Seven steps to holiday home heaven
Growing numbers of people this year are becoming first-time buyers of caravan holiday homes and lodges, according to a major finance arranger for the leisure market.
However, says I.M. Financial Services Leisure, newcomers to second-home ownership on holiday parks should check they have the full picture before committing to their dream lifestyle.
The answers to seven key questions could help ensure that buyers' happy home-comings continue for years to come, says the company's Divisional Manager, Nelson Drinkwater.
"Having spent recent summers in Britain, many couples now want to own a more permanent bolt-hole in this country where they can escape to virtually all year round," said Nelson.
"Holiday homes on parks represent superb value at anything between five thousand pounds to quarter of a million - but it's important to go in with your eyes fully open," he advises.
He suggests seven revealing questions that would-be buyers should pose when second-home hunting, especially if they have never bought before on a holiday park.
"Remember that many parks close for two or three months in winter - so if you're hoping to use your holiday home off-season, check what its opening arrangements are over the year," suggests Nelson.
Secondly, he says, buyers can safeguard against any future financial surprises by checking what the park's pitch fees will be not just this season, but also the following year:
"Some parks offer a buying incentive by discounting pitch fees in the first year, so do check what the cost is likely to be after any honeymoon period.
"Thirdly, ask just how inclusive the pitch fees are, and whether there are likely to be any additional charges for water or other utilities and services," he said.
Electricity and gas are almost always metered separately, explained Nelson, so a buyer's fourth question should be what the unit costs are so that they can budget ahead.
Some buyers, he says, intend to let other people pay for their holidays by renting the unit out when they don't want to use it - and with proper planning, this can work very well:
"It's perfectly possible to cover all your pitch fees and more by generating a second income from rentals, and many parks help by taking care of all the advertising, bookings and other arrangements.
"If this is a consideration, a fifth question might be whether the park allows sub-letting - and if it can provide any hard evidence of what the annual earnings are likely to be," he said.
Sub-letting policies should be spelled out in the park rules, and Nelson suggests that your sixth question is whether any other conditions might apply to you, such as bringing pets to the park.
Finally, he advises arranging any finance with a specialist company such as I.M. Financial Services Leisure which has a thorough grasp of the leisure market on Britain's 3000-plus holiday parks.
"Holiday homes are all about relaxing and escaping everyday concerns - so for complete peace of mind, it's wise to get the key questions sorted out in advance," said Nelson.
More information about I.M. Financial Services Leisure, including a search facility for dealers and parks, can be found at: imfsleisure.co.uk