14 April 2022, By Endeavour Lotteries
Luxe Holiday Home? Lucrative income stream? Or both?
3 min read
If you’re dreaming about winning a Prize Home, the first question most of us ponder is, “Would I love it and live there, or list it?”
But there’s another, potentially even more enticing, option to consider.
Given that you’ll find Endeavour Foundation Prize Homes in some of Queensland’s most desirable holiday locations, choosing to keep your new luxury digs as a holiday home and/or holiday rental could end up being the best decision you’ve ever made.
The stunning $2.1 million Maleny Prize Home up for grabs in the Sunshine Coast hinterland is the perfect example. Just 90 minutes from Brisbane, and 45 minutes from the Sunshine Coast airport, this beautifully-appointed, four-bedroom home could be the ultimate holiday haven for your family and your paying guests.
Luxe holiday home and a lucrative income stream? Sign us up.
Luxury lifestyles of the not so rich and famous
For most of us, the idea of clocking off early on a Friday and escaping to our luxury weekender is the stuff of dreams. But with the rise of holiday rental platforms like Airbnb and Stayz, having your own holiday home is more attainable than you think – even for us everyday folk (not just the rich and famous).
Thanks to the current Queensland property boom, particularly in holiday hotspots like the Sunshine Coast, more and more of savvy investors are choosing a holiday home as the perfect investment property.
When you think about it, it’s an easy sell. You get to make amazing holiday memories with your family and friends in your home away from home, and then, in between times, rent it out to eager holidaymakers, cashing in on your investment.
A quick search through Airbnb will see luxury, four-bedroom homes on the Sunshine Coast (including the hinterland) renting anywhere from $3,000 to $7,000 a week, sometimes even higher. Not a bad investment in your well-being and your future.
Four things to consider before you list:
1 Think like a tourist
Try Googling for accommodation like a potential guest. For example, pop ‘Maleny accommodation’ into your search bar and see which accommodation platforms top the list. There’s a good chance that’s where your future guests will start searching and may possibly, one day, find your listing.
Thinking like a guest also applies to how you list your property and ultimately how you set it up.
What features would you look for in a holiday rental and what local attractions would hook you in?
2 Explore all your options
When deciding who to list with, make sure you look beyond the obvious suspects, like Airbnb and Stayz, and consider all your options. Other sites to look into include Booking.com, aperfectstay.com.au and bnbbooking.com.au, along with any local holiday letting websites (often run by real estate agents).
3 Consider cost to host vs value
In choosing a platform, it’s also important to weigh up the cost to host and what you get in return. Typically, hosting platforms charge a percentage of the nightly rate, however it may not be a straightforward as choosing the cheapest option. Get clear on your checklist, then do your homework. You’ll probably find that there’s a clear winner, it just might not be the one you expect.
4 Understand the extra costs
While renting out your holiday home can be lucrative, there are a number of costs you need to consider. Things like insurance, security, and maintenance can really add up, and need to be factored in when doing your sums.
For example, experts say the average rental property requires repainting every three to five years. But if you’re looking at the short-term rental market, the need for a refresh may come around a lot sooner.
You’ll also need to include the cost of electricity in your budget, along with Wi-Fi internet and streaming platforms like Netflix or Stan, if you’re going to deliver on today’s guest expectations.
Check out the ultimate luxe listing
For some dreamy inspo, or possibly even a peek at your future, explore Endeavour Foundation’s architecturally-designed, $2.1million Anniversary Prize Home.
Idyllically located in the charming town of Maleny, and superbly fitted out down to the finest detail, this home really is an Airbnb feature property in the making.
If you can, this home is really worth a visit in person. Find directions and opening times here.
Otherwise, get away for a mental mini-break and take a virtual tour right now.