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Everyone dreams about a complete lifestyle change at some stage in their lives and although the pandemic was a few years ago the legacy remains that there is more opportunity to work anywhere, enabling this dream to become a reality. Alexandra Hayward BA (Hons), Associate, Head of Stags Holiday Complexes offers her advice.
The draw of living in a beautiful part of the country, with the added benefit of an income and working for yourself, are attractive qualities to owning a holiday complex. Stags also sees a strong demand from potential buyers who are motivated by the multigenerational living opportunity that often accompanies Holiday Complex properties.
There are key points to consider when making this life change, and as the only estate agent with a specialist department dealing solely in the sale of self-catering holiday businesses, Stags are here to help and make it easier for you to live the dream!
A wide variety of people buy and run holiday complexes, such as independent buyers, couples and families, as well as extended families by including parents, siblings or even groups of friends. Multigenerational living is a big attraction for potential buyers who are looking for affordability, childcare and quality of life.
Who is making the move, such as grandparents or partners, will affect how many residential properties your holiday complex will need to have. There may be a range of possible homes on the property, the dwellings may already exist, or there may be the potential to build or convert an existing building.
Stags have experience dealing with a wide range of holiday businesses from traditional farmhouses with holiday cottages, to campsites, caravan parks and glamping sites. Some holiday complexes have facilities to host events, such as weddings or retreat packages.
For some buyers, their own home is the key factor and the holiday business needs only be a few cottages for additional income to cover any running costs. For others, income is the focus, with existing turnover and further potential being the driving factors.
As well as the holiday complex itself, individual lifestyle desires are important to consider. Whether you require lots of land such as equestrian facilities, lakes, or woodland, or if you want easy access to beaches and will affect the location and what type of property you need.
For guests at the holiday complex, proximity to major transport routes and tourist attractions might be a factor.
Work/life balance is a popular option. Lifestyle may be the main driver for you, or you may have experience in a similar business and want to be your own boss. Another common reason is the desire for something to keep you occupied if you are not yet ready to fully retire.
When choosing your holiday business, you will need to decide what level of involvement you aim to have in the day to day running of the business or whether you will choose to outsource certain services such as marketing, housekeeping, gardening and the cost implications of doing this.
Being the market leader, Stags has worked with holiday complexes in all parts of the beautiful South West. Location will be one of your major considerations, and is one factor you cannot easily change, so make sure it meets all your needs.
If you don’t have a particular area in mind, don’t forget to consider how close you will be to these important places:
Life-changing moves are smoothest when done at the right time. Ensuring conditions are right in your local property market when putting your own property up for sale will be important. Also, for those that have children, moving before they start school or when a change to the next school is planned, may be the easiest.
The team at Stags Holiday Complexes work with buyers and sellers who are ready to move right now, as well as to those who are carrying out initial research with a view to buying or selling their holiday business in two- or three-years’ time.
It is never too early to start making enquiries and discussing your situation with us, we are happy to help.
If you need to sell a property first, having an accurate estimate on the market value will be likely be key in knowing what your price range is for buying. If there are multiple properties to sell first, this is likely to take longer and tying all the sales together for the purchase will need to be considered. It is common for buyers to need a short/medium term rental while waiting for chains to complete.
If you need a loan to purchase your holiday business, do you have a lender in place? If not, Stags can help with recommendations. A property with holiday accommodation will generally be considered a commercial property so you will need to speak to someone about a commercial mortgage and ideally choose a company specialising in commercial finance for purchasing holiday complexes. It is also important you choose a solicitor that is well versed in these types of transactions.
The initial cost depends on many factors, such as the size, amount of accommodation, land, location, condition, etc. The Stags Holiday Complex team are knowledgeable and skilled in dealing with a wide variety of holiday complex sizes and types, and the team are experienced in finding the ideal lifestyle home for a buyer’s requirements and budgets.
As well as the guide price, there are some other expenses that should be factored in:
With 22 offices covering the whole of the South West, Stags is here to help. Our teams deal with a number of companies including specialist conveyancers and can provide details on request.
For help finding your perfect holiday business contact our specialist department today, or, if you are thinking of selling your holiday complex, you might find our six things to consider before selling helpful.
Holiday Complexes | 01392 680058
