Thinking Of Buying A UK Holiday Home - Usage / Rental
Discussion
I know there have been threads before but with Brexit and a pandemic what are people's thoughts currently
Essentially I get bored easily so holidays have limited appeal but if I owned a holiday home in Wales / Peaks, I could leave a couple of road / dirt bikes there
Due to recent events I'm put off a foreign place, I'd rather rent mine out and use that money to go abroad. If I'm not nearby to clean / maintain the place realistically how much money is there after cleaning / agency costs ?
The other thought would be buy a house and permanently rent it out just keeping the garage for my toys - the benefit being added security / point of contact / electricity over just renting / buying a garage
Essentially I get bored easily so holidays have limited appeal but if I owned a holiday home in Wales / Peaks, I could leave a couple of road / dirt bikes there
Due to recent events I'm put off a foreign place, I'd rather rent mine out and use that money to go abroad. If I'm not nearby to clean / maintain the place realistically how much money is there after cleaning / agency costs ?
The other thought would be buy a house and permanently rent it out just keeping the garage for my toys - the benefit being added security / point of contact / electricity over just renting / buying a garage
Jaguar steve said:
Talk to a holiday letting agent in the area you're interested in.
Plow your way through all the sales bulls
t and ask to see the actual numbers then find out how the constraints built into tax concessions that apply to holiday lettings would work for you.
It's a narrow path you have to walk down to make any money and when we did all the legwork and considered all the potential aggravation involved we decided we couldn't be bothered.
That's why I thought I'd ask on here - I prefer hearing tales of doom and gloomPlow your way through all the sales bulls
t and ask to see the actual numbers then find out how the constraints built into tax concessions that apply to holiday lettings would work for you.It's a narrow path you have to walk down to make any money and when we did all the legwork and considered all the potential aggravation involved we decided we couldn't be bothered.
I knew that was an issue 20 years ago but I wasn't aware it was now.
Prices have gone up everywhere, possibly because we've let an extra 10 million in ! People flock to my area too, I couldn't afford to live in a nice place in London, I believe that's the capitalist way.
I've seen some farm buildings set in 3 acres which would be ideal but unfortunately are in the wrong area for me.
Sounds like the best option is to buy a house, rent it out and retain the garage or if I could find one with a granny flat and garage even better
I have found a couple of isolated garages in rural areas but I can't think that I could secure them well enough and no mains power etc is a bit limiting.
Prices have gone up everywhere, possibly because we've let an extra 10 million in ! People flock to my area too, I couldn't afford to live in a nice place in London, I believe that's the capitalist way.
I've seen some farm buildings set in 3 acres which would be ideal but unfortunately are in the wrong area for me.
Sounds like the best option is to buy a house, rent it out and retain the garage or if I could find one with a granny flat and garage even better
I have found a couple of isolated garages in rural areas but I can't think that I could secure them well enough and no mains power etc is a bit limiting.
outnumbered said:
"Get bored easily" and "holiday home" don't really seem to be a good match to me...
During lockdown I've taken to motorbike riding - it takes 3 hrs to get to Wales so in a day I'm riding there and back more than I'm riding around it.So thinking of a base in Wales where I could crash for a night (a garage would do) or leave my dirt bike so I can ride a road bike there, rather than drive my van
Very much 24 / 48hr trips when I can find time & the weather is good, which is when there aren't any B&B's and I'm not a fan of camping
Helpful posts thanks
I've been having a look on Rightmove - there are some interesting projects from £30k, googling shows several have sold and re sold at auction many times, which doesn't bode well
Whilst I love a project I know I'd be better buying one locally, sell it for a profit and just buy something with the proceeds
I've seen a few sets of barns - tempting to chop a barn off and sell on and a few church halls which make no sense to convert but would be interesting just to "camp" in them as they are
Logically I think finding something with a detached garage / outbuilding / annex makes the most sense - then rent the house on a long term lease which should hopefully avoid any Welsh attack on holiday homes, or maybe buy one on the English side of the border
I've been having a look on Rightmove - there are some interesting projects from £30k, googling shows several have sold and re sold at auction many times, which doesn't bode well
Whilst I love a project I know I'd be better buying one locally, sell it for a profit and just buy something with the proceeds
I've seen a few sets of barns - tempting to chop a barn off and sell on and a few church halls which make no sense to convert but would be interesting just to "camp" in them as they are
Logically I think finding something with a detached garage / outbuilding / annex makes the most sense - then rent the house on a long term lease which should hopefully avoid any Welsh attack on holiday homes, or maybe buy one on the English side of the border
Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff