Why invest in a luxury lodge?
As you approach retirement, it is often a time to think about splashing out a little. After a lifetime of working and bringing up the children, you might want to indulge yourself a little. Your pension pot seems to be in good enough shape, and you have the cash to spend – so what might it go on?
You are probably mature enough to know how easy it is just to fritter away any extra cash – so what about investing in something more substantial. That second home you have always dreamed about, for example?
Your own private retreat away from normal routines, somewhere to escape to and relax, holidays at the drop of a hat, or even the chance to earn a little extra cash by renting it out to others when you are not using it.
The problem with investing in the bricks and mortar of a conventional second home, however, is too often the sheer cost of it. Anything approaching your idea of the dream home is way too expensive, and you end up settling for an almost-rundown cottage in the back of beyond, in need of constant repairs and maintenance.
That might be why there has been a recent upsurge in purchases of luxury lodges as second homes – they seem to have become the go-to solution for high-rolling “lifestyle investors” as the Daily Mail newspaper called them in a story published on the 11th of May 2018.
Many are built to especially high specifications and are in choice locations – overlooking the sea or in sheltered woodland. They offer onsite facilities luxuries such as fine-dining restaurants, beauty salons, health spas, indoor and outside swimming pools and all the country club comforts that have long outgrown the dismal prospects of washing in an unheated shower block.
The standards of construction, the wealth of luxury onsite amenities and an apparently rising demand for such lodges is likely to make their eventual resale value an attractive longer-term investment.
On top of the initial purchase price, you also have ongoing expenses in the shape of site fees, security services, utilities (water, gas and electric), plus any necessary maintenance.
Lodges and resorts that offer the very height of luxury, of course, grab the headlines as they showcase sumptuous accommodation at top-class developments, to the full fanfare of an opening launch featuring the full red-carpet treatment, champagne and canapes.
Lodges to suit all pockets
At this very top end of lifestyle investment in some of the more glamorous lodges and resorts, you are likely to see little change from the amount you might otherwise have invested in a more traditional, well-kept cottage in the country to enjoy as a second home.
Like all good ideas, however, the development of luxury lodges has broadened to include those with more modest price-tags.
Here is just a selection of the companies offering lodges that combine a taste of the good life, in attractive surroundings, at prices which might not break the bank or leave too big a gaping hole in the pension pot you have been carefully building:
The Dream Lodge Group
- having established a position in this market for longer than many others, in the past 50 years, the Dream Lodge Group has developed lodge-based parks in 8 scenically attractive locations throughout the south of England – Berkshire, Cambridgeshire, Cornwall, Devon, East Sussex, Essex, Norfolk and Suffolk;
- the parks are secluded, yet close to local amenities and attractions, located in areas of outstanding natural beauty, along heritage coastlines, on land managed by the Forestry Commission, in National Parks or neighbouring nature reserves;
- the lodges themselves tend to be more traditional, wooden cabin-style homes, but are fitted and furnished to a high specification, each with its own outdoor space, including a hot-tub;
Platinum Leisure Parks
- Platinum Leisure Parks also offer the chance of investing in a more traditional style of well-appointed wooden cabin-style lodge in one of its two parks in Yorkshire or another in South Wales;
- in its sales pitch, Platinum focuses on the investment potential of one of their luxury lodges – emphasising a “guaranteed” minimum return on your investment of 8% per annum;
- Lodges UK markets wooden and lodge-style homes situated on one of 17 parks across the UK – not only in the ever-popular southwest of England but also in the Lake District and in Scotland;
- the company sells lodges from a number of established manufacturers and all claim to be built and furnished to a high specification, including domestic style central heating;
- emphasising the cosy, warm and affordable features of its lodge-style holiday homes, Pure Leisure maintains parks in Norfolk and the Cambridgeshire Fens, on the East Yorkshire coast, the southern Lake District, Northamptonshire and the Heart of England;
- the lodges have an open-plan layout, together with two or three bedrooms and a choice of ensuite facilities;
- each comes with central heating, double glazing, and extra insulation.
Whether your ambitions are as a high-rolling lifestyle investor or altogether something more modest, the purchase of a luxury lodge is within the grasp of many people. Of course, your idea of luxury and exclusive location needs to be tempered by the size of the investment you are able to afford, but owning a lodge as your second home may be well within reach.
The information contained in this article is correct at the time of writing.