The benefits of owning a holiday home - is it a good idea?
PUBLISHED: 08:00 24 May 2019 | UPDATED: 10:10 24 May 2019
The rising trend for staycations looks set to continue, as Brexit uncertainty makes holidaying in the UK an increasingly attractive option - as well as providing a savvy opportunity to invest in a holiday home.
If the idea of escaping to your own holiday home for some well-earned rest and relaxation sounds appealing but you're concerned that it's too expensive, that might not be the case.
A holiday home can be much more than a place to spend your leisure time; it can also provide valuable income as a holiday rental, especially as the number of Brits looking for UK getaways is on the rise.
Here we answer some common questions about owning a holiday home:
Where is a good place to buy a holiday home?
Holiday homes are experiencing a boom, and for many the decision on where to buy will come down to a number of considerations. From a personal point of view, a journey of no more than a couple of hours is ideal, as you want to be able to take last-minute holidays without the chore of driving for hours on end.
This is also the case when considering your potential customers. Owning a holiday home that is within a two-hour drive of a major city is ideal for short breaks.
"We're seeing more and more demand for micro-breaks," says Benjamin Race, group sales and marketing manager at Tingdene Lifestyle, which has four holiday parks in Norfolk and Suffolk.
"It's a real boom area, with people coming over on Friday night after work and school, then heading back on Sunday afternoon.
"Being close to popular tourist spots such as Southwold, which is just a 10-15 minute drive away from Broadlands Park & Marina, also keeps occupancy levels up."
The location also needs to be appealing once you step outside the holiday home, and with their beautiful coastlines, the unique Broads National Park, as well as a rich history and heritage, Norfolk and Suffolk are hotspots for domestic breaks.
How can I earn extra income from my holiday home?
Buying a holiday home for investment is actually pretty simple. Once you've purchased your holiday home, decide on the dates that you and your family would like to use it and then open up the rest for holiday rentals.
To help owners get the best return from their investments, Tingdene Lifestyle has a Managed Letting Scheme in partnership with Hoseasons. Those who sign up can benefit from a steady flow of bookings as well as management of the property.
"We have a mix of holiday home owners; some buy the properties solely for their own use, some let them out just enough to cover the average running costs (£4-6,000 per year), while others see them purely as an investment," says Benjamin.
Is owning a holiday home a good idea?
If you like the idea of a home away from home without searching for hours for the best holiday deals and stressing about getting to the airport on time - it's definitely worth it.
Add to this the weak pound, concerns over security issues, and Brexit - with the possibility of changes on free movement between countries in the EU making travel abroad more complicated - and the idea of a holiday home looks even more appealing.
If you have your own holiday home then you can plan several family weekend breaks, or long weekend breaks throughout the year.
Combine this with the income you could make from holiday lettings and the only question to ask yourself is: "Why haven't we done this already?"
Is owning a holiday home worth it?
That much-needed annual holiday abroad can easily cost you two months' wages or more, especially when you start adding in all the other items on your pre-holiday checklist: car hire, airport parking, insurance, spending money...
And while fellow staycationers drive up the demand for holidays in the UK, you can get the best of both worlds with a holiday home investment that makes you money when you're not using it.
How long can I stay in my holiday home?
While holiday homes cannot be used as a main or sole residence, many parks run by Tingdene Lifestyle have a 12-month holiday occupancy which means owners can use their holiday homes all year round and potentially earn an income all year round from holiday lettings, too.
The UK has such a lot to offer throughout the year and owning a holiday home gives you the opportunity to enjoy a break in all seasons.
For more information on the benefits of owning a holiday home visit www.tingdenelifestyleparks.co.uk or call 0800 270 7722.