The financial pitfalls of owning a holiday home in an era of rising prices and taxes

A new vacant homes tax, rising mortgage repayments and soaring energy and fuel bills can turn your dream retreat into a financial nightmare

Weighing it all up – there are a number of factors to consider to determine if you can afford your holiday home

Gabrielle Monaghan

The allure of owning a holiday home was heightened during the summer of 2021, when pandemic restrictions on foreign travel prompted urban dwellers to explore the beauty of their own country. Buoyed by savings accumulated during lockdowns, house-hunters continued to snap up everything from crumbling cottages in west Clare to period homes in west Cork this year.

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