This is the time of year when many people reluctantly returning from their holidays start dreaming of a holiday home of their own while others plan to buy a property to let out to holidaymakers.

However, says Dr Piet Botha, chairman of the Nationlink estate agency group, these potential buyers need to know that the type of property they buy could be just as important as the location when it comes to making a holiday home investment.

?In any chosen area, buyers are bound to encounter a range of property types - from the historic mansion and the fully furnished apartment or two-bedroom townhouse to a modern family home ? and they need to look at the pros and cons of each of them.

?They may be drawn to the history and architectural charms of an older home, for example, but should realise that it will probably take deep pockets and much time to keep such a property in shape. Such properties are generally best suited to DIY enthusiasts who live nearby.?

Similarly, he says, buyers should wary of newer homes being offered at bargain prices, as they may require costly repairs or renovations and will not be able to be let until this work is finished.

A home that only requires a cosmetic upgrade is worth a look.

?On the other hand, a home that requires only cosmetic upgrades such as a coat of paint or a change of carpet is definitely worth a second look.?

Sectional title apartments and townhouses can be good holiday property investments too, as levies generally cover the regular upkeep of gardens and other common areas, as well as ongoing security, which is a major advantage for absentee owners.

?Prospective buyers must check, though, that the body corporate rules in a particular complex will allow them to let their unit out to other holidaymakers. They will also have to ensure that their tenants adhere to the rules as regards noise, pets, parking, use of the pool and so on.?

As for buying off-plan, Botha says, this can be risky as the completed unit may not turn out to be what you visualised. Buyers may also incur holding costs due to unforeseen delays in obtaining approvals, building materials or bulk services. What is more, a brand new unit will have to be fully equipped and furnished before it can be let, unlike many other holiday homes that come fully-furnished.

?However, since off-plan units are often sold at a discounted price to enable the developer to get the project going, they do offer the prospect of accelerated appreciation in the years immediately following the purchase, provided there is not an oversupply of such units in the area.?