- Posts: 73
I’ve been considering for a long time selling my current long-term let flat to go and buy a Holiday let.
My flat is currently let out and runs fine. The Tennant is very good, I get no hassle. However I believe if I sold it and went a bought a Holiday Let I would receive a better return.
Yes I know it’s more work and yes I know it’s more of a Risk. What are your thoughts? Is there anyone who currently has a holiday let??
- Greg Jones
- Posts: 16
I have friends who own a couple of Holiday lets and do very well out of it. I find that it takes up a lot of their time as yes like you said, it is more work.
There’s a lot of competition these days for holiday lets, where were you thinking of buying one? I know the Peak district and pretty much anywhere around wales does very well.
I think the main thing to worry about is the downtime between getting your flat sold and getting your new holiday cottage let out enough to start making money. It can be quite a time so you’ll need to make sure you can cover it.
- Posts: 17
You would receive a better return. yet you would be spending more time & money running it.
If you want to keep the hands off approach to your property, keep it how it is. If you don’t mind getting more involved. At least a day a week and more phone calls then go ahead.
I had a holiday let for around 3 years in Wales, It ran very well. The second year we were fully booked. I sold it as I had other business ideas.