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Property gurus - talk to me about holiday homes

(1 Post)
lamandler Wed 27-Jul-11 21:03:24

We sold a flat 6 months ago and now renting a house while looking to buy again in London. There's nothing coming up for sale and we are painfully aware that our deposit is sitting in a rubbish savings account earning bugger all.

We are thinking about what we can do to try to make money on our deposit, while we continue to rent here and thought about buying outright a small coastal cottage/flat. We would rent it and use it ourselves and with family/friends which would help to pay our rent in London.

I guess we are just worried about price inflation here, it's at least 10% more now than it was when we first started looking and we are being priced out.

The problem is we then have to start thinking about tax, and of course we won't have our own 'home' here at least for a couple of years.

Anyone have experience/advice? Are we being daft?!

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