Pros and cons of having a second home in the Netherlands or abroad

1. You have a home in your favourite place and get to visit whenever you want. You don’t need to worry about availability, and you can design and decorate it to your taste.
2. If you frequently work from home, you can install a decent Wi-Fi connection and be productive all while enjoying the lovely surroundings.
3. You might earn a return on your investment if the value of your home increases.
4. You may also be able to earn a profit by renting out your holiday home while you’re away.

1. You might be tempted to continue going to the same place, even though you need a change of scenery.
2. Your second home may decrease in value over time. In that case, the enjoyment you get out of the property might not be worth the outgoings, which could include things like maintenance costs.
3. Renting out your holiday home can bring another set of problems: you’ll need to sort out any issues with guests, or it might not always be possible to rent out your home.
4. You’ll also have to budget for recurring costs such as taxes, insurance and possibly mortgage repayments.

You can discuss your financial options and additional questions with a Preferred Banking adviser.