I’ve been trying to sell my £195,000 holiday home for 18 months – I’m losing money

Peter Stevens, 78, has been trying to sell his Grade II-listed, two-bedroom holiday apartment for 18 months but has had little interest. Despite reducing the price by £30,000, from its original price of £225,000, it remains unsold and hasn’t had a viewing for a year. “Because the planning consent is for ‘holiday use’, it’s proving impossible to sell,” says Peter. “No one seems interested after over a year. To buy it, you have to have another home.” Peter is retired, having previously worked in communications for the police, and lives in Derbyshire, hundreds of miles from his holiday home in Higher Clovelly, North Devon. He accepted an offer of £205,000 for the barn in November 2025, but the buyer pulled out for personal reasons and, even though he reduced the price three months ago, there’s been no interest. “The estate agent says, ‘because it’s a holiday let, it is a difficult market.’ There is no getting away from it, it’s on its knees,” Peter says. And he’s not the only one, the couple opposite him are in a similar predicament. “He is ill and they have been trying to sell their apartment for two years. Theirs is a big, three-bedroom up for £245,000 but they’ve had no success,” says Peter. Peter Stevens said he is not wealthy and is losing money by being unable to sell his holiday home He bought the apartment, which is part of a converted farm complex, with his late wife for £165,000 in cash in 2012, and was aware of the holiday let restriction. “Things have changed dramatically in the holiday and property markets since I bought,” he says. “I accept that I am fortunate to have been able to do this, but it was the result of an inheritance from mine and my wife’s parents. I’m not a wealthy man and I know that lots of people don’t have a single house, let alone a holiday home.” When Peter’s children were younger, the family spent many happy years there. “My wife died unexpectedly eight years ago, and it gave me a different outlook on life. I still come down with friends and our grown-up children,” he says. Initially, the apartment was only used by Peter but, three years ago, he put it on with a holiday letting agency. “I make £10,000 to £12,000 gross a year and, for the net, after expenses, I’m lucky if I make a profit. Last year, the place had a £1,500 loss,” says Peter. Peter has reduced the price of his holiday let by £30,000 but it still hasn’t sold “Any profit you do make is taxed anyway and soon at 4 per cent higher [following this year’s Budget announcement].” The apartment is usually let out for 15 to 16 weeks of the year, but it comes with several expenses. These include £1,800 for LPG heating, £500 for electricity, £400 for water, £850 for waste disposal, sewage charges and the upkeep of the 2.5 acres of communal garden, and £400 for a gardener for the private garden. The property is share of freehold but there is a £10 a year ground rent. On top of this, Peter also pays a fee to the letting agency. “By the time I’ve paid for the housekeeping, linen, gas etc., I don’t make a profit,” he says. The apartment isn’t subject to double council tax as it’s let out but Peter is liable for business rates which should be £1,500 a year. “At the moment, as I’m a small business, I get a 100 per cent discount on those but I don’t know how long that will last,” he adds. With no interest from prospective second homeowners, Peter is looking into getting a “change of use” on the property so he can sell it to local families to live in, but that is proving complicated. “I have been in touch with the local planning authority, Torridge District Council, who say I have to show there is no demand for holiday properties in the area.” He is hopeful that the fact there’s been no viewings on the barn for a year will be evidence enough but it’s not a done deal. “It is possible that I might get turned down, I’ve not had experience of Torridge Council before, so I don’t know,” he says. “At a time when many families are desperate for a home, surely a simple change in the planning rules would allow me to sell it to a someone who wants to live there full time. Some neighbours don’t have the holiday rule and live there permanently.” In total, there are 12 holiday lets and three permanent homes in the complex, the latter includes Peter’s next door neighbour whose home is attached to his. If a “change of use” was granted, Peter expects the property to be worth around the same amount, £200,000. Peter adds that for much of the year, the majority of the homes on the farm complex are unoccupied. “I’m here now [in November] and mine is the only place with someone in it. For 6 to 8 months of the year, most of these properties are empty,” he says. “It would be interesting to see what the Housing Minister would feel about hundreds of similar homes lying empty for many months every year while local families can’t find somewhere affordable to live.” “Not everyone wants to live in a new build home on a new housing estate, and it would suit someone like a musician who wanted a different kind of life,” he says. “It feels unfair that you can’t sell to someone who wants to live in this area and it’s at the lower end of the price band for this part of the world.” In terms of his own situation, Peter will continue to try and sell while looking at getting planning permission to change the property into residential accommodation. “I’m now in my 70s and my kids have grown up so it’s not the same house it used to be,” he says. “I want to move on.”