August 2010 Newsletter
Firstly apologies for the delay - life took over for a few months! Let me update you...
Everything seemed to be progressing so smoothly... our offer finally got accepted on our dream guest house in the Lakes. We went out to celebrate and were overjoyed that things were coming together so nicely... both our properties had sold, the wedding and honeymoon were organised and now we'd be able to return in August and move straight into our new home and business.
We even had a “Leaving London” party, invited all our friends, drank champagne and showed them photos of the new property. Everything was just fantastic!
And then it all went pear shaped in April... when we had the building survey done. Unfortunately there were just too many major things that needed work. We struggled to accept that our dream was slipping away from us. We clutched at straws, trying to talk ourselves into it. But finally we realised we wanted to run our own Guest House and not take on a large building project.
We were both gutted and there were some tears. But after we'd talked through it even more, we pulled ourselves together and started looking again. We were not all the way back to square one... we had the experience of writing the business plan and financial forecasts to secure the loan, we knew what we were looking for and we had the cash ready for when we found the right place.
We moved out of our London flat in May and were staying near Windsor, house sitting for a friend. By our own admission, we gave ourselves a month off B&B hunting. After the previous purchase fell through, and what with the impending wedding, we thought we'd take a break.
Well, sort of! We were keen to get some experience working in a real B&B and that's where Luke and Ruth Lucas from Cowleigh Park Farm in Malvern came to the rescue. What a wonderful couple, family and business.
Their historic home is beautiful and they are the perfect hosts. It was so very kind of them to offer us some work experience and we will be forever grateful and also reminded of the kindness of strangers.
They cooked us a lovely dinner on the Friday night and we chatted about all sorts of B&B, business and home things. They really gave us a good insight into B&B life, with funny stories and helpful hints that really got us thinking.
The next morning we shadowed Ruth as she prepared breakfast for the guests. It was great to see how she organised herself, her kitchen and her time and we learnt a lot. We'll definitely be borrowing a few of her ideas!
After breakfast we helped with the rooms - two cleaned completely, one turned over and then the two self catering cottages that they also own and manage. We stripped the beds, put on new sheets, cleaned the bathrooms, tea trays, hoovered etc. It was enjoyable work and I could picture myself doing all this in our own B&B one day.
Saturday afternoon we went into Malvern itself and climbed the Worcester Beacon. It was a lovely little climb and we had wonderful weather for it. We stayed in another B&B on Saturday night and then went back to Cowleigh Park Farm early on Sunday morning for another round of breakfasts. This time there were seven guests, which seemed just about the limit for one person to handle. Again Ruth was superbly organised with her local organic sausages, huge flat mushrooms and fresh fruit salad.
After the guests had left we said our thank yous and goodbyes. It was a great experience and really gave us a feel for what life would be like running a B&B. Thank you Luke and Ruth.
Chris and I got married at the beautiful Stanhill Court Hotel in Surrey on a hot, sunny summers day in July. It was the most perfect day of our lives. We then flew off to Las Vegas, Hawaii and San Francisco to enjoy our three week honeymoon. Remarkably we managed to win a bit of money in the casinos, which enabled us to take a fantastic helicopter ride over the Grand Canyon and Hoover Dam.
And now... we're back to our hunt for a B&B. And we've got some great news! We've found somewhere. But before I get to that, let's back track and catch up. We returned from our honeymoon tanned, refreshed and ready for the imminent upheavals. We packed our bags, filled the car, waved goodbye to friends and family and drove from London to the Lake District.
We have a 6 month rental on a small property in Bowness, which is where we're living whilst we look for our future home/business. Chris continues to work, spending some time in the Manchester office, and other days working from home. This arrangement seems to work.
I also got myself a small part time job, housekeeping at some 5 star holiday cottages just outside of Ambleside. This has been great hands on experience, getting to know some new friends and contacts, and the best and quickest ways to do things. Finally I've learnt how to properly fold a fitted sheet!!
Whilst settling in we had lengthy discussions about our future. The previous property (which had fallen through) we had offered on was nearer the top-end of our price budget. We reflected on this and came to the conclusion that we should start smaller.
Why? Well, many reasons. It would be a lower financial risk. If the economy went barmy and interest rates shot up, we wouldn't be so exposed or under so much pressure. Plus the extra financial benefits such as a drastically reduced stamp duty, arrangement fees and interest. A smaller place will also be a good test for our change in lifestyle. If we love running a B&B, then we can upgrade in a couple of years to a larger place, armed with the experience we will have gained. If we find we can't make it work for us, then we can simply stop doing it and try something else.
And so, we found a gorgeous 5 bedroom property in Bowness which we're currently negotiating an offer on. If it works out, then we'll take 3 rooms for ourself, and let out 2 en-suite rooms for the B&B.
