Investing In A Caravan: The Do’s and Don'ts
A static caravan is a home away from home.
However you choose to make the most of your property, it will provide you with a place to relax for decades to come.
At The Caravan Insurer, we know static caravans are a worthwhile investment for those who love the lifestyle and want to enjoy it more frequently.
So if you’re in the market for a static caravan and need some advice, we’re here to help.
Prepare to learn the do’s and don'ts of caravan investment as we walk you through each of our tips.
Once you’ve settled on a property, you’ll likely need to protect your purchase with static caravan insurance. Luckily, we can help with that too. Visit The Caravan Insurer to compare caravan insurance and get an online or over-the-phone quote.
DO: Check what fees you have to pay
When it comes to static caravan investment, you’ll typically have to make a one-off payment to own your holiday home. The average price of a static caravan can vary significantly depending on its size and the site.
You might find yourself looking for models that cost anywhere between £15,000 to £100,000! But this can change on a brand-to-brand basis, home modifications, and the quality of materials used to make the caravan.
With all these costs, you must factor in site fees. Caravan sites require yearly fees from holiday homeowners that can be relatively cheap or expensive depending on the site's facilities.
Most times, you will also need to pay for home insurance, water, gas and electricity bills to keep your property running smoothly. Some services, such as wifi or insurance, may be free or arranged by the site owner.
But these are fees you need to factor into your overall costs before you commit!
DON’T: Think you can keep it forever!
Despite what many may think, you cannot keep your static caravan for good.
Typical contracts include a formal agreement between yourself and the site owner stating the period of property ownership.
Depending on the site, this could be between 10, 15 or 20 years. The site owners may then need to update the property structurally, meaning your contract ends.
Some site owners may allow you to move your static caravan to a site of your choosing for an extra fee. So long as your property isn’t falling apart!
DO: Check if you can sublet
One of the main ways you can get a return on your investment is by sub-letting your static caravan to other holiday goers.
On-site caravanning is a popular holiday choice during British summers, meaning you may have potential customers lining up to spend a week in your holiday home.
Some caravan sites offer letting services, where they let your caravan for you, taking care of bookings and cleaning before guests arrive. In return, they take a percentage of the fee you charge.
Or, you can rent out your caravan privately and control all aspects of letting, including bookings, cleaning and consulting with customers.
If subletting is one of the main reasons you’re interested in investing, check if your preferred site allows these services on their property.
DON’T: Assume you can visit all year round
Before you sign off on your static caravan, check what time of year the site is open.
If you like the prospect of visiting your holiday home during winter, you’ll have to find a high-end site that permits this. Some static caravan sites are open from December to February, but many restrict their opening times to the warmer months of March to October.
Holidaying is more likely during this period, as schoolchildren have time off from their studies and weather conditions are much more enjoyable.
Plus, static caravan sites may shut down to complete on-site maintenance so that customers are not disturbed by construction noise.
One benefit of sites that close during the year is that you do not have to pay council tax on your static caravan, saving you extra money!
DO: Make it your home away from home
Investing in a static caravan is a big deal. Choosing a holiday home that you can see yourself and your family enjoying for years to come is vital.
Once you make a final decision, it’s up to you to make it feel as cosy, snug and comfortable as possible.
Your static caravan will come equipped with a range of home comforts to start you off: deluxe beds, fridge freezers and coffee machines. You name it: it will likely come included!
After this, you can choose to customise your holiday home even further. Upgrade your TV, install a hot tub or even invest in some high-quality decking to extend your garden space.
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