Investing in holiday homes by Nila Sweeney

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You've spent a week sprawled out on the sand and you're wishing the holiday never had to end. Then you see a pretty little beachside shack for sale and alongside the price tag is the promise of up to $1000 a week in holiday letting income. An investment property and a free annual holiday all rolled into a single postcard-perfect package? It's a dream come true.

Or is it? When you get back home finance friends shake their heads and say you got too much sun, the initial maintenance bill arrives and talk of an airline strike makes you wonder if you've invested in property or tourism.

There is no easy answer. A holiday home can be a property investor's best friend, with high annual returns, extra tax benefits, excellent capital gains and an affordable annual vacation. But it can also be your worst nightmare, with gross returns halved by management fees, months of no income and few appealing escape routes. Fortunately, packing the right strategies alongside the sunscreen when you embark on holiday home investment can ensure you don't get burnt.

To read the full article, get the latest issue of Your Investment Property magazine out on sale now.

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