Hi there,
We had an idea ( just an idea! We haven’t researched it thoroughly yet)
to build 4 luxury ( brick) detached 2 room open plan holiday cottages. Each with all mod cons, large standalone bath with views of the countryside, jacuzzi, fireplace and 0,5 acre fully fenced garden so it’s dog friendly.
The project would cost probably around £800k, we have the land and £200k- the remaining money would have to be borrowed.
I would be a host/ cleaner and maintenance person. My partner is a lawyer and he would do accounts and paperwork.
What other costs apart from mortgage fees, energy bills and tax we would need to take into consideration?
Would we need to pay business rates ( if each house would have a market value at £250k and we would charge £150 a night) - sorry I’m not from UK, so not sure how it works yet.
Would that be a good lifestyle choice for a young family? I was thinking to quit my job and do it while raising kids - as the potential airbnbs would be on our land.
thank you for all the answers!
