and can make you a more attractive buyer. In all cases it’s vital to speak to a legal advisor who can work in your best interests, and you can relax in the knowledge that you’ll soon have a wonderful second home.

Make sure once you have completed the purchase of your property that you arrange the relevant insurance. Towergate Connect offer quality Holiday Home Insurance for properties in both the UK and overseas.

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