Buying a second home may be a cheaper option for going on holiday in Spain than booking a hotel room, new data from Spanish homebuilder Taylor Wimpey España has revealed.
The company’s sales and marketing director Marc Pritchard explains, “Obviously we know all about the many advantages of owning a second home in terms of lifestyle benefits and convenience, but it is fascinating to see now that for the average buyer it actually works out to be more cost effective to buy a holiday apartment than to pay for hotel rooms. Yet another reason to buy that overseas property you’ve always dreamed of!”
According to the sales data, the average Taylor Wimpey España buyer is aged between 50 and 60 and uses their property for between four and eight weeks per year. Assuming a purchase age of 50 and six weeks’ usage (42 nights) per year until the age of 81 (the average UK life expectancy), the average buyer would use their second home for a total of 1,302 nights.
According to the monthly tHPI survey from Trivago.es, the average cost of an overnight stay in Spain was €124 in August. For 1,302 nights, that comes to a total of €161,448 (no accounting for price rises and inflation). Taylor Wimpey España say they can offer three-bedroom houses in the Brisas de Alenda Golf at prices starting from €155,000.
Pritchard continues,
“Not only is it cheaper to buy a second home than to use hotel rooms, there is also the fact that with a second home you are left with a tangible asset at the end of the purchase process, which is yours to do with as you wish. While there are of course ‘hidden’ costs to second home ownership, such as maintenance, insurance and communal fees, some of this can be offset against the fact that hotel room prices will rise over time.
“Many of our buyers see their holiday property as an investment for their children’s future, not just their own.”
