Holiday home.....madness?

[Desperateannie1]

Hi, looking for others experiences and advice on buying a small flat as a holiday home. We've saved a sum to extend our own home ( no mortgage) but think we won't get the money back so plan B is to invest in small flat with half savings and take small mortgage. Not stealth boasting because maximum is two small homes although more than lots I know. We're talking max £250,000 if we sold home and anticipated holiday flat.

We've done the sums and can afford it, with monthly outgoings of council tax and bills. The advantages are it provides a bolt hole and we are going through emotionally hard times just now, we enjoy our money rather than it sit in a bank and our family would have the enjoyment too. The disadvantages are the fear it becomes a black hole for our savings and we made the decision at a time we might not be thinking straight. Hence the appeal to you. Thanks.

2 hours ti to long - 4 hour round trip, thats half a day driving.

What var123 said, especially the sinking feeling of "what's gone wrong this time?" and landing yourself with QUADRUPLE chores (clean your own place before and after too).
We inherited MIL's flat which is in a very desirable tourist town. For sentimental reasons, which I wholly supported, DH kept the place as a holiday home but it was a huge drain on our finances (second house tax, standing charges for utilities and building maintenance). DS got fed up with the place and started saying he'd rather hang out with his pals. And we felt duty bound to have no other holidays.
So after three years we emptied the flat of personal effects (what a purge that was) and it's now rented out to a military family who we know will not be there forever so we could sell if needs be. They bring in a tidy amount every month even after tax, but more importantly we don't spend OUR money on the place!
So why not cut out the middle man and spend your extra cash on holidays that inspire you, and little treats during the year? I know I appreciate them more than that great cuckoo of a nest egg we had!

We have a holiday home in France, and buying it was a fab decision. From our perspective, it was never about an investment, but we didn't want to lose money.

We bought it 10 years ago and have paid off the modest mortgage.
We aim to cover costs of tax, insurance and utilities renting it to friends. It sent a money spinner!
We use it winter and summer, and would love to go more often.
We had 2 small DSs and liked holidays....without our place we couldn't have afforded to have as many holidays as we have had.
We have a small terrace but otherwise we lock it up and leave it.
I would like it if t was nearer....but then we wouldn't be in the s of France with skiing on the doorstep.

Perhaps we've been lucky, but neither DH nor I have any regrets. All our wider family thought we were bonkers when we bought it (me aged 33 on mat leave, DH away all the time in services, house a total wreck...) but they have long since eaten their words!

Hearing everyone's take is so helpful. Negative and positive! Having spent another day in hospital radiators post resonated... Not looking to make money but not wanting to lose it. This is all about enriching our life experience wise not making a shed load of money. We are actually quite frugal and a bit leftie so owning two places sits uneasily. But we've had a tough few years and I'm beginning to see that we have one life and need to make the most of it.
Can't thank you all enough for sharing .

I've been lucky enough to own two at different times in my life, one in Morocco and one in Spain. Both cost me more money than just the price due to constant service charges etc, but both gave us enjoyment in their own ways.
I am sure I would have had better holidays if I had bought a small investment flat around the corner from my regular home, and saved the income towards family holidays, I might have even saved some money. And I wouldn't have has the dread feeling that var describes!

Me and my cousin once had to break into the holiday home next to his house.

The water pipes had broke and there was water coming out the front door.

The ceiling was down when we broke in.
There is a very good reason why insurance companies insist that a home is not left unoccupied for more than a month or so.

can you not wait and make the decision when you're in a more stable emotional place?