Don’t pack without a plan

Every summer, a certain number of the people enjoying a well-earned break after a tough year at the office will fall in love with their holiday destination and decide to throw up their lives elsewhere and relocate permanently.
Estate agents see this often, especially in coastal towns where the holiday season usually means great weather, a relaxed and friendly atmosphere and steadily ringing tills that are all very attractive to anyone looking to escape the “rat race”, says Berry Everitt, CEO of the Chas Everitt International property group.
“But while it is often a good idea to buy a holiday home or a rental property in a popular tourist town, the truth is that anyone who still needs to work or run a business to provide for themselves and / or their families should be extremely cautious about moving there lock, stock, and barrel.”
Writing in the Property Signposts newsletter, he notes that many places that are great holiday or even retirement destinations don’t actually offer many new employment or business opportunities for permanent residents and are really quiet out of season.
“So if you could find a job or a business to buy in such a town you would in most cases need to be sure that your seasonal earnings would carry you for the rest of the year.”
And even in places where there appears to be room to start new, non-seasonal businesses, Everitt advises, you should at least wait for the holiday glow to wear off before making any life-changing decisions.
“Then if you’re still determined to relocate, you should seek professional advice and do some serious number crunching before making any investment.”
Issued by Chas Everitt International

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Jun 2018
      The rental market in many Johannesburg suburbs has shown encouraging signs of revival this year but it remains a competitive market and landlords who best cater to their market’s needs will reap the healthiest returns.
    • 22 Jun 2018
      Home design is constantly evolving to reflect the changing needs of society. We look at some of the ways in which our use of space is changing.
    • 22 Jun 2018
      While estate agents can help the seller with correctly pricing the property and marketing a property to the right pool of potential buyers, at the end of the day it’s the impression that the property will make on buyers that counts the most.
    • 21 Jun 2018
      Anyone who’s ever been involved in a building project that’s gone wrong will appreciate the importance of adequate insurance cover in the construction industry.
    • 21 Jun 2018
      A recent news story about a blind tenant caught in a legal battle with his body corporate over letters and notices he was unable to read and consequently comply with has raised the question: what are the legal obligations for landlords with disabled tenants?
    • 21 Jun 2018
      A trend that’s taken the world by storm in recent years is that of hygge (pronounced: hue-guh), a Danish concept that is about creating intimacy, connecting with loved ones and taking pleasure in small, ordinary things.
    • 20 Jun 2018
      Buying or selling real estate isn’t as easy as it is portrayed sometimes, especially if there is a death of a party during the transaction which can make it awkward, tricky and inconvenient.
    • 20 Jun 2018
      With interest rates remaining at historic lows and banks continuing to compete for mortgage finance business, first-time buyers with funds at their disposal are currently well-placed to gain that initial foothold on the property ladder, particularly in the light of the slightly lower growth rates currently experienced in residential property values.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us