Thoughts on buying a holiday home.

sparky1989

Intresting post from Limefitt park Jhobson.This part has me " court ruling (March 2010) means that holiday parks where units are sold on leases MUST now recognise properly constituted Owners' Associations, or to be accurate Tenants' Associations" I have looked at the link but cannot see where this is .Can you point me in the right direction.Thanks ... I like you writing and points raised too. Thanks

sarahjones4397

Just to add a further point. if you intend to purchase your holiday home with a mortgage and rent it out then some companies treat short term holiday lets differently to buy to lets.

so check the small print

lagoslife

What are your objectives - lifestyle purchase or investment?

Letting out for investment is very hard work, often with little return unless your property is well marketed and in a popular location.
If you are prepared to do the work then holiday lets can be very rewarding, plus there is the added bonus of the (working) family holidays.
Don't count on rentals from family and friends, these can be few and 'mates rates' are expected.

Second homes in 'hot spots' are very expensive so short term capital appreciation may be minimal. Invest for the long term.

Research the (changing) tax benefits. There are also calls to scrap second home council tax discounts

Location, location, location.

These previous posts may also prove useful;
https://forums.moneysavingexpert.com/discussion/1824993
https://forums.moneysavingexpert.com/discussion/1403263

jhobson

@sparky1989 - the info on their link does seem to have changed to reflect more recent developments around their site fees. Sorry about that - I'll change the page I wrote accordingly.

greenface

I would like to know about owners assoc. recognition too if you have any details. The owners on our site seem to ignore the chairman/tresurer & members(the ones they know about more than others) more than they ignore everyone else.