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Best place for a UK holiday home?

(6 Posts)
OfficeBird Mon 17-Jun-13 21:41:29

Have been lucky enough to have been left some money by one of DH's relatives, and we're thinking of adding to it and investing it in a UK holiday home, as that way there might be some capital growth, and we can also 'enjoy' it as a family, rather than just sticking in into equities etc.

I like the idea of a coastal retreat (we're in London) but don't really know where to start! Obviously love Cornwall, but can't help feeling it's been all bought up already and prices have been hiked? Perhaps Norfolk? Devon?

Key considerations are:

- Budget c. £400K max
- Would like 3-4 bedrooms so we/ the DC can invite friends
- Somewhere which will hold interest for the DC as they grow older (now nearly 14 and 11) I like the idea of somewhere we can walk out of the door into a bustling town, rather than having to drive.
- Accessible from SE England for weekends
- Ideally 'up and coming'?

Can anyone suggest anywhere they have experience of?

mummymeister Tue 18-Jun-13 23:06:23

are you planning on having it just for yourselves or letting it out? the two different options would lead you to pick different places. if just for you then pick somewhere close to home so you can nip away easily for weekends (under 2hrs is best) if you are thinking of letting then you need to pick somewhere that is open all year round. there have also been changes to tax rules about lettings so need some advice on this. also don't forget council tax. some places charge double for holiday lets. you will need to look into insurance if it isn't your main home and security. what about southwold? new forest?

Wuldric Tue 18-Jun-13 23:10:20

You have thought of Cornwall, which is lovely, but perhaps you might also think of Devon, or (and this is probably no further for you) the Lake District. The Lakes are lovely - property appreciates like billy-oh and around Windermere you would be pushed with your budget.

The other thing to think about is the tax benefit from furnished holiday lettings in the UK. It is substantial. We have a holiday home close to Nice and it is gorgeous, but doesn't offer the same tax benefits by a long chalk.

mummymeister Wed 19-Jun-13 23:04:38

wuldric the tax benefits on furnished lettings have recently changed and are nowhere near as attractive which is why so many are up for sale. they have to be actually let for a lot longer plus be available for letting. would suggest the OP gets some advice on this aspect before going any further as it might be a deal breaker.

Wuldric Wed 19-Jun-13 23:07:31

Yes, I know about the changes. They are still more attractive than owning a second home abroad though smile

BackforGood Wed 19-Jun-13 23:22:56

Depends where in London you are - you want to keep the travelling time down, and the biggest part of it would be getting round or across London if you bought on the opposite side.
Agree with mummymeister too, that it depends if you are looking to rent it out, or just use it for yourself.

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