Buy Your Holiday Home with Confidence

When considering buying a holiday home in the UK, there are some key factors you should take into consideration before putting down a deposit. Here’s what you need to know:

Budget

Be realistic about what you can afford, whether that be as a lump sum or monthly installments and consider what would happen if your current financial situation changed unexpectedly through a job loss or illness. On top of the purchase price, you’ll also need to factor in the cost of insurance and site fees. Figure out what you can afford to pay, find a holiday home to suit your budget and stick to it.

What are Site Fees?

Holiday homes, just like regular properties require security, sewage and water drainage, refuse collection and roads maintenance and site fees cover the cost of these services. They can add a couple of thousand pounds to your annual costs but are standard, and invaluable when it comes to securing and maintaining your property.

Facilities

What’s included in the purchase price? Will you need to furnish your holiday home with white goods, curtains, carpets? Does it have a parking space? Will you get access to the facilities on the holiday park where it’s situated? Being able to enjoy your holiday home means investigating these points, and finding out about any additional costs or limitations so that you can make a well informed decision before committing to buy.

Can You Sub-Let?

Renting your holiday home out to other holidaymakers has two main benefits to you. Firstly, their rent payments will offset the costs of owning a holiday home, and secondly, having the place occupied while you are not using it secures it from break-ins and damage caused by damp. However not all storage sites or holiday parks allow sub-letting so investigate your options when choosing a location.

Maintenance

How able are you to maintain a holiday home? It may seem obvious that they’re not as robust as a traditional property, but being able to carry out tasks like clearing the guttering, preserving the locks for security and any seals for protection against damp and leaks requiressome level of skill and mobility. When you buy a holiday home, ask the seller about maintenance packages on offer which takes responsibility of these tasks for you.

Access

When can you use your holiday home and how easy is it to reach? If your intention is to own a property that you can go to anytime you like, be realistic about how far, and how long you’re willing to spend travelling to reach it and check whether there are any limitations on the times of year you can access it.  A holiday home is just that, and should never be confused with a permanent residence.

Try Before You Buy

Spend time on a holiday park before you commit to buying a holiday home on one. Check out not only the property, but the park facilities and the attractions of the town it’s situated in. Think about returning to the same place frequently and ask yourself whether it has everything you would like in a holiday destination.

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