Is letting a caravan holiday home good money

Anddos

There is a holiday park around the corner from here and i am seeing caravans for sale , is there any benifit to owning and letting them?, i understand you have to pay site fee's , electric and water etc , can anyone shed some light?

missminx

It depends on a whole list of different things. Firstly you have to make sure that the site allows you to rent out your caravan. Some do not allow it at all. Others do allow hire, but they arrange and take a percentage etc. You need some extra info first and then can help you further.
If they do allow rentals you need to check out some of the other owners that do it and see what sort of figures would be realistic. *Note that the site may not be completely honest with you as they will be looking to sell the van so may adjust the figures, also check carefull how much the site will take as a fee should you come to sell your caravan. Certain sites take the proverbial which wee found out to our cost

Anddos

Il try to find out more information , i am first gonna do my homework reading about other people's stories.

SailorSam

For years from when we were kids My Nan and Grandad had caravans in Nth Wales, that was always our holidays, my Mum took over from them, i presume they made enough to make it worth their while. But then the cheap holidays to Spain started to come in and people wanted the sun, and Sunny Rhyl couldn't compete.
The site fees were still going up, if people had been in the caravan they needed to be cleaned, and were often left in a mess, trying to find customers became more difficult so she was doing more advertising, you only really have May-Sept to make your money, and it's really only the 6wks of the school holidays, so any empty weeks are costly. It got harder and harder, the final crunch came when the site said if you want to buy a caravan you need to buy from us, no private sales. And if you want to sell, you can only sell to us. The camp set prices, and anyone who did but was told all the vans that were a few years old were getting taken from the site, the second hand market was gone, only newer caravans were being bought and sold.
If you wanted a caravan purely for your own use, as a long cheap holiday home they may be worth it, but think twice about renting.

Peter_Pan

you should also check how old the caravan is and what the sites rules are for age of vans etc as some say a certain age and then you have to buy a new one off them or upgrade or remove it once it gets to a certain age.

Debbie

lincroft1710

If you had bought a caravan for your own use and you wanted to offset your costs, it would make sense to let it for the periods you were not going to use it. Buying a van for letting purely as a business investment may give you a poor return for your outlay, it is dependent on so many factors : purchase price, provision of bedding/cooking/eating utensils/TV etc, site fees, desirability of site, rent that can be realistically achieved, occupancy probability, gas/electric/water charges, advertising and cleaning costs, repairs and maintenance, how many years van can stay on site.

And don't forget those wonderful people at HMRC will want to share in any profits(?) you make!

JennyJewell

Hi
Having a caravan is great but make sure you really are in a good financial position to do so - I know someone close to me who did this but found it too costly in the end to keep it going - it nealy crippled them
Good luck x
Jen