Is it cost-effective to buy your own static caravan?
“Wouldn’t it be nice to have our own little holiday home” you say, turning to your partner “Somewhere we could go every summer, a nice get away with the kids”.
Your partner rolls their eyes, they probably think it's too expensive. Heck, it can’t be cheap owning a second home, right?
But the price of holiday homes, and especially holiday caravans, isn’t as prohibitive as many believe. A savvy static caravan owner could even end up making money by buying a static caravan.
So, is it cost-effective to buy your own static caravan? We think it is and we’ve listed the reasons below.
Think of all that flight money you’ll get back in your wallet
With no flights, transfers, or hotels to book a week away in your own static caravan will cost you considerably less than a week in the Algarve.
Not only is a UK based holiday home a quick hop, skip, and a jump away but you have the added benefit of being able to cook your own food.
You won’t be reliant on restaurant meals of varying quality when you can whip up all your family favourites at a moment's notice.
Maintenance isn’t as much as you think
Static caravans are a significant investment, there’s no denying that! Both the up-front cost and ongoing maintenance are something that should be carefully considered before purchasing.
That being said, if you weigh the costs of multiple family trips abroad each year and all the stress and planning they entail, we think purchasing your own static caravan is a better decision.
Owning your own static caravan is an investment opportunity too, you own a property that will go up in value. Brick and mortar properties fluctuate in value more than static homes and static caravans come with the opportunity to sub-let to earn extra revenue.
You can become a landlord
People purchase static caravans with all kinds of arrangements in place. Some people purchase as a family, others as groups of friends. There’s loads of different ways you can purchase a static caravan and even more ways you can monetise one.
Some caravan owners operate their static homes as holiday homes and let them throughout the year to cover the maintenance costs and bills. Most holiday parks allow owners to rent out their caravans. You can rent out the caravan via the park or use a company to act like an estate agent that will do the heavy lifting for you.
The financial incentive of renting out your caravan is huge but many owners prefer not to as they like the freedom of being able to visit their holiday home at any time. Also, if you don’t allow sublets you can keep all your personal belongings there and make it truly feel like a
home away from home.
The cost isn’t as eye-watering as you might think
The initial cost of a static caravan depends on a number of things. Condition, make, and model are just three things to look at before making any purchase. The cost of a static caravan can range anywhere from £10,000 to £100,000.
But that price tag guarantees you a lifetime of cheap holidays in a location you truly love. Think about how much an all inclusive family trip to Spain would cost you three times a year.
When you start looking at the price of a caravan in those terms you’ll see that the money you spend on one will save you a lot in the long run.
Ready to look at caravans?
If you think a caravan is the right choice for your next holiday don’t think about renting but instead take a look at the affordable homes we have available at lifestyle homes. You can check them out here or contact us for more details.
