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Holidays

Use our Travel forum for recommendations on everything from day trips to the best family-friendly holiday destinations.

Original poster

Should we buy a Holiday lodge?

44 replies

hvgg · 27/12/2023 21:49

We have stayed at this lovely Uk resort twice and loved it. It's about an hour away from elderly parents and great location with lots to do and facilities. Seems to be a lot of investment as they are building more
Lodges. It's about a 3 hour drive from our home but we both wfh and could spend time here when dc are not in school.

I've been thinking about maybe buying a lodge for our convenience when visiting family and also holidays ourselves. We have a flat we can sell to fund it with a small mortgage but the site fees are
10k a year but they reckon you can cover that easily with the rental of approx 2k a week in medium to high season.
The lease is 100 years so not sure what happens after that .. presumably can extend?

Anyone have any experience of this?

OP posts:
YouRatBastard · 27/12/2023 22:04

10k a year but they reckon you can cover that easily with the rental of approx 2k a week in medium to high season.
…and if you can’t? What about insurance costs too? Also Maintenance costs? Would you be able to cover all these costs if you didn’t get all the bookings you hoped?

https://www.oakviewlodges.co.uk/blog/pros-and-cons-of-buying-a-lodge/#:~:text=Cons%20of%20owning%20a%20lodge&text=Lodge%20owners%20should%20be%20prepared,cleaning%20after%20each%20guest%20leaves.

https://www.rock-wealth.co.uk/the-pros-and-cons-of-buying-a-holiday-lodge/#:~:text=Although%20you%20shouldn%27t%20need,able%20to%20secure%20a%20mortgage.

Do the t&c’s stipulate that the lodge must be less than X years old to rent it out on their site, or to even have it on their site? What happens if you want to sell it and it’s depreciated so much that no one else can get a mortgage to buy if off you?

There was a phone in on radio 2 sometime this year and people had lost £££’s on buying on holiday parks because of sneaky Ts&Cs.

Lodge

The pros and cons of buying a holiday lodge - rockwealth

Holiday lodges are all the rage. They're much cheaper than bricks-and-mortar homes, but are they worth buying?

https://www.rock-wealth.co.uk/the-pros-and-cons-of-buying-a-holiday-lodge/#:~:text=Although%20you%20shouldn%27t%20need,able%20to%20secure%20a%20mortgage.

MILTOBE · 27/12/2023 22:14

What would be there after 100 years, though? The lodge certainly won't be.

My cousin bought one - it was lovely, but the rules were really restricting. Personally I think you'd be throwing your money away and would be better off going to a hotel every now and then instead.

Elfon · 27/12/2023 22:53

To get the £2k a week you’d have to rent it out during school summer holidays which is exactly when you want to use it.

I don’t think it’s ever going to be a good decision financially but if you want to stay there and enjoy it then of course it can be worth it to you.

greasypolemonkeyman · 27/12/2023 23:16

Say it like it is, it's isn't a lodge, it's a fancy caravan and the depreciation is horrific. In your shoes I'd be looking for a flat or small home and get it on air bnb and find a local cleaning service.

Mountaindhew · 27/12/2023 23:25

It is a depreciating ( to negative value possibly as you will need to pay someone to take it off site in the end). But if it provides value to you and you are happy to sink the money it is worth considering. Go in informed and with your eyes wide open.

StJulian2023 · 27/12/2023 23:31

It sounds like a nice idea but to sell a flat to fund a lodge wouldn’t make financial sense at all.

idontlikealdi · 27/12/2023 23:48

If you're spending time there when dc are not in school you're not going to earn enough income. We sold up when Dts got
To reception for that reason. 10k is high. Is it south coast?

NoSquirrels · 27/12/2023 23:56

the site fees are 10k a year but they reckon you can cover that easily with the rental of approx 2k a week in medium to high season.

So high season (£2K a week) is going to be Easter if you’re lucky (2 weeks), May half term (1 week), summer holidays (6 weeks). So you’ve got 9 weeks to earn your £10K, really. How many of those are you wanting to occupy it yourselves as a family - at least 4, right? If not say 6?

If you’re willing to look at it as ‘I’m saving the money I’d otherwise spend on renting a cabin 4 weeks a year, and I get convenience on top’ then do it if it’s worth it to you.

But don’t do it on the basis you’ll ever make any money. Your aim is not to lose money.

whatsappdoc · 28/12/2023 01:08

One thing that always makes me think twice about owning a home that comes with high annual fees is what happens when you can't afford them so need to sell but no one wants to buy? The fees still need paying. Take the potential rental income with a pinch of salt.

scaredofff · 28/12/2023 01:13

Ohh it is a lovely idea - in a dream with infinite money to spare. I think this will cause you a massive headache and stress you don't currently have

Autumn1990 · 28/12/2023 02:12

It would probably be more cost effective to just book a lodge on the site when you want to visit. so even 4 solid weeks would be less than the site fees. Use the rental income from the flat to pay for it.

