The owner’s of Mrs Puddleducks have shared their experience of searching for a property to buy as a holiday let. They purchased the cottage from Cumbrian Properties and Lakes Cottage Holidays helped advise what is needed to let and an idea of potential income.
If you are looking to purchase a holiday cottage in the Lake District, Cumbrian Properties specialise in the sale of holiday cottages and are always on hand to advise where ever it is needed.
We are the owners of two lodges in White Cross Bay which we have found to be a good rental investment but unfortunately a depreciating asset. With this in mind we set out to buy a “bricks and mortar” holiday cottage investment in the Windermere area. We were impressed with Cumbrian Properties, the sister company of Lakes Cottage Holidays, as they have great experience in the holiday cottage market and pointed us towards two properties very close to their office.
We decided on purchasing Oakmere Cottage, a mid-terrace, three storey property that was looking very tired and in need of refurbishment but we could see the potential as a letting investment and the scope to quickly increase the property value. We purchased the property in Auction and found the whole process very smooth with completion 28 days after the Auction.
We then set about the refurbishment of the property which turned out to be more stressful than we first imagined but, now seeing the finished product, has been more than worthwhile. We took advice from David regarding the layout and configuration of the rooms but had our set ideas on what we envisaged the property to be to attract the highest number of people by using the limited space available. We are now delighted with the finished product, by adding en-suite shower rooms, although they are quite small, to the two double bedrooms and replacing the bathroom with a further shower room adjacent to the children’s bunk bed room. On the ground floor we have changed the separate dining room to form an additional sitting room giving access to the patio walled garden where we have installed a hot tub, which we have found to be a great added attraction and is already proving to be a selling feature compared with other cottages in the close vicinity.
We renamed the property Mrs Puddleducks and have carried this theme throughout the property to give the cottage some character and we hope this will further help our cottage in competition with other nearby cottages.
David has inspected the property, before our first arrival, and was very pleasantly surprised with the finished product and we are equally surprised at the immediate bookings once the photographs had been added to our website.
To summarise, we strongly recommend engaging Cumbrian Properties in the buying process and getting advice from their sister company Lakes Cottage Holidays.
Yes we found the renovation work stressful, particularly living outside of the area, but seeing the finished product and the immediate potential profit of over 12% we are looking forward to our next renovation project!!!!
To view more details or to make a booking at Mrs Puddleducks please CLICK HERE