Is your cottage in the country becoming a financial burden?

Last Updated on September 5, 2008 by Mark Lavington

Is your cottage in the country becoming a financial burden? Here at Boshers it has recently become apparent from a steady stream of holiday home insurance enquiries, that second home owners who use their country and coastal cottages for family and friends use only and often infrequently, are feeling the squeeze of the recent “credit crunch”.

The flipside to this is that thousands of second home owners have for many years been letting their country cottage or seaside home to others for short term family holidays, whilst still reserving a few key weeks for their own use have been managing well and in some cases making a healthy profit. This has proven to be a superb way of subsidising their holiday home investment or keeping inherited property in the family. As self-catering holidays in the UK continue to flourish, despite our sometimes less than perfect weather, supply in popular areas often does not meet demand during holiday periods.

So if you own a second home in an area popular for tourism why not consider letting your second home as a holiday home for short term family holidays. You will of course have to consider, decor, furnishings, legislation, the marketing of your property as well as having the correct holiday home insurance in place including liability cover for guests and employees. More about these areas later …

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