Giraff3 · 28/12/2023 02:17

Definitely look at t&cs
My nan had a static, brand new on a holiday site in prime position, what she later found out to keep that position after 8 yrs you need to sell and upgrade or your van is moved to a less prime spot. They only wanted vans of a new age on there. It was a headache for my mum to sell it private and give up the plot

Giraff3 · 28/12/2023 02:18

Autumn1990 · 28/12/2023 02:12

It would probably be more cost effective to just book a lodge on the site when you want to visit. so even 4 solid weeks would be less than the site fees. Use the rental income from the flat to pay for it.

this ^ makes perfect sense

MintJulia · 28/12/2023 02:27

Everyone I know who has bought a holiday lodge has been keen to get rid of it within a couple of years. So unless you have money to burn, no, probably not.

In the end the management company's profits come first.

penjil · 28/12/2023 02:41

I think like on caravans sites, you'll probably have to upgrade to a new lodge within so many years.....they don't like caravans over so many years old.

Don't forget about insurance too.
And having it cleaned if you rent it out. Plus, all the wear and tear. I wouldn't want to rent my 2nd home out.

It's either a 2nd home you use OR it's a rental for income. You shouldn't really mix the two.

penjil · 28/12/2023 02:43

By the way, £10,000 in ground rental per year sounds bloody horrendous.

You'll have to pay council tax too (unless it's a caravan) and also get a 2nd television licence.

Is the site open for all 12 months of the year?

Because many are open for only 8 or 10 months.

Original poster
hvgg · 28/12/2023 08:57

Thanks for comments

Good point about us wanting to use it during prime rental periods

10k includes all maintenance of the site but we have to pay electricity and water and insurance and maintain the lodge

The site is very upmarket and has a spa swimming pool bar etc . The lodges are all very modern and hi tech with hot tubs.

I understand it's a depreciating asset. I just thought with us always having to pay to stay near relatives it would be a good option and relatives can use it too on weekends.

If we get it for 100 years we and our dc as get older could come here often but need to work out what happens after that .. I wouldn't want it just to revert back as would want to either sell it or pass it on to family

OP posts:
LoreleiG · 28/12/2023 09:03

We have looked into this countless times and always decided it would be cheaper just to go on more holidays. Booking a lodge when you go will be stress free and cost less and you will still get the ‘it’s ours’ feeling about the site.

LegoHeads · 28/12/2023 09:06

Autumn1990 · 28/12/2023 02:12

It would probably be more cost effective to just book a lodge on the site when you want to visit. so even 4 solid weeks would be less than the site fees. Use the rental income from the flat to pay for it.

Great idea.Also means you’ll still have a valuable asset when you are no longer visiting relatives.

beachmum1 · 28/12/2023 09:38

I doubt the lodge would still be standing in 100 years to worry about what happens after!

bellac11 · 28/12/2023 09:44

Every now and then I look into this and come to the same conclusion, its throwing away money

I think that if you have a massive family who aree going to use it all year and its one of the cheaper ones with a lower site costs etc, then it might be worth it for all the comings and goings of family using it each year.

But for the purpose you're talking about, you'd get better value just staying in airbnb's yourself

Waterlooville · 28/12/2023 09:45

The trouble with renting it out is people will not take care of it in the same way you would, and that could be upsetting. A relative had one and would find things when they arrived for their break like damp mattresses where someone had wet themselves, and had not had the waterproof mattress protector on (probably wet from a previous night or something).

ANightmareBeforeChristmas · 28/12/2023 09:47

They have you over a barrel with maintenance costs etc. Renting it out would be a load of hassle and in a way would defeat the object of having it, which is presumably so it's available whenever you want it, you can leave stuff there and so on.

LambriniBobinIsleworth · 28/12/2023 10:07

My SIL did this with the big talk of "we'll get £2k a week for it in summer and that'll pay the ground rent!" Guess what- they didn't. They couldn't give away weeks in it. And they had to pay professional cleaners to come in after each lot of residents, otherwise they'd get bad reviews (and therefore less new bookings) but that ate into their profits. Ended up being a money pit what with ground rent, insurance, utilities and other nonsense. And then when they came to sell it after three years they only made a third of what they'd initially paid for it. They'd have been better off paying for hotels as and when they wanted to be down there. They lost a fortune.

Terryscombover · 31/12/2023 11:22

Don't. Please don't. It's a massive scam - unless you have money to lose - more than the initial cost of the van. Rental never covers costs, you end up not been able to use it anyway and you have sunk the money - you don't get it back.

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