Smkxh95

Afternoon all.
Bit of a random question on a car forum but I know people on here are from all walks of life so would like a few "second" opinions on the purchase of a cheap holiday home.
Now this is the situation. I am lucky enough to have a few bob behind me not minted by any means but am thinking of investing in a cheapish holiday home of about 15k. Now, the home Is leasehold with a lease expiring about 2070 so ground rent has to be paid each yr of about 700. Plus other bits like insurance and council tax so probably looking at a yearly cost of 1500 just to have it there. Obviously this costs can be recouped by letting to family and friends at reduced rates to get some money back for ground rent etc.
I am not doing this to make mega money but simply be a nice place to take my daughter and family and of course free holidays as much as we like (work and school permitting)
So what us your views? As I know people on here some work with property etc and some people in here are quite switched on with regards to life and money etc.
Also if some of you have holiday homes do you use them as much as you thought? Or just a waste of time?
many thanks in advance
Sorry for a random question but I thought the sn community is the way forward lol

Graz

It's a nice idea but for me having a holiday in the same place year on year would soon becoming pretty boring.

That said if the proposed changes to pensions where you could invest your personal pension in residential property had ever happened then a nice holiday cottage / retirement fund by the sea would have been a consideration

EddScott

A work colleague has a static caravan in a caravan park in New Quay Pembrokeshire. Pembs is a bit of a trek but a lovely place and I think he can ask up to £500 a week. Not sure how much he actually receives over a year so not sure what the actual yields are.

gpssti4

iTrader: (6)

I don't have one, but I do live in an area where there are plenty. For £15k I would expect that you're looking outside of the UK? Are there any other fees to pay, have you considered transport costs, is it in a holiday park/village or is it a self contained cottage/flat etc.

ScoobyWon't

Avoid Time-share.

Smkxh95

Thanks for replies guys. I know what you mean by being in the same place but me and the Mrs love it where it is. Sort of typical seaside cliché but sort of homely? It's not a timeshare won't but into those things! It's a two bed chalet in Norfolk nog everyone's cup of tea I know but each to their own lol
Thanks for the replies guys