First you visit Mallorca for the holidays, then you start looking to buy a house. Before you know it you are in love with Mallorca and want to find a way of buying a property on the island. But not everyone can afford to buy a second home and it is quite a luxury to have a prime piece of real estate in Pollensa and a shame to leave it closed up for half the year or even longer.
Besides, there is another way.
The great thing about buying property in Pollensa is that this little town and the surrounding area just don't go out of fashion. The north of Mallorca cleanly survived the slump, prices froze but didn't really drop and now the property market is beginning to properly heat up again.
The north of Mallorca is made up of Pollensa, Puerto Pollensa, Cala San Vicente and Formentor. But that’s just the towns and resorts on the coast. There is the entire countryside in between, miles of rolling hills with olive and almond trees, tiny streams, farmhouses and fincas, grand old country estates and small villas, both reformed and still in need of reformation.
To buy to let in Pollensa you may want to research the rentals market and ascertain what works well in the area and what doesn't. This is important, because you don't want to start pouring your money into something that just doesn't sell while ignoring the things that do. For example, holidaymakers greatly appreciate safety and privacy, gated pools for young children, easy access to and around the house for buggies and wheelchairs, while other investments may not be important, or even downright pointless.
The holiday season grows longer every year, so what was initially just the months of July and August now begins at Easter break and extends all the way to October. Hardly surprising really. The sun starts shining in early spring and just keeps getting hotter. In September the weather is scorching and October is just about perfect.
Mallorca out of season is bliss, but it isn`t when the holiday makers wish to be on the island. If you are happy to spend your spring and autumn in Pollensa and let your home in the peak Summer months, you stand to make a good business out of your buy to let in Pollensa and get to enjoy it too.
In order to buy to let in Pollensa you will want to look for a property that can be reformed to suit rentals. Think about how bedroom/bathroom ratios, outdoor covered spaces, upkeep etc.
No need to make costly investments in furniture and best not to refurbish too expensively as a rental takes a lot of wear and you want to be able to easily fix or replace anything that can get damaged.
It is an investment opportunity.
Once you make your initial payment and the house is yours, you can immediately begin to let it out and start getting a return on your investment.
Besides, as the property will essentially be buying itself, your buy to let in Pollensa will be yours to enjoy full time in the future.
Holiday rentals are a prosperous market in the Pollensa area and will continue to be so for the foreseeable future and there are several ways of going about it. You can do it yourself, get a house management company to help, hire a private house keeper or hand the entire property over to a rentals agency.
In the end all that matters is that you can make your new home pay for itself. That said, not every rental property makes money. Cleaning, bedding and linen changes, garden and pool maintenance, general upkeep and repairs and agency fees can make huge inroads into your budget leaving you with no profit at all, or in arrears.
The bonus of an agency is that you can stipulate what you need to make and they will add their costs and commissions on top ensuring you both the business and the quantity of money you need to pay your mortgage, loan etc.
This is not everyone's choice but it does offer peace of mind and take all the boring parts of running a buy to let in Pollensa off your hands.
Upkeep and maintenance costs can spiral out of control if not carefully checked so do consider the size of the land, garden, pool and outdoor areas you want to take on board, and design easily maintained outside spaces. This will reduce work hours and costs in the long run.
There are highly professional gardening and home maintenance teams in the Pollensa area who specialize in just that.
Now you may not want a villa at all.
A townhouse in Pollensa is an alternative option.
A house in town is easier to manage and less to maintain. there are fewer outdoor areas and hence upkeep is simpler. And in the months in which your buy to let in Pollensa is empty it can be just as easy to lock up and leave. Not so with a villa in the country.
Consider your options and choose wisely and you are on to a winner. Really, a buy to let in Pollensa is a no-brainer.
Our Office in Puerto Pollensa
+34 971 86 57 67You can find us in Paseo Saralegui 48
07470, Puerto Pollensa
Our Office in Puerto Alcudia
+34 871 114 800You can find us in Carrer dels Mariners 8
07400, Puerto Alcúdia
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