buying a holiday chalet to let

[Dave7]

Some great replies and interesting thoughts, thank you.
We only live 7 miles away so will manage it ourselves and do the cleaning and handovers. Im a very practical person so the maintenance side of things wont be an issue. It is coming with the maximum lease given by the site owners, 99 years as it will be renewed by the sellers before completion.
We actually looked after a chalet on the same site last year for an owner (cleaned and maintained) and got to know a couple of other owners of chalets they let, and turn over of customers seemed very good, lockdown permitting!
i think air bnb may well be the way to go, there are 4 on the site from our location and looking at the availability they all seem to fill up well, obviously standing out from them will be our priority, which we have some ideas on, but not forgetting it is a holiday let and not our main home. Site fees are pretty reasonable at £2100 so compares favourably with some of the bigger sites around. As for depreciation, looking on rightmove of previous sales, since 2015 prices have actually increased by some margin, so hopefully depreciation wont be too much of a problem.
At the moment we are living off savings, so although we dont expect it to repay us a 'living' wage, a few hundred here and there will be most welcome to suplement our savings.

Please respond with any more thoughts, positive or negative. And if any of you fancy a few nights in North Norfolk, it is only 7 miles from Cromer, and 15 miles form the beautiful broads, you know where i am.

We holidayed not far from there a couple of years ago. Cromer pier is nice and we well remember the crab fishcakes we had there.
Some pleasant cliff walks enjoyed also.

 

[Once a Wheeler]

@PaulSB this is the place

Nothing wrong with the basic idea as far as I can see. However, I find the location alarming. I would never buy a property so close to an eroding coastline. More here:
https://www.discoveringbritain.org/...itain-from-the-air-retreating-coastlines.html

 

[Ming the Merciless]

I always thought a staycation was taken at home? Hence stay...

Same here, a holiday in the UK is simply that, a holiday.

 

[DCLane]

Please respond with any more thoughts, positive or negative. And if any of you fancy a few nights in North Norfolk, it is only 7 miles from Cromer, and 15 miles form the beautiful broads, you know where i am.

If you do buy it send me some details.

 

[Broughtonblue]

Nothing wrong with the basic idea as far as I can see. However, I find the location alarming. I would never buy a property so close to an eroding coastline. More here:
https://www.discoveringbritain.org/...itain-from-the-air-retreating-coastlines.html

Luckily, the major gas works at Bacton is just up the road so millions have been spent recently, and will continue to be spent to keep the cliffs protected as best they can be. As this gasworks supplies the majority of gas to the south east of England.
https://www.newcivilengineer.com/in...on-sandscaping-protects-coastline-20-11-2019/

 

[Once a Wheeler]

Luckily, the major gas works at Bacton is just up the road so millions have been spent recently, and will continue to be spent to keep the cliffs protected as best they can be. As this gasworks supplies the majority of gas to the south east of England.
https://www.newcivilengineer.com/in...on-sandscaping-protects-coastline-20-11-2019/

The question, then, is one of timescale. How long will gas supply be important enough to merit exceptional expenditure to counter coastal erosion? Perhaps a long time; but my feeling is that it is not as long as that:
https://www.sciencedirect.com/science/article/abs/pii/S0301421517307693
Particularly if this is a property you would hope to leave to children, the chances may well be that in their lifetimes this coastline would lose its priority status and they would lose their inheritance. The writing is on the wall for all fossil-fuel energy sources. Personal choice and circumstances will prevail but, if this were my plan, I would be looking at a holiday cottage in the Peak District above the 50m contour. Good luck with your project, no matter what you decide.

 

[DCLane]

@Broughtonblue - did you progress this?

The reason I'm asking is SWMBO's decided she doesn't want an overseas holiday, or one somewhere busy, for a week at the end of July. I'd prefer to give cash to someone I'm aware of rather than a company taking a large amount of commission

 

[Cavalol]

We keep looking into it, but it's a rip off from start to finish. One place may have cheaper site fees, but will rob you blind in commission when you come to sell it, another will insist you only sell it back to them.

An example from someone I know well:

Bought caravan £19,995, not allowed to sell it privately. Just over 3 years later asks the park to buy it, offered £2,500. 'They lose money just like cars'. Seemingly a handful of caravans smashed to pieces by frustrated owners who refuse to let the site have it dirt cheap and would rather lose the lot. Caravan park not remotely bothered, they have stacks of spares to replace it.

 

[Broughtonblue]

@Broughtonblue - did you progress this?

The reason I'm asking is SWMBO's decided she doesn't want an overseas holiday, or one somewhere busy, for a week at the end of July. I'd prefer to give cash to someone I'm aware of rather than a company taking a large amount of commission

Offer accepted, just waiting for completion. Once that is done and we get the place into what swmbo decides is rentable, i will message you. But i think we would be possibly end of may 👍

 

[biggs682]

Offer accepted, just waiting for completion. Once that is done and we get the place into what swmbo decides is rentable, i will message you. But i think we would be possibly end of may 👍

Good luck and let's hope all goes well

 

[randynewmanscat]

Letting property is not a licence to print money.

It is in my old town.

 

[Dirk]

It is in my old town.

And here.
I was thinking of renting out my garden shed - only 1 mile from one of the best surfing beaches in the UK and a half mile walk to 4 good pubs.
Reckon I could get a grand a week, easy!

 

[slow scot]

And here.
I was thinking of renting out my garden shed - only 1 mile from one of the best surfing beaches in the UK and a half mile walk to 4 good pubs.
Reckon I could get a grand a week, easy!

Devon’s near Thurso! Who knew??

 

[Tenkaykev]

And here.
I was thinking of renting out my garden shed - only 1 mile from one of the best surfing beaches in the UK and a half mile walk to 4 good pubs.
Reckon I could get a grand a week, easy!

When I walked the path I had nothing pre booked so I’d phone ahead about lunchtime. I stayed one night in what was a glorified garden shed. Might be worth doing yours up and advertising it honestly. People like “ Quirky “ and you may well be surprised at the amount of interest.

 

[Broughtonblue]

So after many months of solicitors messing about etc, we are now up and running !