How Much a Static Caravan Costs You?
Have you thought about acquiring a static caravan to help you move around with family and friends? Are you tired of keeping up with rentals because you can’t seem to find the perfect one? Well, the best solution is to buy your own. What’s more, you can always hire it out at times, especially when you are not going anywhere. But what about static caravan costs? Is it worth it? Keep reading to decide if you want to do it based on the affordability and cost implications.
New or Used – Does it Matter?
When discussing the price of static caravans, a lot of factors come to play. For instance, it is essential to know whether the caravan you are interested in is new from the manufacturers or has been used before. Avoid buying static caravan pitfalls by not overlooking things. For instance, a new caravan will be pricier.
Also, pre-loved caravans are not necessarily poor quality, only that they had a previous owner. It is easy to transform them into revolutionary caravans for your family with a bit of care and maintenance. They will also cost way cheaper. The most significant advantage of buying a new caravan is that you get to be the new owner who enjoys all the latest caravan tech installed, new design, and new features. In addition, you get the satisfaction that no one has been here before you, which can be a significant deal for most people.
But is it Worth It?
Depending on your budget, you can expect a new caravan to cost anything from £15,000 to £100,000. While the pre-owned version will be almost half the price as most go for £5,000 to £50,000. Whether you choose to get a new or previously used caravan, the details in the caravan will have a significant implication on the cost.
When getting a new caravan, you also need to consider that they will depreciate as quickly as new cars do. This means that as you rush to check out the static caravan sales and even consider getting one for yourself, you should be prepared for this. It will not be a big deal if you have no intention of selling the caravan later on.
However, if you treat the new buy as an investment that you will later resale, you must consider the depreciation factor. On the other hand, used caravans will not suffer from the sharp decline and might be a better option for investment purposes. Note that the general depreciation percentage per year for new caravans stands at 15%. This will help you make the right decision for you as a new caravan owner.
Are Used Caravans a Better Option?
There is no straight answer to this. As far as prices are concerned, used caravans are more affordable, especially when comparing the same type of caravans. When chosen right, used caravans can be a great deal for the new buyer. Other than the fact that you do not get the privileges of being the first owner, everything else should check out if you do your due diligence. What’s more, you can always ask the previous owner for a few details about the caravan to ensure that you are getting the real deal. Once you are convinced about it, scrutinize the caravan for signs of rust, accumulated debris, and dampness. When everything checks out, you can be sure that you are getting value for your money. You are also likely to get a better return for investment with a used caravan when you rent it out.
So, what Matters when considering static caravan costs?
Like it is with everything else, there are factors that you should never compromise on when purchasing a caravan. It does not matter if it’s new or used. Have a list of non-negotiables when scouting for the caravan of your dreams. Even so, a few factors will help guide your purchase decision. These include:
Static Caravan Running Costs
A caravan is one of those assets you acquire and keep funding to have it serve you. Once you purchase the caravan, there are a few service charges that you should look forward to. It is essential to know what to expect as a new caravan owner. Always read and confirm the lease agreements you have with park owners as well. When ensuring such static caravan costs, pay special attention to the following fees even more:
- Static Caravan Site fees. This will apply every time you are in a park, as you need to pay for the grounds and space.
- Council charges. You will be required to contribute a small fee towards the local council charges for using the amenities at the park, such as water, garbage management, and other stipulated services.
- Power cost. This is a direct cost associated with owning the caravan. You need to fuel or put gas in the caravan and electricity to power all the appliances inside the caravan.
All these aspects are cost-intensive and should be part of what you consider when buying a caravan. Of course, the amounts will increase or decrease depending on numerous factors such as the appliances used, the technology, and the frequency of use. Even so, these running costs should be factored in among the overall cost of getting a caravan.
Expect to pay an average of between £3,000 to £5,000 running costs. However, this figure can tilt downwards to £1,000 or upwards to £12,000. It all depends on the kind of luxury you want to attain in the caravan.
Insurance Costs
Besides the costs of running your caravan, insurance is also something you need to consider. Take insurance for your caravan since it is a significant investment, whether used or new. Fortunately, the market is flooded with different plans and packages to choose from. Consider what works best for you before settling.
One of the determining factors when picking caravan insurance should be the intended use. For example, you will need a different insurance package for a family-use caravan and a caravan you intend to rent out occasionally. Talk to a specialist to know what would work best in your situation.
Final Thoughts
Buying a caravan is an excellent move if you genuinely believe in owning one. However, it should be a clear and intelligent decision that factors in all the crucial considerations. In the end, it does not matter if you buy a new or used caravan as long as it matches your needs.
