Is a Holiday Home a Good Investment?

 

Nova Financial Ltd featured in Property Question Time on the Property Sky Channel 198

Our Managing Director Paul Mahoney on the Expert Panel:

Bryony Bilsen: Excellent, thank you. Do either of you have any experience of property overseas versus the UK? Or would you agree with Paul, invest at home if possible?

Tony Gimple: Alternatively, if you just want to buy a house in the sun, a home in the sun, then it’s your home in the sun. It’s not an investment. You’re buying it just for yourself, so whether it makes money or not actually is immaterial. It’s somewhere you can go to once, twice, thrice a year and just sit there on the beach and enjoy.

Bryony Bilsen: And I think we’ve touched on this before, haven’t we Tony, about the difference between is this a business, professional business plan that you’re looking to extend and build on, or is this perhaps something that’s got more of an emotional element? It’s, like you say, a second home. You want to enjoy being in the sun, in which case your thinking and your thoughts behind that are going to come from a different perspective.

Tony Gimple: And hopefully the business will fund the home in the sun.

Paul Mahoney: That sounds very relevant to that question, because I think a lot of people like the idea of having a home in Spain, or Portugal. If that’s the reason then you just shouldn’t do it, unless that is the reason. If you’re not going to live there and it’s about investing then put it out of your mind, because it’s not about what you want.

T: 0203 8000 600 W: Nova.Financial E: info@nova.financial

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