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Buying a lodge: Your holiday lodge home ownership questions answered

buying a lodge questions answered

If you’re looking for a way to escape the hustle and bustle of everyday life and enjoy some peace and quiet in a place you love, buying a lodge might be the ideal option for you. Owning a holiday lodge allows you to create your own little piece of paradise in a destination you love, without the hassle of traveling long distances or worrying about finding accommodation.

Staycations continue to rise in popularity, making the idea of owning a holiday lodge an appealing investment opportunity. However, before making any decisions, it is essential to fully understand what is involved in becoming a holiday lodge owner and determine if it aligns with your financial and long-term personal goals.

This guide provides answers to some of the most commonly asked questions about buying a holiday lodge, to help you make an informed decision about whether it’s the right investment for you.

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Is a holiday lodge a good investment?
The pros and cons of buying a holiday lodge
Living permanently in a lodge
Getting a mortgage on a holiday lodge
Letting out your lodge
Considerations when buying a holiday lodge
Ongoing costs

 

Is a holiday lodge a good investment?

Determining whether a holiday lodge is a worthwhile investment  largely depends on how frequently you will use it. If you plan on visiting multiple times a year, then it could save you money venturing to other destinations, and offer a potentially profitable investment if you choose to sublet.

It will certainly remove the stress of finding alternative accommodation. Instead, you’ll have a comfortable and familiar setting to return to each time.

Holiday lodges are also more cost effective than traditional brick-and-mortar holiday homes. They are energy-efficient and fully furnished, which can save you additional money on furnishings and utilities. Additionally, purchasing a holiday lodge does not require any stamp duties, making it a more affordable option overall.

If you’re planning on renting out a holiday lodge, be aware that Oakview offer a fully managed service allowing you to sit back and enjoy the rental income.

Is holiday lodge good investment

 

The pros and cons of buying a lodge home

There are certain pros and cons to be aware of when buying a lodge. A lodge is generally cheaper than purchasing a second home and is not considered to be a second home for council tax, it also gives you the option to generate rental income and you can enjoy more holidays throughout the year with complete flexibility. On the other hand, purchasing a lodge is, like any other luxury purchase, a significant financial commitment.

Pros:

Oak View Lodge Park Leaf

Cheaper than a second home: Lodges are a more affordable option compared to a traditional second home. They are typically designed to be energy-efficient, which can help reduce your long-term costs. Additionally, many holiday lodges come fully furnished with modern amenities like on-site Wi-Fi, plus you won’t have to worry about paying stamp duties or council taxes.

Oak View Lodge Park Leaf

Rental income: If you don’t use your lodge regularly, you could choose to rent it out and generate additional income.

Oak View Lodge Park Leaf

Enjoy more holidays: With your own holiday lodge, you can travel there as often as you like without worrying about booking flights and hotels. This means you can enjoy more holidays and getaways throughout the year, whether it’s for a special occasion, or a spontaneous weekend away.

Cons:

Oak View Lodge Park LeafPurchasing a lodge is a significant financial commitment

Oak View Lodge Park Leaf

Operating costs: Annual site fees are payable and you will also be liable for metered energy usage

 

 

Can you live permanently in a lodge all year round?

The park is non residential, and whilst you can spend as many days as you decide, you will need to have another registered residential address.

The park is open 365 days a year and fully accesible to all lodge owners.



Can you live permanently in a lodge

 

Can you get a mortgage on a holiday lodge?

Yes, you can get a mortgage for a holiday lodge. But it’s not quite the same process as getting a mortgage for a traditional property.

There are specialist lenders out there who can help you finance your dream holiday home. Just be aware that they might have different criteria and requirements for approval. They’ll check things like the condition of the lodge, where it’s located, your credit score, and your deposit.

The amount you’ll need to put down as a deposit for a holiday lodge mortgage could be higher than a standard brick-built property; usually around 20-30% of the full price. Brace yourself for higher interest rates, too.

It’s worth doing some research and shopping around to find the best mortgage option for you. A mortgage broker that specialises in holiday lodge mortgages could also be a big help and the staff at Oakview can also provide assistance.

 

 

Can I buy a lodge to let out?

Yes at Oakview you can sublet your lodge.Oakview also offer a fully managed rental service taking care of the rental process and maintenance of the lodge, making it a hassle-free investment option.

 



Can I buy a lodge to let out?

 

What do I need to consider when buying a lodge?

Before taking the plunge to buy a holiday lodge, there are various aspects to consider including your personal needs, location, budget, facilities, opening times and any potential restrictions:

1: Think about your personal needs

Before you start your search for a holiday lodge, take the time to zero-in on what really matters to you. Consider the number of rooms and amenities you require, plus any specific features that are important to you. By doing so, you’ll avoid the temptation to buy a lodge impulsively, based on its appearance or price, only to find out later that it doesn’t meet your needs.

2: Pick an appropriate location

Picking the perfect spot for your holiday lodge is key, and it all depends on what kind of adventure you’re looking for. Oakview is located in a quiet and beautiful countryside location but located convieniently close to major road networks.

Don’t forget to think about how long it’ll take you to get there too. If you’re planning to visit your lodge often, it’s smart to choose a location that’s convienient to travel to.

3: Be smart with your budget

While you may be tempted to go for the biggest, most luxurious lodge available, make sure you stick to your budget.  With this in mind, be sure to prioritise what’s most important to you. Oakview has a broad range of lodges available, with 2 to 4 bedrooms and a range of price points.

4: Opening times

Oakview lodge park is open 365 days of the year.

5: Rules and restrictions

Oakview has a minimal number of important rules that are designed to ensure that all our owners are safe, and everyone is able to enjoy their lodge without distruption.  Rules are available on request.

 

What is the ongoing cost of a holiday lodge?

Site fees are £5,800 per year and you will also need to arrange insurance.

1: Site fees

Annual site fees are £5,800 and these go towards the general maintenance of the park for the whole year including security, grass cutting, landscaping and general upkeep, as well as unlimited access to all park facilities.

 

2: Running costs

Similar to owning a typical property, owning a holiday lodge also involves ongoing running costs. These costs include rates, water, gas, electricity, and insurance. It’s important to keep in mind that these costs may fluctuate from year to year.

 

3: Insurance

When you own a holiday home, taking out an insurance policy is crucial. The cost of insurance can be influenced by different factors, such as the type and size of lodge you are buying. Generally, larger and more expensive lodges will have higher insurance costs due to their value and potential risk. Therefore, be sure to do thorough research and compare insurance providers to find the best coverage for your specific needs and budget.

What is the ongoing cost of a holiday lodge?

Buy a lodge in North Wales today

Owning a holiday lodge can be a wonderful way to enjoy the beautiful UK landscape while creating cherished memories with your family. However, before making a purchase, it is essential to conduct thorough research and evaluate whether it is the right investment for you.

If you’re considering investing in a holiday lodge, you can explore the picturesque landscapes of North Wales and enjoy countless holidays all year round at Oak View Lodge Park. Discover hidden gems on woodland walks in Ruthin or venture further to Snowdonia National Park, Conwy, Anglesey, or the Welsh coast, all less than an hour’s drive away.