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Use holiday properties yourself
Use holiday properties yourself
Big holiday freedom, big costs?

Holiday in your own holiday home

Letting and marketing for holiday homes and co.

Your own holiday home at your favourite destination, which you can use yourself at any time, spontaneously and for as long as you like. Feel at home in your own home, without a lot of packing, completely relaxed and enjoy life at your own pace. Friends and family can come to visit at any time - and all this as a stable capital investment. Holiday properties for owner-occupation sound fantastic, but what do you need to bear in mind?

Advantages of owning a holiday home:

  • Maximum flexibility and freedom of use
  • Holiday property can also be used by family and friends
  • Cost savings compared to booking an "external" holiday home
  • Realise your dreams with renovations, furnishings, garden, etc.
  • Stable investment in property
  • Opportunities to increase in value, as holiday properties are likely to continue to rise in value and holidays in Germany are becoming increasingly popular.

Expert tip:
"Most owners use their holiday home or holiday flat themselves for two to four weeks a year. Incidentally, the closer the holiday home is to your place of residence, the more often you use it yourself."

Disadvantages of using your own holiday home

Unfortunately, using your holiday home yourself comes at a price and there are a few things you should bear in mind:

  • You will not earn any rental income to cover the running costs or to pay off the loan for the holiday property
  • Second home tax is due
  • With a few small exceptions, you do not benefit from any tax advantages
  • You have to take care of maintenance, cleaning, etc. yourself
  • After a few years, you may want to discover a new holiday destination, but the running costs for the holiday property continue to exist

Expert tip:
"Ideally, you should not finance a holiday property that you use entirely yourself with a loan, but rather buy it with equity. Otherwise, the monthly costs could be too high in addition to your main residence."

Own use plus letting model

It is often the best solution to use your holiday property yourself only some of the time and otherwise rent it out to holiday guests. This allows you to benefit from all the advantages:

  • Tax benefits can be utilised
  • the rental income ideally covers the operating costs
  • No second home tax is due
  • You can still enjoy your holiday home yourself from time to time

This article is not legal or tax advice but merely reflects our personal experience.

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