Buying a chalet holiday let

Bertha123

dunstonh wrote: »

There is obviously a world of difference between the two things. Plus, this ignores conventional investments too.

If the site is profitable, why do they need you to buy the lease?
What happens if the site closes?
Holiday lets are notorious for suffering frequent damage. You need to cost that in.
This is not a liquid holding. Can you accept that?



It fails to meet that criteria. So, that means it is unsuitable.

Thanks for your reply. What is a liquid holding?


I just have this sum of money I don't know what to do with for the best and have been considering this for 10 years now!

Bertha123

jimjames wrote: »

Lots of ifs, buts and maybe's there. What if it doesn't work out and you have to sell for £10k losing £20k in the process? Would that matter?

Do you already have plenty of other investments as they are far more likely to go up in value and pay a better income that this?

Yep it definitely would matter!


I have no other investments. I have slightly more money. It is all in a bank account not doing much!! I loved idea of holiday let, but I just don't have enough to get a good one clearly.

mel48rose

I owned a couple of holiday chalets a few years ago and it was a complete nightmare. Had some awful holidaymakers stay, some damaged property and some left if really filthy. :eek:

Stressful getting bookings every year to cover ground rent and bills. I eventually managed to sell them both. I would think long and hard if I were you. The rewards are few and far between and for me it was not worth the stress involved. Good luck whatever you decide.

dunstonh

Bertha123 wrote: »

Thanks for your reply. What is a liquid holding?


I just have this sum of money I don't know what to do with for the best and have been considering this for 10 years now!

liquidity in this respect is how accessible is the money if you need it. Chalets are not at all liquid. Cash savings and investments are.

If you want to do something with the money then why not use investments?

Bertha123

dunstonh wrote: »

liquidity in this respect is how accessible is the money if you need it. Chalets are not at all liquid. Cash savings and investments are.

If you want to do something with the money then why not use investments?

What sort of investment? (Sorry am not up with all the terminology and options available!!)


Thank you

warehouse

Bertha123 wrote: »

Hello, yes it is Sandown Bay Holiday Centre..my dad owned one years ago so I used to holiday there 15 years ago! Is it that bad?!

I have parents on the Island so me and the family stay all over the place, I'm an expert on hotels, campsites and B&Bs .

Sandown Bay was an unfortunate stay. I got sick and then my wife got sick. It was awful, we were stuck in a cold damp chalet for 4 very long days whilst relatives looked after the kids. It was a sickness/diarrhea bug and it was Autumn so couldn't have been any worse. Nothing to do with the actual place, just very unfortunate that it's the location of our worst stay ever.

The place felt run down and the chalet smelled of damp, that was a good 5+ years back now though. The actual site wasn't too bad though but a bit far from the town centre.

bigfreddiel

Only invest in something you understand or are willing to learn about.

Cheers fj

bigadaj

bigfreddiel wrote: »

Only invest in something you understand or are willing to learn about.

Cheers fj

Football club?

That's rarely gone well.