Western Australia has some of the most scenic and picturesque holiday destinations in the country.

Whether you prefer to head north or south, a change of scenery can get you thinking about investing in a holiday house of your own.

What will you use the property for?

If this is something that you are seriously thinking about, it’s important to determine whether you want to utilise the property as a holiday home, as an investment, or as a combination of both.

The most ideal situation is to keep the property available for when you want to use it and rent it out to other holiday makers the rest of the time. This ensures regular income to help pay the mortgage but also allows you to enjoy the property and surrounds. You can also look at adding your holiday home as a short-term rental property.

Do your research

When searching for a holiday home, you should take a business-like approach and avoid making emotional decisions.

You want to ensure you research prices in the area and realistically assess the ability to rent the property out.

Location is key

The location of your holiday home is particularly important as this will have an impact on what return you’ll get from holiday letting. Look in areas that attract a lot of holidaymakers due to local attractions or proximity to metro areas.

You should also check if the area has any restrictions for short-term rentals. Some regional LGAs require a licence and will only allow short-term rentals in specified areas.

Alternatively, you can purchase a unit within a resort development. These properties are leased back to the manager of the resort and offered as holiday accommodation. As the owner, you can usually make use of the property at certain times during the year.

Be sure to check the fine print with these purchases as you may acquire a share of a managed investment scheme, which can include a stake in the total income of the resort as well as expenses incurred by the development.

Invest in your holiday home

If you are looking to rent out your holiday home, you should fit the property out with furniture and kitchen essentials.

Having items like a barbeque, television and laundry facilities will add to the appeal.

More information

For more information, speak to REIWA agents located at popular holiday spots. They will will be able to provide you with an insight into the local market and let you know if they have any properties that suit your needs.