[ I'd be interested in hearing from anyone who currently runs a two bedroom B&B for some advice. Thanks in advance. ]
Thanks for reading and watch this space! :-) Sarah and Chris Wilson xx
Everything seemed to be progressing so smoothly... our offer finally got accepted on our dream guest house in the Lakes. We went out to celebrate and were overjoyed that things were coming together so nicely... both our properties had sold, the wedding and honeymoon were organised and now we'd be able to return in August and move straight into our new home and business.
We even had a “Leaving London” party, invited all our friends, drank champagne and showed them photos of the new property. Everything was just fantastic!
And then it all went pear shaped in April... when we had the building survey done. Unfortunately there were just too many major things that needed work. We struggled to accept that our dream was slipping away from us. We clutched at straws, trying to talk ourselves into it. But finally we realised we wanted to run our own Guest House and not take on a large building project.
We were both gutted and there were some tears. But after we'd talked through it even more, we pulled ourselves together and started looking again. We were not all the way back to square one... we had the experience of writing the business plan and financial forecasts to secure the loan, we knew what we were looking for and we had the cash ready for when we found the right place.
We moved out of our London flat in May and were staying near Windsor, house sitting for a friend. By our own admission, we gave ourselves a month off B&B hunting. After the previous purchase fell through, and what with the impending wedding, we thought we'd take a break.
Well, sort of! We were keen to get some experience working in a real B&B and that's where Luke and Ruth Lucas from Cowleigh Park Farm in Malvern came to the rescue. What a wonderful couple, family and business.
Their historic home is beautiful and they are the perfect hosts. It was so very kind of them to offer us some work experience and we will be forever grateful and also reminded of the kindness of strangers.
They cooked us a lovely dinner on the Friday night and we chatted about all sorts of B&B, business and home things. They really gave us a good insight into B&B life, with funny stories and helpful hints that really got us thinking.
The next morning we shadowed Ruth as she prepared breakfast for the guests. It was great to see how she organised herself, her kitchen and her time and we learnt a lot. We'll definitely be borrowing a few of her ideas!
After breakfast we helped with the rooms - two cleaned completely, one turned over and then the two self catering cottages that they also own and manage. We stripped the beds, put on new sheets, cleaned the bathrooms, tea trays, hoovered etc. It was enjoyable work and I could picture myself doing all this in our own B&B one day.
Saturday afternoon we went into Malvern itself and climbed the Worcester Beacon. It was a lovely little climb and we had wonderful weather for it. We stayed in another B&B on Saturday night and then went back to Cowleigh Park Farm early on Sunday morning for another round of breakfasts. This time there were seven guests, which seemed just about the limit for one person to handle. Again Ruth was superbly organised with her local organic sausages, huge flat mushrooms and fresh fruit salad.
After the guests had left we said our thank yous and goodbyes. It was a great experience and really gave us a feel for what life would be like running a B&B. Thank you Luke and Ruth.
Chris and I got married at the beautiful Stanhill Court Hotel in Surrey on a hot, sunny summers day in July. It was the most perfect day of our lives. We then flew off to Las Vegas, Hawaii and San Francisco to enjoy our three week honeymoon. Remarkably we managed to win a bit of money in the casinos, which enabled us to take a fantastic helicopter ride over the Grand Canyon and Hoover Dam.
And now... we're back to our hunt for a B&B. And we've got some great news! We've found somewhere. But before I get to that, let's back track and catch up. We returned from our honeymoon tanned, refreshed and ready for the imminent upheavals. We packed our bags, filled the car, waved goodbye to friends and family and drove from London to the Lake District.
We have a 6 month rental on a small property in Bowness, which is where we're living whilst we look for our future home/business. Chris continues to work, spending some time in the Manchester office, and other days working from home. This arrangement seems to work.
I also got myself a small part time job, housekeeping at some 5 star holiday cottages just outside of Ambleside. This has been great hands on experience, getting to know some new friends and contacts, and the best and quickest ways to do things. Finally I've learnt how to properly fold a fitted sheet!!
Whilst settling in we had lengthy discussions about our future. The previous property (which had fallen through) we had offered on was nearer the top-end of our price budget. We reflected on this and came to the conclusion that we should start smaller.
Why? Well, many reasons. It would be a lower financial risk. If the economy went barmy and interest rates shot up, we wouldn't be so exposed or under so much pressure. Plus the extra financial benefits such as a drastically reduced stamp duty, arrangement fees and interest. A smaller place will also be a good test for our change in lifestyle. If we love running a B&B, then we can upgrade in a couple of years to a larger place, armed with the experience we will have gained. If we find we can't make it work for us, then we can simply stop doing it and try something else.
And so, we found a gorgeous 5 bedroom property in Bowness which we're currently negotiating an offer on. If it works out, then we'll take 3 rooms for ourself, and let out 2 en-suite rooms for the B&B.
[ I'd be interested in hearing from anyone who currently runs a two bedroom B&B for some advice. Thanks in advance. ]
Thanks for reading and watch this space! :-) Sarah and Chris Wilson xx
