Would you buy a holiday home and sacrifice holidays abroad?

[WhereIsTheSaladDoris]

Definitely not a stealth boost but I’m in conflict right now in what to do. I can’t talk to family / friends due to their personal situations and it would be unwise and unfair.

We’ve been saving for years, for a “rainy day” and our investments mean we now have enough to purchase a decent caravan or put a deposit down in an apartment.

DH wants to buy a place and I’d prefer that over a caravan. If we do that, it’s a commitment.

We wouldn’t rent out (perhaps to family/close friends) and would have all holidays in that location (looking at Devon). It would mean no holidays abroad (normally once a year) but more time spent in that location (one of us in education so half term and summer holidays could be at the holiday place). The area we like we know fairly well.

These are the types of places we’re looking at:

www.rightmove.co.uk/property-for-sale/property-72298794.html

www.rightmove.co.uk/property-for-sale/property-71549115.html listed building so I’m a bit put off

www.rightmove.co.uk/property-for-sale/property-82926667.html

Then in the next breath, the panic sets in and I think about risk of being out of a job / how others are less fortunate to not even have one house let alone too (guilt) / the pressure to keep a second home.

Anyone made a decision like this and regretted it? Do the benefits outweigh the potential risks?

@ClamDango It’s a lovely site that is. I remember staying there when I was little. I will take another peak

@bookmum08 Good question what do I want from a holiday. I love being in place that I can relax in because it has everything I need. I love coming home from holiday (I know, I’m weird) I love my home comforts, so when I go away, I miss them (unless we holiday in the UK and we pick a home from home type of place, as opposed to a hotel. On reflection, I wouldn’t relax in a camper van. I’d worry we’re parked somewhere we shouldn’t, or what if it breaks down, or when / how will I have a shower.

I see whatever or where ever we buy as a place to go to to get away: so either all of us, or me and my friends, me and DC or DH on his own, or sending my family off to chill out there (without charging).

As I said up thread, I’ve likely romanticised what I have in my head!

They also have lodges and site fees are free for this year.

Id only buy a holiday home for personal use if I could buy outright with no mortgage and afford to pay for a gardener and someone to carry out maintenance work, so when I visited I didn't spend all the time doing jobs and keeping on top of it.

If I had 30,000-50,000 I could spend and not need to see as an investment, I might go for a caravan or lodge somewhere with a view to having it for X years....they depreciate rapidly and often have to be moved off the site at some point if they get beyond a certain age, and at that point have very little value. See it a bit like a vehicle that depreciates and you either have for 3 years and sell on, or keep longer and know it won't be worth anything at the end. Given all the costs you can avoid which was associated with proper property, it might not be such a daft idea if the ownership issue has huge appeal to you.

Alternatively, rent somewhere for 6 months or a year. It will feel like yours and you can see how it feels.

Oh and Id only buy a lodge or static caravan on a very particular type of site and one I'd known very well....not a Haven type place.

Whilst in my 20s , my parents had a static caravan on the Thames in the grounds of a stately home just outside Henley. It was a private site with a small number of static caravans and some luxury lodges. It was very exclusive and not even somewhere lots of local knew about. They had a boat they could launch on the river in about 3 minutes and spend lomg holidays sitting by the river and going to pubs etc. Everyone on site owned their static and renting them out wasn't allowed. There were pretty large site fees but still less than things like council tax and all the maintenance involved in a house.If I remember correctly, my parents bought it with a clear view to have it for 5 years and to sell back to the site as it would be within the age they would accept it back - they knew its value would have dropped significantly in that period, but they didn't start by seeing it as an investment but a spend to give pleasure. As they actually only lived 30 mins away, they spent most weekends there between Easter and the Autumn and as both worked in schools, had 6 weeks there every summer. I had lots of if happy memories of time there with friends, messing about on the river.

It worked for my parents because they saw it as a short term thing. It was 5 years and it wasn't an investment but a spend. They had however many thousands it would cost over 5 years and were willing to spend it for the beautiful location and their own place for 5 years. They didn't feel the need to have it forever and didn't have the burden of gardening and maintenance etc - it really was a turn up and enjoy yourself place. Their site fees meant the grass was always mowed etc and not being a house, meant it didn't need lots of maintenance and didn't cause worry for them. For them it was the right balance and gave them huge pleasure.

