It is not often that you can have your cake and eat it. However, in owning a holiday home, you may just be able to do that. In the current era of low return investments, it is difficult to know where to invest that nest egg in place where the yield is acceptable and the capital is likely to stay intact. Consider therefore if you could meet those criteria and add free holiday accommodation to your overall return.
Symonds and Sampson, Bridport are lucky enough to work on the iconic Jurassic Coast, a World Heritage Site which, as the designation implies, is some of the most beautiful coastline in the world. In recent years we have seen more and more investors with families buying property in the region in order to enjoy at least one holiday a year and then letting the property for the remainder of the year yielding a reasonable rate of return. A bonus is that the property will of course be cleaned and kept in good order as a matter of course and then there is the stress-free bliss of a UK holiday in a familiar place.
Taking the holiday out of the equation, yields on straight residential property lag by 2% to 3% below holiday let levels, however it is also as well to remember that there are additional cleaning/maintenance costs that will reduce the overall return. In the last year we have sold chalet properties on or close to the beach at West Bexington, West Bay and Eype, and coastal properties currently on the market include Port Cottage at Eype (main picture) and Ash Cottage, Chideock (below), situated within walking distance of the beach at Seatown and The Anchor, a pub at the top of its game!
So next time that you consider where to invest you really can have your cake and eat it! Contact Steve on 01308 422092 to find out more about these and other opportunities.