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Hi Folks
I an thinking of buying a holiday home in the UK. A friend of mine suggested that it can be profitable - you could get a home for around £20k and rent it out for £300 pounds per week. Therefore in 2 years, it has more than paid for itself.
Is it really as easy as that? What things would I need to consider in order to maximize my return on the investment, when choosing the holiday home.
Any advice greatly appreciated.
I assume you are talking about a static caravan on a holiday park at those sorts of figures. You need to be aware that you will probably be paying rent on the site even when it's not occupied, and you can't guarantee that it will be rented all year around (in fact, the park probably won't even allow occupation for 3 or 4 months out of the year). The rent you have been quoted may also only be for the peak periods (bank hoidays mainly) and you will also need to check whether the park even allows you to rent out the home - some don't.
It can be an investment, though I would suspect it will be over a much longer term - I'd try to speak to others who are doing the same and see how they are doing.
Thanks actd.
Any more advice would be greatly appreciated.
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