When they sold it, they then bought a camper van, with a similar view of 3-5 years and sell on. Again, it wasn't an investment as it depreciated, but a spend for pleasure. It is possible to go for short term ownership of certain property type assets and see it as spend not investment....a different mindset, but can give lots of pleasure. Also means if it means you won't have holidays elsewhere, it's a pretty limited time period that you are tied to one area...and then you're free again to roam the world, or buy somewhere else that ties you.

I don't think these are what Op is looking for, but might be food for thought for some others considering holiday home ownership. Really needs to be a place you absolutely love and know first I think, rather than the desire for a holiday home and then you look at sites.

Someone has to own holiday rental properties
Yes but the OP isn’t going to be renting it out. Holiday rentals that are used for much of the year are at least helping the local economy if people eat out etc.

why are the buyers the baddies never the sellers?
Because they’re the ones buying it knowing it won’t be lived in!

We have a weekend / holiday home and it has been a huge pleasure for us. We have two of everything so no need to pack all the time and a weekly cleaner who is a gem and someone who mows the lawn and trims hedges when needed. Because of our amazing cleaner and the brilliance of online food shopping, our weekends and holidays spent here are really relaxed. We lend it to friends and family regularly and don’t make a bean off it, but it was not expensive to buy as out in the sticks and I don’t care if I never go abroad again.

We sadly didn’t use it during lockdown for obvious reasons but having the help that we do, they checked on it and they tell us if anything seems out of the ordinary.

If we ever need to sell it, I think it’s gone up in value and if we retire to it, we can rent our London home out to keep us in bills money. The kids love it while they’re small too. As teens we don’t expect they will feel the same way but who knows!

I would never do this. Holidays in this country have not been as good as my holidays abroad.

We have thought about this a lot (not for now but the future) and find that air bnb staycations and one break abroad works better and cheaper for us. I think it's not a holiday as a poster put up doing the wifework when you are away.
But you know yourself if you think you would use it say one every six weeks or something? Go for it. How will you manage family and friends asking to stay? I wouldn't be too happy being out all the expense and then feel obliged to offer free holidays. But maybe your family are not like that?

If you are considering it I would go to the area many times to make sure it is what you want and that you will not get bored of it. Have you thought of buying abroad? We did and paid a lot less than the flats you are looking at and have a 4 bedroomed terraced house with mountain views, a swimming pool (we had installed for around 20,000 euros) and a garden. We just looked for somewhere within an hours drive of an airport so we knew we could always get cheap flights. As others have pointed out, there is the moral question of second homes and yes, I do feel some guilt. We bought in an area that is depopulating anyway, try to give work to the locals and help by supporting local businesses and always getting involved in local events (and learning the language). I also let friends, friends of friends and family who would otherwise not afford a holiday use it. I guess there are a lot of factors - some areas, such as Yorkshire Dales, have been totally taken over by second homes and the locals cannot afford to buy but this is not always the case.

Depends on your stage of life. We spent 3 decades (20s, 30s, 40s) holidaying abroad, up to 3 times per year, so have seen dozens of different places.

I don't regret any of that, but now in our mid 50s we're finding foreign travel pretty stressful, exhausting and unpleasant. Our nearest big airport is Manchester which is a hell-hole at the best of times with ridiculously long queues and horrible people at security/scanning, and awfully cramped in the shopping/eating areas (particularly T3). We try to go from Liverpool when possible, but the choice of flights is very limiting. The "joy" of flying has been sucked out for us.

We've started holidaying in the UK more which we find a lot more pleasant and less stressful. We're now seriously thinking about a "bolt hole" in the UK just for somewhere to escape to, even for long weekends, and occasional 1/2/3 week stays maybe 2 or 3 times a year.

So, yes, I can certainly see the appeal for the OP as it appeals to us too. We have actually said that if we never flew again we wouldn't miss it. But we still want holiday time. I think there does comes a time when you've "been and seen" enough of the World - so many places are basically just the same. When you've seen palace of Versailles and you go to Peterhof palace in StPetersburg, you realise it's just the same. One Med resort is the same as all the other Med resorts.

If you want to then why not! the moral issue of second home ownership is a real issue but the things i would be wary of

Leasehold - every flat will be leasehold fees can be large and way out of proportion to what you feel you get for your money

double bills - you will be paying same amlunt again in council tax etc can you afford this can you manage the admin that goes with it

buying - now is the time before stamp duty goes up again also be aware stamp duty on any second home is more than on your first residential home.

if it were me i would buy a house with parking freehold and this gives you room to grow into (if your budget can be stretched)

I wouldnt. Firstly that’s 2 houses to up keep, bills, maintenance etc. Secondly I like hotels abroad, meals provided, guaranteed sun and the beach.