Buying an investment property in the Costa del Sol
If you plan to frequently spend your holidays in the south of Spain, you might be thinking about buying a holiday home. So why not take the opportunity to make some money at the times that you are not using the property yourself? Or in fact buy a property in the south of Spain purely for investment purposes. Like a lot of people have done already, you could buy a holiday home for yourself and rent it out to other holiday makers when you are not there.
There are a few things to consider before choosing your investment property in Spain. Hiperprop can answer your questions and help you find the right fit for your future investment.
Choose a target group
Since you are planning to spend some time in your holiday home as well, you should consider your preferences first. You can decide on the type of house, the location and the amenities. Once you know what you want, you should think about what type of people might like to rent a holiday home like this, i.e. would my dream property be most suitable for families, for retired couples or for large groups? Would I allow pets or not? By choosing the right target group you will be able to meet your tenants expectations and wishes and make your investment purchase a success.
Choose the location
Everywhere along the Costa del Sol is popular with holiday makers. You just have to consider your own needs and your target group's needs in terms of security, proximity to shops or beaches, distance to the airport or the views from the property.
Elderly people would probably prefer to be close to shops and medical care, while still staying in a peaceful and quiet area. Young couples without children might appreciate the proximity to bars and restaurants. A place near a golf course for example could make your property more attractive to tourists all year round.
Size and features of your holiday home
The space you need for yourself as well as your budget will determine the size and type of property you can choose from. If you just need a comfortable place to spend your evenings when on holiday in Spain, you probably won't need more than an apartment. If instead you enjoy a garden, consider buying a villa or a finca. Maybe a townhouse with a terrace will meet your needs somewhere in the middle. Do not hesitate to ask our agents from Hiperprop to give you advice on all of your options.
The house's features and furnishings are also an important factor. Nowadays, most people expect a WiFi connection, air conditioning, a TV and a washing machine. Access to a swimming pool also makes your house a more desirable place to spend holidays.
Renting your house to holiday makers
When you have found the perfect holiday home for yourself and with the right features for your target rental group, it will not be hard to rent it out and earn some money while you are not in Spain.
Most holiday home owners rent out their property on a weekly basis, because the rental income on a short-term lease is significantly higher than on a long-term one. A short-term lease also makes it easier to fit in your own holiday plans and those of your friends and family.
Your holiday home can be managed by an agent in the area, who will provide keys to new tenants and organise the cleaning. arrangements. Feel free to ask your Hiperprop agent to give you advice on this.
How to find tenants for your holiday home
Many professional and private holiday home owners use Internet Portals to advertise to holiday makers because more and more people are starting to search for holiday bookings on the internet. During the process of buying a house in the Costa del Sol with a view to renting it for additional income, we can advise you on the best place to advertise your holiday home in Spain. We can also recommend a reliable property management agency to suit your requirements.