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Here are Some Important Questions to Ask Yourself
What are you PRIMARILY buying this property for?
Holiday Home
A Financial Investment – to be mainly rented out to produce an income
To Retire to now
To Retire to later with some mixed holiday / rental use
To Relocate
What do you see yourself doing in the region of the country after you have purchased property?
Spending all your time together
Spending time on individual hobbies
Using the property individually with friends
Using the property as accommodation for your golf trips, other activities (how often?)
Using the property as accommodation for weekends away together, or with family and friends (how often?)
How often do you think you will visit your property in the first and second year,the fifth year and 10 years plus?
When your property is not occupied by your friends and family will you rent it out?
How long will you rent it for and for how much?
Do you need a tourism license to rent your property?
What NET rental income must your property realise after cost of services, agent fees, taxes, running costs and other deductions?
Create a comprehensive budget to cover all the running costs, as mentioned above, then add an extra 10% to allow for unexpected repairs or other unexpected costs.
These answers will help you to decide the purpose of the property you want to buy and will guide you to choose the property that meets your own individual needs.
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