Appealing To The Largest Market

In order to make a good financial return on your holiday let property, you must always aim to appeal to the largest market. Once you have decided on your budget and settled on the area you would like your holiday home to be in, you need to ask yourself some important questions that will help you to identify how to appeal to the largest market. These questions are:

Location is probably the most important factor you will need to consider as this, above all else, will determine whether or not your holiday home will be easy to market. It is all very well having a picture in your mind of a detached, thatched-roof cottage with roses around the door in a beautiful romantic setting; this type of property will almost certainly appeal to a large number of prospective holidaymakers. However, finding this kind of property and, more importantly, being able to afford to buy this type of property may prove a real problem. It is therefore essential to expand on your ideas and find a property that will appeal to as many people as possible, but also one that will not prove a headache to find and finance.

There are a large number of different properties to choose from, namely:

Each of the above will have some potential as a holiday let, but it is worth bearing in mind that some properties will be harder to market than others. Flats and apartments may appeal to holidaymakers seeking a base in city surroundings but may prove harder to let if they are in the wrong location.

When considering how to appeal to the largest market, you should also look at the ways you are able to market your property. You must decide whether trying to sell your holiday let yourself is a feasible option or whether you might be better suited to putting the property in the hands of an agent who will undoubtedly be able to reach a far larger audience. We will look at agents in more detail in Chapter 5.

Although location and property are the two main factors to consider when buying the ideal holiday home, it does not automatically mean that purchasing a rural idyll in a sought-after area will bring you maximum income. Once you have your holiday home, there are other factors that you must address in order to market your property and maximise your holiday let potential. More often, next to the location and the kind of property, the first thing would-be holidaymakers will enquire about is the price. They will be looking for a good-quality base in a great area, but at an affordable price. You must not undersell your property in order to keep it full, but neither must you be greedy. The average person has only a certain amount of money to spend on their annual holiday and. unless they choose to book a larger property and holiday with friends and family, and therefore split the cost of the rent, the price will have a huge impact on their booking decision.

Next to cost, another deciding factor will be the space and facilities on offer. holidaymakers are usually looking for comfort and a bit of luxury. By ensuring your property has some of the points listed below, you will be on the way to achieving a high level of customer satisfaction and ultimately achieve a high level of bookings.

How To Decorate

Firstly, think about the type of property you have purchased. What works well in one type of property may be a huge mistake in another. It is best to avoid making the property appear bland, but using very bold colours to make a statement may only appeal to a small number of guests and alienate the rest.

Aim to add character to your property by using the rooms themselves as inspiration. For example, a country cottage with beamed ceilings and open fires will probably benefit from an ‘olde worlde’ kind of décor. Most holidaymakers booking a character cottage will expect to see ‘chintzy floral’ and it is therefore important not to disappoint. Be careful not to make the look appear dated and avoid going over the top. Mixing plain fabrics with floral ones helps to avoid overpowering a room and is therefore a good idea. If you plan to purchase a patterned suite, try to counteract this with a plain carpet and curtains and perhaps cream walls, so that the room doesn’t feel claustrophobic with a riot of colour and patterns all fighting for attention.

Modern flats and apartments will probably be best suited to a streamlined look, and a minimalist design would appeal to most holidaymakers choosing this type of property.

Think about the practicalities of decorating a holiday home. Painting the walls in white or magnolia is probably the best option. The walls, particularly in high-traffic areas such as hallways and bathrooms, will take a lot of wear and tear. Plain emulsion is easy to touch up in a limited amount of time. Expensive wallpapers or specially matched paint colours will prove a huge headache when damaged. Neutral colours on the walls create a good backdrop for colours within the furnishings and they can also help to make a room seem bigger and brighter. Oppressive colours which draw a room in are best avoided.

When choosing the furnishings, opt for the best quality you can afford without being too luxurious. Good-quality furnishings may not be the cheapest on the market but they will stand the test of time and, in the long run, probably end up saving you money as they don’t have to be replaced as often as cheaper furnishings. Penny pinching at this stage could well turn out to be a false economy. Suite covers, cushion covers, bedding, etc., will have to endure many washes and cheaper fabrics will quickly fade. Investing in good-quality items at this stage will ensure you will not need to change them continually as they become shabby.

Try to accessories your property thoughtfully. It is easy to fill a house with knick-knacks and cheap trinkets but by doing this you risk cheapening your property by simply adding clutter. A few well-chosen ornaments will help the property feel homely without overdoing it. A couple of pictures hung on the walls will also help to create the homely feel you should be trying to create.