Choosing the right property for your B&B

If you’re considering purchasing a property with the aim of turning it into a guest house or bed and breakfast, there are many important factors to consider to ensure you make the right choice and buy a building that will be conducive to running a successful business. A property is a major investment, so careful planning is essential if you want to be confident that you are spending your money wisely.

Some of the most crucial considerations include:

– Location. This is one of the first things a potential customer will think about when deciding whether or not to book a room at your B&B. A property which is close to local attractions and popular tourist destinations is naturally going to have a larger potential market than one which is out in a remote area.

– How much work the property is going to require. Will you need to factor in the costs of renovations, redecorating, landscaping, or new kitchen and bathroom installations, or could you move into the property and open for business more or less straight away?

– Whether it is right for your business plan. As you should have a specific goal in mind for your B&B, it is important that you choose a property which will allow you to reach your aims. It is easy to fall in love with a property, but if it doesn’t have the right number of rooms, is too far away from local attractions or won’t allow you to include the facilities you have in mind, you should walk away. Many B&B owners also live in the property, so consider whether it will work for your requirements as well as those of your future customers.

– Mortgages and funding. This is obviously a crucial consideration when buying any kind of property, and we are on hand to help you with this aspect. We specialise in finding suitable loans and mortgages, focusing exclusively on the leisure and hospitality industry so we can provide our clients with a fully personalised service. Whether you are in need of assistance with hotel, guest house, B&B or equestrian finance solutions, we will do all we can to help you prepare a detailed proposal and secure that all important funding.