A surge in interest has seen the holiday home coming back into fashion, with half a million holiday cottages in the UK and 330,000 park homes, giving you freedom to take your holiday on the move. However, when it comes to choosing a holiday home, many buyers need guidance to ensure they are making worthwhile investments, particularly if they are planning on letting it out.
Choosing the property
If you are purchasing for yourself, a park home can be ideal. However, if you are buying to let, homes sleeping between four and eight people are advisable so that families can be accommodated.
However, according to the BBC, 40% of young adults can’t afford to purchase even the cheapest homes in their area. Therefore, more compact holiday homes can also be a good choice for young people looking to move into their first home.
Certain areas, including the Cotswolds, Devon and Cornwall, and East Anglia, have rental seasons of between 16 and 20 weeks. Purchasing a holiday home in these locations can help you to achieve nearly year-round rentals. However, local rules usually insist that the property is not constantly rented out.
Gloucestershire is another popular location, offering plenty of picturesque parks for mobile home owners. If you are looking for park homes for sale in Gloucestershire, Park Home Life has a wide range of options available to view at http://www.parkhomelife.com/.
Choose the right equipment
Make sure you match the equipment inside your park home with the demographic you are appealing to. For example, if your property is aimed at families or groups, ensure you have a suitable number of beds.
Keep a keen eye on your finances and remember to factor in time where you park home will not be rented out. Also, keep in mind that any appliances and furniture need to be replaced occasionally, not to mention regular redecoration to keep the home looking in good condition.
In the UK, tax rules have changed recently. For a park home to be regarded as a Furnished Holiday Letting and fall under the most beneficial tax status, it should be available to rent by the public for at least 210 days each year and occupied for 105 days per year.