Ideas anyone?

[Normandie]

I've voted you should look into the possibilities a bit further because that won't cost you anything and we learn from any experience. Don't underestimate the renovation and kitting out costs of course, but you're always going to have a market that close to Granville and when renovated, it will always hold its value because... it's close to Granville.

I suppose something I'd also be cautious about is that you'll have two large rentals in one village and I'd probably want to spread the properties around a bit.

Still, that's what I'm suggesting you do... speaking personally... bargepole / touch / wouldn't. If it has been on the market for that long in that area, it is very very dilapidated and overpriced!

[wallypott]

Hopefully going for a second visit, with builder, on Friday. I will post photos of some of the worst of it. The matching blue and pink sinks are the ugliest things I have ever ever seen.

[Musetta]

I agree with you Helen. Ours sleeps 12 and if we were going to buy another one it would be something that slept 2 or the traditional 6-8, or somewhere between the two. That way your business caters for most of the market. Why do I want to put 'dotcom' on the end of that sentence.

interesting! I feel the other way. I have the teeny, tiny home that sleeps 4 (but really only 2 adults) and the other one that sleeps 8 and, we've been eyeing other LARGER properties! I don't know this area, but, in many places, I think that larger properties are an easier sell...why do people rent a home rather than book a hotel room? in many cases, I think it is becasue it is more cost effective than multiple hotel rooms, or so they can spend time with extended family. The other thing is, I spend exactly the same amount of time (almost anyway!) on both properties, while the amount of revenue is very different. same goes for advertising, etc. - it costs me a HUGE percentage of the much cheeaper property - you don't get any listing discount for cheaper properties! That said, it certainly is a larger risk with the larger places because costs are higher - mortgage, property taxes, utilities, garden, etc. Still, we will be looking for another, bigger house in the future unless something really special catches our eye, of course

[Ju]

I completely fluffed the budget for my last project as I failed to realise the bank and I were not talking about the same things, i.e. the teaspons and the rest were not included. Also I forgot to include the painting which was seriously dim of me. You live and learn and its good to dream.

When we went to the bank for this project we treated it as a business loan (which is what it is) and I detailed all the work needed, including a heafty DIY budget (which I have forgotton on previous projects) as well as listing out all the furniture, room by room, all the kitchen equip etc. I then did a projected costing for the first year, on a good year and a bad year basis (ie good year = 20 wks, bad year = 12 wks). to include all costs including cleaning/ changeovers, gardeners, edf, tax fociere etc etc.

My figures showed that on a bad year we would break even (on that property as a stand alone) and on a good year we would make a tidy profit.

TBH if the bad year numbers has been a loss rather than a break even we wouldn't have gone to the bank in the first place.

In terms of big properties vs smaller ones, I am in the big property market, but I think you need much more outside smace for one big property than you would for say three smaller ones.