What matters when you’re buying overseas property? Is it a fabulous swimming pool, a silly number of bedrooms, or modern, easy going decor? Well, it’s all of the above, but there is one factor that has mattered to overseas landlords almost more than any other. Accessibility – how easy it is to get to and from your property – is one of the most valuable and marketable elements. What do you need to know about easy to access properties?
Make the Journey
Most tenants will be flying to your property and then either renting a car or travelling onwards by public transport. It’s worth trying both to see the easiest option, but the most accessible properties will be less than an hour from any airport, preferably by train. At the other end, local bus services directly to your property can be unreliable so find out about taxi prices: it’s likely your tired guests will just want to get there!
Easy Travel Means Better Prices
Your guests will have a holiday budget in mind for their property and the combined price for accommodation and transfers is really what matters. So, if your property is a €7 metro ride from the airport you can charge a greater proportion of your tenants’ budgets. A €200 car hire bill to get to any property will significantly limit what you can charge and who you will attract.
Go Easy on Yourself
Don’t forget that there’s a second saving to be made from buying an easy-access property: you may need to get there yourself. In the event that you need to make an overseas property insurance claim or you wish to redecorate you’ll have to suffer the costs of travel yourself. Buying an accessible property doesn’t just boost your income, it can also save you money when you decide to visit.
Though having a great property is key, it’s important to remember that accessibility really counts. It can considerably affect the rents you can charge but, even if there’s no financial difference, it will affect the tenants you bring in. Don’t expect young couples or older visitors to want to hire cars: market your property appropriately.