Apartment or house? Swanage or Bournemouth?

If you are planning to buy a rental home, or you're thinking about what to do with one you have just acquired, this is the place for any questions about starting out in the rentals business.
P&L
Posts: 2
Joined: Thu May 07, 2020 2:05 pm

Apartment or house? Swanage or Bournemouth?

Post by P&L »

We’re thinking of purchasing a property in Dorset (Swanage or Bournemouth) as holiday let but also to use for our own holidays and weekends (we’re a family of 5). Ideally we’d love a 3-bed house but we can save about £100k by getting a 2-bedroom flat in the same area and not have to worry so much about the mortgage.

Is there much more demand from guests for houses than apartments, given that apartments rent for less?

Also, does anyone have an opinion on whether Swanage is a more popular area than Bournemouth (the Southbourne area)?

Many thanks!
zebedee
Posts: 1270
Joined: Fri Sep 12, 2014 2:57 pm
Location: yorkshire dales

Post by zebedee »

I would always recommend a house rather than a flat. With a flat, you have additional costs for the building which are outside of your control. A management company can legally make you pay for building work that you may think is unnecessary eg they decide to relay the car Park even though you think it’s ok.

Think about Grenville. Many people now cannot sell their properties and the costs of removing g the cladding is astronomical.

From a holiday let point of view, you may find the lease prohibits you from this, but the real issue will be your neighbours and the amount of disturbance from guests up late at night, having a drink / party etc. Neighbours could resent you and make your life and the life of your guests very difficult. This is worse case scenario of course, but it happens.

A house is a much better option.
Post Reply