Holiday proposition - market research

[Observer]

Thinking of buying an apartment (2 bedrooms/sleep 4) at one of the marina developments (on the Solent) and letting it out as holiday accommodation. Also thinking might throw in free use of a RIB and watertoys subject to being satisfied that the proposed tenant has adequate experience.

1. Does this sound like an attractive holiday proposition?
2. Does RIB availablility increase attractiveness or neutral?
3. Where would be good place to advertise?
4. Any other comments or ideas?



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[hlb]

Sounds like a recipe for disaster to me.

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Haydn

 

[tcm]

I don't like this idea as investment- only if you yourself enjoy this particular setup -a rib and an apartment in the solent. But:

a) a mate had a spare house there, in Porto solente. He said if the weather was fine, he'd go down, get in the boat, and tootle about the solent. If the weather was crap, he wouldnt go down at all. He then sold the house (a very expensive place to keep boat keys) and got a larger boat, and made lots more mates all plonking around on the busier (non-private) pontoons. He didn't make a heap of loot on the buy/sell over 3 years.

b) I would only buy one of these if planning to keep it for ever - and I wouldn't plan to keep a cheap one for *ever* - tho a house in salcombe is different but erm nearer 500k-1million for decent waterside stuff.

c) I would never rent an apartment and boat - if really boaty, i'd get a boat, stay on it and go places. I bet an apartment and boat attracts slightly inexperienced types with dodgy unkeen crew keen to give it some welly rather than look after the boat.

d) The idea of buying a rentable apartment in not-very-fast-moving-market is neither fish nor fowl - if it's a great holiday, you'll want rid to get a better place. If it's a crap apartment/lifestyle, you'll want rid.

e) I bet you plan the apartment cos swmbo doesn't like the cold + wet. Swmbos like warm sun and flat seas. These are to be found in (say south of france or further south). So, with trailer, go down to s of france, park boat in Port Inland at Cannes and rent fab hotel room or praps fine but no-seaview apartment of which there are 5 zillion, all bort by rose-tinted northern europeans, keen to sell or rent, ahem.

f) You have got too much money. But what the hell - your life is now one long stretch of buying things cos you fancy them, and then selling them cos you're sick of them. So, twill be okay.

g) For these holidays rents you need serious backup in place: if you have two bookings (say) then wot if the first busts the boat? Money back please, we'll go elsewhere. What if the rib engine breaks down. And so on. Note to others: it is for these reasons that larger operators are safest for a holiday booking - they almost always have a spare boat if the preceding holidaymaker wrecks the boat, the boat breaks down and so on.



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[JohnR]

Buying property to let is daft at the moment. Say you spend £400K on a house you would want to see a 10% return or more to cover the tax man, the hassle etc. so thats £40,000 a year - would you pay over £3000 a month for a shoe box in a marina?

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[mainshiptom]

It looks like common sense has won the day, It is one of those looked like a good idea at the time !

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[mainshiptom]

It looks like common sense has won the day, It is one of those looked like a good idea at the time !

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[whisper]

You mean, like getting married !!

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[jimi]

Would'nt do it at the moment. Wait for property prices to collapse, then do it somewhere nice, not on top of a landfill site next to les Saileurs du Sol!

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