Why buy a new static caravan versus used?
Deciding whether to buy new or used is one of the biggest conundrums on the journey to ownership. You’ll open up a level of leisure regardless of which avenue you go down, but we’re on hand to give you the considerations on both routes in this advisory article.
Ownership affords you a reliable and stable holiday space in a park of your choice, surrounded by like-minded travellers, and with us managing the park, facilitating everything you want for a perfect holiday as often as you like. Your static caravan allows you the option to have as many low-cost holidays as you fancy, while also providing the added benefit of being able to monetise the caravan by hiring it out to other holidaymakers when you’re not using it.
Considering the costs
The main factor to take into consideration before buying is your budget and how the cost fits in with your other expenses. Considerations must also be made for the size of the caravan, internal floor space, manufacturer, make and model, any modifications required or already done, and the general price differentials across various platforms.
In addition to these, any repairs or maintenance requirements must be considered, as any manufacturer defects or pre-existing issues will obviously impact decision making.
The warranty period
Another factor that should be considered is the warranty period, as this will determine some of the costs you may or may not incur as an owner in the short and long term. The impact of all these factors will determine, for a prospective owner, what the answer will be to the most important question: whether to buy a new or used caravan.
If you’re working with limited finances, there are more options if you go down the used caravan route. If you’re ready to splash out and purchase a model that tailors perfectly to your needs, it may be worth spending a few extra quid on a brand-new model.
New vs used – the pros and cons
Similar to making the decision whether to hire or buy a static caravan, the choice between buying new or used, will depend on the advantages and disadvantages of each. Your budget is the biggest factor here too. This might determine from the beginning of the process whether you can only look at used caravans or whether you are able to only consider a new one.
It’s imperative to think about the reasons why you want a static caravan in the first place, as well as how often you plan on using it. Considering some of the non-financial factors, such as the distance from the park to your home, and why you want a static caravan, will help put off any impulse buys based on price or size alone.
A new static caravan
The reasons for buying a new versus used caravan are similar to buying a new or used car. When you choose to buy new, you have more options in caravan size and park location than you would if you are only hiring or if you’re buying used.
The advantages to buying a new static caravan include:
A new caravan is ready for immediate use. You will not have to factor in repairs and maintenance costs and can start enjoying your holiday home the moment it is on site.
You have a wider range of options to fit your requirements as an owner. You can customise your caravan to suit your own needs and specifications via our magnificent sales team.
A new caravan, just like with a new car or new house, will be built using more modern materials and construction methods, such as double glazing or built-in wardrobes.
The warranty on a new caravan will likely be better than on a used one. Indeed, at Haven we give a five-year warranty on new caravans as opposed to a two-year warranty on pre-owned models.
New caravans will bring in a higher rental income as they are more attractive to holidaymakers in general.
You will have a wider range of caravan parks to choose from to site your static caravan on as, for instance, some parks only allow static caravans up to 10 years old. However, at Haven there is no limit to how long you can keep your caravan.
Some of the disadvantages include:
The most obvious: your budget. You simply might not be able to buy new. Some static caravan dealers and holiday parks offer good finance so you can spread the cost out over a few years. And you can also offset these payments by hiring your caravan out, but this may limit your ability to use the caravan yourself at your own convenience.
Static caravans have a relatively fast rate of depreciation, with their monetary worth decreasing by thousands of pounds as soon as they are sold. So, it's worth bearing in mind that this is a lifestyle investment, not a financial one.
In the event, you are looking at a new static caravan as a cheap place to live permanently, be aware that most holiday parks, including Haven, don’t allow caravan owners to live in their statics year-round. You will need a full residential licence for this.
A used static caravan
Even though it's a major part of the decision-making process, opting for a used static caravan does not necessarily always have to only be financially motivated.
There are several other advantages to going for a used caravan, including:
A lower initial outlay means you can try static caravan ownership for a relative bargain.
Naturally the rate of depreciation is slower with a used caravan than a new one.
A used caravan gives more room for negotiation.
The previous owner may have added equipment or fittings that go above the caravan's original specs, some of which might even be considered upgrades on the original.
A used caravan provides a higher resale value relative to your initial outlay.
The disadvantages of a used caravan are
You're more likely to have to compromise on something you might not fancy, as opposed to a new caravan where you can get exactly what you want.
As is the case with purchasing anything preowned, you'll need to put in greater due diligence. Paying for a surveyor to give you a report, or enlisting the help of a trusted friend, might be necessary. When buying with Haven you have the safety net of knowing that we offer this service when buying used.
You might incur some initial repair and maintenance costs.
The age of your caravan could limit your park options as some parks don't allow caravans beyond a certain age. Though this is not a problem at Haven!
If you have questions about buying a holiday home, please don't hesitate to contact us. We'd love to hear from you.