When you hear somebody mention a mobile home, or caravan park, I envision the image you summon up is far from the lavish type of luxurious lodge developments which are now populating a few of the most beautiful parts of the country.
If you imagine of another home but purchasing abroad is simply not your thing, a luxury wooden lodge might be the answer for you.
With rates as much as 50% cheaper than a usual build house, and frequently situated on developments with a number of fantastic facilities, these lodges could make the model base for your own family holiday or quiet escape, however the leasing possibilities is enormous, so it might be the ultimate Buy-To-Let chance. With homes abroad becoming increasingly costly as a result of strong Euro rate and growing mortgage rates, the 7,500 wooden holiday properties presently in the UK are becoming an increasingly more desirable alternative. With leasehold prices ranging from 60,000, scaling to the 200,000 mark, this is an excellent option.
Needless to say, if you are trying to invest in one of these assets instead of use it just for your own private use, you can be interested in the rental income capability. Based on the season and the amenities offered, you will get a weekly rental income from 400-3,500! Of course, it is crucial to check with the site that sub-letting is permissible and you need to be attentive that numerous sites only permit tenure for 10 or 11 months of the year.
Lodges often have electricity and water facilities set and include the home furniture. There will be extras to pay for, such as a yearly site fee, and cleaning and maintenance. But with several sites proposing on-site restaurants, shops, spa, sports facilities, and swimming pool, your site fee in fact does pay for itself.
The lodges themselves are far from the conventional image of a customary mobile home park with an array of white caravans either side of a main track. You tend to be more likely to find these opulent wooden lodges secreted away in the midst of leafy glades, or by the lapping waters of a lake. Often with an outdoor deck, excellent interiors, and depending on your budget or necessities, often with a private hot tub on the deck.
So what are the advantages and disadvantages?
It is a less expensive way to have a second property with excellent amenities in a great place No flights to reserve or commission rates on currency to pay for With rental term of up to thirty five weeks. Fifteen weeks longer than the international season High weekly rental income potential Excellent bolt hole should you and the real estate properties have a free weekend
Lodges can’t be a permanent residence Cannot be signed up at Land Registry, although have ten year building assurance Some parks have conditions around sub-letting and are only open 10 or 11 months of the year You are able to own up to a hundred year lease, based what’s left on the property, but you do not own the freehold.
Another great article by Real Estate Guelph. Unique version for reprint here: Pros And Cons Of Investing In Luxury Lodges.
Other articles you might like:
- Company Investment- Related Guidepost For Business Investment
- Investment Software- Free helpful Hint For International Investment
- Sure Shot Account Ideas For Individuals Who File Tax.
- The Difference From Trading CFDs And Various Other Trading Markets
- Top Tips On Investing