If you’ve got some extra cash put away for a future investment, you might be thinking about buying up a holiday property. Holiday homes are lucrative investment properties that can be rented out for a bit portion of the year – something you can also enjoy during the offseason.
If this situation sounds like something you’d be happy to get involved in, why not think about investing in a holiday home in Rural Australia? Sure, city apartments might be where your thoughts turn to when thinking of investment, but it’s not necessarily what potential guests might be thinking of.
Australia has a booming tourist sector, and as such you would be wise to tap into the stream of international visitors with an inner-city apartment. On the other hand however, Australians looking for a getaway to the country will be looking for rural properties to stay in.
A recent study by AirBnB showed us that Australia was the only major state that had more rural and coastal bookings, than those in urban areas. According to the survey, this number sat at around 1.7 million guests nationwide.
If it’s the best of both worlds you’re looking for, consider your own local rural getaway – turning it into a good money-spinner when you’re not around to use it. The only real downside however, is that rural property is sometimes less likely to see major capital gains over time.
With all this in mind, let’s have a look at a few key factors in helping you decide on a rural property.
Location is key with any property, but with a rural getaway you’ll want to be looking at tourist areas that are not too far away from capital cities – especially if you want to attract weekend guests.
Perhaps consider the wine regions like the Barossa and Hunter Valleys – these are reliable areas for drawing weekenders all year. Small coastal towns are also a big hit, but beware that they may not be so lucrative in the colder months of the year.
That Something Special
In tourist towns, you’ll want to stand out from the crowd to keep the books flowing. Look for properties that have that something a little special, as this will be a major draw for new bookings.
Proximity to attractions – whilst always a good thing, is potentially less of a draw than features showcasing location.
The Castle is an Australian classic, which sums up the Australian homeowners dream in a nutshell. The vision stands no matter what your aspirations are, so remember that the market of fellow Australians are likely to be no different.
All people looking to your rural escape will want to escape the mad life of the city. With this in mind, check out the ambience of a property – is it peaceful? Does it give your guests the chance to switch off?
Ok so your guests clearly want to escape to the country, but they’ll still need to have the ability to actually get to you. If the property involves a 2 week hike up a mountain, forget it. Avoid dirt roads or steep tracks, as these can become inaccessible in bad weather – nullifying your booking.
You may also want to steer clear from houses near main roads, you should still look to ensure the property is accessible year round.