Buying a new caravan – the costs explained
Buying a new caravan is one of the biggest investments you could make on the leisurely side of life. There are so many factors at play, from style to model to cost, and even the latter can’t be simplified into one round figure.
When searching for a caravan to call your own, the upfront cost of the model is just one factor at play in your budgeting decision. There are two other key areas of cost to keep mindful of. The first involves the annual site fees, essentially the bill for contributing to the upkeep of the park of your choice. The second is something a little closer to home, the running costs of the model itself. This article will explain the costs of running your caravan and hopefully answer at least one of the many questions prospective new owners are bound to have. We’ll even give you a few pointers to offset some of more stinging bills that come with static caravan ownership.
Cost of your holiday home
When browsing the Haven site and others for a range of holiday homes, the prices you’ll see include the cost of buying the caravan itself (which is yours to use for as long as you want whilst the parks are open), as well as the essential add ons that come with it. These are namely the basics like siting and connection as well as safety and security of the van and wider park.
The buying process, like buying a home with a mortgage, means that you don’t have to fork out for the entire figure you see all at once. Our finance option acts like a caravan mortgage, making the models more affordable and buying a new caravan more accessible than ever. 10% is a reasonable figure to be paid upfront, with the rest payable via instalments so you feel less of a pinch but the same level of enjoyment in your new holiday home. Finance is subject to status and availability.
Your annual site fees
Site fees are a key cost of running your static caravan. They’re best described as the amount you pay to keep your holiday home sited on its pitch at the park for a year. These fees vary between parks and the amount to which they add up to also depends on the type of holiday home you have, the size and specific location it sits in the park you’re an owner at.
Holiday parks in locations with more demand tend to have higher site fees, so the figures shown are very much representative of the package around your holiday home. The fee covers everything from maintenance and security to grass cutting and landscaping. Haven site fees start from £4,047 per annum.
Offsetting your site fees
Like a house, your holiday home can become as asset that helps add to your income through letting. At Haven there are two ways in which we help our owners offset their site fees and handle the hassle so you don’t have to.
Fixed letting service – an option that gives you complete peace of mind and gives you a nice round figure for what you’ll earn from offering your holiday home to our guests
Flexi letting service – a higher risk option but with potentially higher returns. This avenue allows you to let your holiday home on any given date.
Either way, our letting experts do the hard work, so you don’t have to. There are fantastic extras in our service too. Cleaning is inclusive and we’ll take care of anything if there’s an issue with our guests. Rest assured, your holiday home will be left looking spick and span and the costs of running it will be revolutionarily reduced.
Your annual running costs
Bills. We’ve all had to pay them before through our regular homes and paying for utilities in a holiday home is no different. The costs of running your second place includes gas and electricity, water, holiday home insurance and non-domestic business rates.
These fluctuate from year to year and are something to factor into your holiday home budget. We’ve produced a handy table of timelines and the average annual costs of maintaining a new caravan. See this in more detail here and start planning for life as a second home owner with Haven.
Make no site fee payments when using Let2own until 2030...
Let2own is a contractual lettings product that offers eligible owners a guaranteed letting income at a preferential rate (calculated each year) in exchange for a stipulated number of letting breaks. It also allows eligible owners to pay their site fees and receive their letting income in 12 equal monthly instalments; the monthly site fee amount charged by Haven will be after deduction of the letting income.
Let2own no site fees payment until 2030 is available at Blue Dolphin, Berwick, Caister-on-Sea, Cala Gran, Combe Haven, Craig Tara, Devon Cliffs, Golden Sands, Haggerston Castle, Hafan y Mor, Kiln Park, Littlesea, The Orchards, Presthaven, Perran Sands, Primrose Valley, Seashore, Wild Duck and Skegness. The letting income received will vary by make, model and location. The monthly site fee payment does not include running costs e.g. utilities, rates & insurance. “Make no site fee payments when using Let2own until 2030” is applicable to new customer purchases of new Atlas Chorus 3 Bed or equivalent or superior grade holiday home purchases made through Haven where customers have also signed up to Haven’s Let2own contract. It is not applicable to part-exchanges or private sales and cannot be used in conjunction with our free Site Fee promotion. It is available across 40% of eligible Parks and applies when letting a new Atlas Chorus 3 Bed holiday home for 15 weeks.
An example of how “Make no site fee payments when using Let2own until 2030” operates under Let2own is the purchase of an Atlas Chorus 3 Bed holiday home at Primrose Valley with a monthly site fee of £642.50 and monthly letting income of £759.25. The monthly difference equates to £116.75, which will be credited to the owner's account. Both letting income and site fees are subject to yearly pricing reviews and the monthly site fee costs and letting income shown in the example are based on 2023 figures.
Modelled assumptions on expected annual site fee and letting income charges over the 7-year lettable life of the Atlas Chorus 3 Bed indicate that under Let2own it is anticipated that these customers will continue to receive a monthly credit during this period, however, this is not guaranteed. The modelled assumptions are based on the historical performance of Haven over the past 5 years of trading.
Access to holiday home is subject to park opening times. Images are shown for representational purposes. Park cannot be used as a permanent residence. Haven Leisure Ltd (t/a Haven) is registered in England (No. 01968698) and is a FCA appointed representative of Bourne Leisure Limited. Bourne Leisure Ltd is registered in England (No. 04011660) and is authorised and regulated by the FCA (Financial Services Register No. 312847) as a credit broker and insurance distributor. Registered office: One Park Lane, Hemel Hempstead, Hertfordshire, HP2 4YL.