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. Finance options act 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.
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 £3,754 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.
If you have questions about buying a holiday home, please don't hesitate to contact us. We'd love to hear from you.