THE ART OF UNIQUENESS
Positioning your property to stand out among others can be achieved by the Marie of the property, the property’s design, setup, location, activities, feature experience etc. and it’s important that you master this art – every holiday wants something new something that will surprise them to get them to say “ I didn’t expect that but I love it” doing this makes you a master at this art of holiday home investing, people will discuss more of your uniqueness that your price and when you have that you don’t stop winning.
THE ART OF PARTNERSHIP
Partnering with someone you trust and have shared values with in making a holiday home investment can be a great strategy for leverage. You could avoid having to take loans and pay interests and get to capitalize on shared strengths. You may have everything checked but your budget could be half the going price and a great way to get in on a hot property with a higher budget is a partnership.
Make sure it’s business, and no loose ends are left untied with all terms stated clearly to enjoy a rewarding partnership.
Partnering with friends or family can present more options at higher price points in prime locations. Maintenance costs can also be split minimizing your liabilities and maximizing your asset- that sounds like a win-win.
THE ART OF PRICE
Pricing a property sets the tone for the property and it’s an art you must master to get it right and win big yields. You can go for an exclusive high price, however, the experience and the property must also be exclusive. Give more than the tenant expects and you will keep up your yields. Pricing too low on a high-end property could also affect your yields as there is the likelihood that your tenants would be willing to pay higher for what you offer.
This also sets the tone on the type of tenants you attract and can add to the exclusivity and perception of the property. Many top luxury brands have done it right and are enjoying great returns. Pricing too high can also affect your yields negatively when your property is more for the middle-income market. Sticking to the essence of your property in pricing is an essential art to master.
THE ART OF YOUR TARGET
It’s essential to know the type of holidaymaker your holiday home is ideal for. This helps you step into their shoes and give them an experience that will keep them coming back. It’s a special art and will need to be constantly looked at, stepping into your target tenants’ shoes can keep you steps ahead of them and can help in designing and creating the whole experience to provide a phenomenal holiday stay. By doing so you will know exactly what they want or do not want in a holiday home making you the master of your art. Knowing this can also help you with pricing, there are holidaymakers who aren’t it looking at the price all they want is a great and unforgettable stay, whereas there are holidaymakers who want a great holiday within a budget, as a master of your art each unified holiday home investor can cater to the various holiday maker markets.