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Articles: Can’t afford a holiday home?  You could be surprised SB May 2007

 

When you think about buying a holiday home, what picture do you have in your mind?  A secluded cottage along a pretty country lane?  A fisherman’s house beside a little sandy cove?  You may have found that prices for the holiday home you envisaged have already gone beyond your reach.

If this is your situation, don’t give up.  An alternative kind of holiday home that’s growing in popularity is the holiday park home.  And the cost of this is within most people’s reach.

There are a number of advantages in opting for a holiday park home.
 

  • No tax implications – although a residential park home is liable for Council tax, owning a holiday lodge does not incur Council Tax.

  •  
  • Holiday parks are located in some of the most stunning areas of the country like Cornwall and the Lake District – areas where the cost of a traditional holiday home might well be out of your reach. 
     
  • There are different types of holiday parks to meet different needs.  Some, like the Flamingo Land holiday park in North Yorkshire, are designed for people with young families and provide a range of holiday entertainment.  Others, like Hilton Woods in Cornwall, offer more seclusion and privacy, suitable for people who like a quieter holiday.
     
  • The lodges are eco-friendly and built for minimum environmental impact.
     
  • They are built to very high specifications and have luxurious interiors.  If you buy an old cottage as your holiday home, you may have a lot of very expensive alterations to do before you can use it.  A holiday park home is ready for you to walk into.
     
  • The parks are managed so there is no worry about security when you’re not there.
The good news is that you can buy a holiday park home for under £100,000.  The not-so-good news is that you can’t usually get a mortgage.  However, there are specialist holiday home mortgage companies who specialise in providing finance for holiday lodges.  And their greater affordability means that you may well be able to release equity from your main home to buy one outright.  Talk to your mortgage broker or adviser for more information

 

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