Holiday Let or Buy to Let?Make Text Bigger
After many years of letting to ‘regular’ tenants, I’m now thinking about dabbling with holiday letting. I’ve just agreed to buy a modern mid-terrace house in a seaside town in Cornwall, and my own house is also by the sea, in Devon, and quite cute.
My plan was to rent out the house in Cornwall until such time as I wanted to move down there, but now think I’d like to let it to holiday makers, so I can use it myself out of peak season.
Then it occurred to me that perhaps I could rent out my own house (mortgage just about to be paid off) as a holiday let instead, and live in the house in Cornwall. I need to make a decision as I have to get a mortgage for the house in Cornwall, so either buy-to-let, or holiday let mortgage, and I believe that the related issues are very different too e.g. business rates instead of council tax.
Also, is it possible to manage a holiday let, whilst living elsewhere, or is it better to use an agent?
Any advice will be warmly welcomed.
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