A Holiday let has to be in a very specific tourist location with parking very close by. If you are a hundred yards outside this zone, on the wrong street, etc, it will not yield/command anywhere near as much and repeat bookings will be much diminished. You'll probably struggle to get bookings outside peak times. Parking outside the door for loading unloading is essential, even if longterm doorstep parking is unavailable.
Think: Location location location!
You really need to do your homework – speak to several local estate agents.
Having just advised someone on purchasing a holiday let, what i found once again, was that all the most ideally located properties fetch a much higher price.
You have to work out the length of the season and determine realistic rates and occupancy. Often the higher asking price is justified as these properties will be much more easily filled. A bigger cheaper property in the wrong street is less likely to yield as much.
As an alternative, a caravan on some grizzly caravan site can yield as much as a property costing 10 times more in a prime location. People like caravans and these are usually situated in tourism hotspots, though not always. This might be a safer option (with boxelder's chapel story and link as a prime example why you shouldn't make a big committment without doing thorough research).
