According to statistics released by Travelodge, almost 75% of the Brits will take their autumn break in the English countryside, and this proportion has risen every year since 2010, when the rate was just about 33%. So wouldn’t it make sense to use this to your advantage?
The “buy-to let” housing sector is booming, with rising rents and improved mortgage deals. For example, the Leeds Building Society launched a holiday let mortgage for prospective homeowners, who are looking to let out their property for the holidays. Such deals have given first time buyers a way to climb up the property ladder in Leeds.
While looking around for holiday homes, consider staying at budget hotels in Leeds like the Holiday Inn Express Leeds East. Located near Leeds Metropolitan University and the Leeds University, this hotel offers refreshingly modern guestrooms, packed with a range of modern facilities.
Buying a Holiday Home in Leeds
If there is one thing that we can be sure of, it is that property rental prices will soar as autumn sets in Britain. It is clear that rentals are the biggest stars in the market and experts say that some of the prices in country locations have outstripped many suburban and urban alternatives. And with so many people looking for budget accommodations in Leeds, York and Harrogate, the countryside has become a grand investment minefield.
Tourist hotspots like Bath and coastal Suffolk can bring in tremendous revenues for investors. For example, a two bedroom Georgian apartment in Bath can fetch you more than £450 a week. However, these places also require very high purchasing power. And that is where Leeds comes to the rescue.
The relatively unexplored holiday home market is a lot cheaper here, making investing a high potential reality. You would be surprised how many people rush to this town, which is home to Roundhay Park and the Royal Armouries. The holiday rush here is very high and this is proven by the sheer number of bookings that the budget hotels in Leeds see.
Things to Remember while Choosing the Perfect Holiday Home in Leeds
Here are a few pressure points to keep in mind while you make your home investment in this part of the country.
- Area: People who come for holidays typically look for properties that are a little away from the bustling city life. Areas near Headingly Stadium or the Leeds Football Club on Elland Road could be good options. You can even select a good budget hotel in Leeds to stay at for a couple of days, as you narrow down the best localities.
- Comprehensive Insurance: Your insurance should provide liability cover for guests as well as employer liability for the cleaning staff and other house help.
- Grab Tax Advantages: Mortgages for these holiday homes are interest only, and such interests can be set off against your profits before your tax is calculated.
Autumn is a great time to invest in Leeds; it will give you enough time to get the property ready for the lucrative Christmas and New Year market. Also, it makes sense to benefit from the mortgage plan that the Leeds Building Society is offering. The Leeds Town Centre can help you understand the region better.
