Buying a Holiday Lodge
Is buying a Holiday Lodge a good investment?
In many respects considering the value of a lodge is no different to valuing a conventional home. The old saying, "Location, Location, Location" is as relevant as ever but also no one wants to buy a second hand lodge that hasn't been lovingly cared for, so condition is very important too!
The general rule is, as house prices rise and fall, so do lodge prices. After all many people live in their lodge all year round or for as long as the park is open, depending upon park status. Not all plots are the same and so it is inevitable that some will be naturally more desirable than others due to location, privacy and various other factors. Obviously the more desirable the plot the greater the resale value.
The main reason people buy leisure lodges is to make significant improvements to their quality of life. For most people buying a log cabin is not considered an obvious investment opportunity.
How does the buying process work?
Assuming you have decided to site your holiday lodge at Homestead Lake Country Park, securing your favourite plot will mean paying a holding deposit. Unfortunately due to demand this is the only way to ensure you get the plot you want.
Next, the exciting process of planning your dream lodge can begin in earnest. Very often this involves trips to at least one leisure lodge manufacturer for a real hands-on designer experience.
Once you have decided upon the lodge of your dreams a legal agreement has to be signed. The written agreement is a legal contract between you and Homestead Lake Country Park that includes, basic tenure rights, minimum length of tenure and the right to re-sell your lodge to a third party.
How are lodges paid for?
The payment process can vary depending upon your circumstances but generally the following terms apply:
Show Home Purchases
If you are purchasing a show home a holding deposit of £5,000.00 is paid. Within 14-days a minimum of 10% of the remaining balance is due with the final payment made upon completion of the sale.
For new lodges a holding deposit is required to secure your preferred plot. A further 50% is due before a new lodge can be ordered for production. The balance is due on an agreed date once the lodge is completed and your ready to take ownership.
Many of our customers have investments to realise or properties to sell before they are able to identify a move in date. In this instance we are happy to work with you, provided we are kept informed of progress.
Do we need assistance from a solicitor?
No, the process of buying a holiday lodge is far simpler and does not require the involvement of a solicitor. Of course if you would prefer to have a solicitor oversee the purchase this is perfectly plausible.
Is it possible to get a mortgage on a holiday lodge
Many people tend to fund the purchase of a holiday lodge by either selling their home or by cashing in investments. Of course not everyone is fortunate enough to have an investment pot to dip into but there are specialist finance companies who offer loans for individuals or couples looking to buy a leisure lodge.
One such company is UK park Finance. UK Park Finance (ukparkfinance.com) is an established broker specialising in the procurement of finance for park homes and holiday lodges.
Owning a Holiday Lodge
Is Homestead Lake Country Park open all year?
Homestead Lake Country Park is a holiday park not a residential park. Holiday parks are not permitted to open all year round and must close during the off-season. The park opens from 1st March to 16th January, making the open season approximately 10 ½ months.
During the the open season holiday lodge owners have full access to the park and park facilities.
Can the park be used to accept mail on behalf of lodge owners?
Homestead Lake Country Park does not accept mail on behalf of lodge owners. However, most lodge owners do take advantage of the Mailbox service provided by Weeley's very own Post Office.
Homestead Lake Country Park will accept van/courier deliveries on behalf of anyone staying at the park but notice of such deliveries must be provided to the park in advance.
Is visiting the park permitted during the closed season?
During the 6-week closed season, leisure lodge owners have temporary access to lodges during the day. For security reasons, access to lodges during the closed season must be booked in advance. Off-season visits are primarily designed to provide lodge owners with peace of mind.
What do owners do in the closed season?
Many lodge owners who use the holiday park throughout the season also have a home abroad. Due to the low cost of holidays during the 6-week closed season many lodge owners choose to spend time travelling or on holiday. Other lodge owners visit or even stay with friends and family until the holiday park reopens. Whatever they do, everyone seems to arrive back on the 1st March relaxed and refreshed.
Why buy a lodge at Homestead Lake?
There is no doubt that Homestead lake is a beautiful setting but the park is also very well managed, which for the majority of lodge owners has great appeal. Over the last 20-30 years most lodge owners have benefited from an increase in property values, which has enabled them to release equity and make significant improvements to their lifestyle at the same time. Buying a smaller bricks and mortar property is still an expensive proposition and of course conventional homes attract higher running costs that can be difficult to justify.
A holiday lodge at Homestead Lake Country Park offers a healthier and alternative lifestyle where, inner peace and deep relaxation are common place. In addition, when you step out of a Homestead Lake Country Park lodge, you step into the world of the super wealthy, surrounded by countryside, wildlife and lakes, all at a fraction of the cost!
Do lodges have their own telephone line
All lodges have telephone and broadband capability and many owners have satellite TV (satellite dishes are kept out of sight).
Can a lodge be left as part of inheritance?
Ownership of a lodge remains in the hands of the owner, or his/her estate in the event of death.
Lodge owners are provided with a licence for the base on which the lodge is situated. This license, which lasts for a guaranteed period of 40-years. If you wish to transfer ownership of the license, simply make the park aware. It is important to bare in mind that the beneficiary must be of a suitable character to be able to use the park, so new owners are carefully vetted to ensure they will not upset other lodge owners on the park.