There are many benefits that come with a holiday lodge homeownership. It gives you the freedom and flexibility to check into your own lodge house to relax and unwind without worrying about checking the location and booking for your accommodation. If you are stressed with the hustle and bustle of work and life, then you can immediately head off to your holiday lodge and savour the comfort and bliss it brings.
This is why investing in a holiday lodge is an excellent route to take. However, there are a few factors to take into consideration. That said, here are four valuable tips to follow if you plan to buy a holiday lodge.
Know it isn’t permanent
It’s worth knowing that a holiday lodge will not be your permanent home. As the name suggests, this is a place you will visit during a holiday. Despite investing in it and no matter how comfortable you may be, your holiday lodge is only your secondary home. That’s what is stipulated in your Licence Agreement. You will find in this agreement that you need to provide another permanent address as your main residence, other than this lodge.
Check the terms and conditions
When investing in a holiday lodge, you will be provided with a Purchase Agreement, Licence Agreement, and a copy of the Park Rules. Make sure to check the following:
- Purchase agreement: This indicates the key terms of your purchase, such as model, price, pitch location, and delivery date. Make sure to read this and see the specific conditions for each.
- License Agreement: This clearly stipulates the terms on which you may use the holiday home. It indicates the start date and end date if you plan to terminate the contract, sell, or gift your holiday home.
- Park Rules: This forms a part of your Licence Agreement. It specifically covers various aspects, such as the minimum age limit for occupants, whether or not pets are allowed on the property, parking and vehicle allowances, and basic expectations of your behaviour.
Go through the insurance policy
It’s best to consider having insurance for your holiday lodge. First, look for insurance carriers that provide insurance coverage for a holiday lodge. Second, check their policies and what specific coverages they include. Third, shop around, get multiple quotes from various providers, and compare rates. Finally, decide on one particular provider that works best to keep your holiday lodge insured.
Understand your rights
A holiday lodge is a personal asset, much like owning a car, an appliance, or a property. In your ownership, you have to know your basic rights as a consumer who is investing in such an asset. That said, know that you are covered by the Consumer Rights Act 2015. Whenever you stumble upon any defects, you have the option to either reject the unit or have it repaired.
Final words
Taking ownership of a holiday lodge can be such a great investment. However, before you take the plunge, make sure to follow the tips outlined above before you seal the deal so that you can enjoy the best of what your holiday lodge has to offer.
If you are planning to buy a holiday lodge in the Lake District, get in touch with The Pastures today! They will be able to guide you in your purchasing journey and offer valuable information to help you make an informed decision, from lodge prices to new and preowned lodges for your consideration.