Static caravan purchase - keeping costs down

WindfallWendy

I'm thinking of buying a static caravan, mostly for myself but recognising that it's a money pit when you consider the site fees. I can justify it, but that doesn't mean I'm willing to throw more than I need to into it.

So, I was just wondering if anyone else had a caravan which they rented out maybe, and whether there are any tips or tricks, or indeed pitfalls to be aware of?

I know costs can go up, and I know about all the other fees and charges involved, but I have enough in savings and ISAs to cover that with the interest I get. So this question is very much about the extras and tips to retaining a quality feel to a 12 year old metal box.

Any ideas?

lincroft1710

If you're buying a 12 year old van, for how much longer can it remain on the site? Also some sites don't encourage vans of that age being sublet

badmemory

You will need a reliable cleaner after every let.

Grumpy_chap

WindfallWendy 

6 June at 9:01PM

I'm thinking of buying a static caravan, mostly for myself but recognising that it's a money pit when you consider the site fees. I can justify it, but that doesn't mean I'm willing to throw more than I need to into it.

So, I was just wondering if anyone else had a caravan which they rented out maybe, and whether there are any tips or tricks, or indeed pitfalls to be aware of?

I know costs can go up, and I know about all the other fees and charges involved, but I have enough in savings and ISAs to cover that with the interest I get. So this question is very much about the extras and tips to retaining a quality feel to a 12 year old metal box.

Any ideas?

As this is MSE, what is the attractiveness to you of buying a static caravan which you can then maybe rent out?

How many weeks per year do you expect to stay in the caravan yourself?

If you don't pay out the capital on that depreciating asset, what else can you do with the money?

If you don't tie yourself into the site fees, what alternatives do you have?

What is the demand for rental units at the location(s) you are considering and what income will that leave you with after associated costs such as management administration, cleaning, repairs are considered?

As an alternative to all of the above, what would it cost to rent a unit just for when you want a unit, with the increased flexibility that will give you on location?

badmemory

One site I know that was crammed full after covid is now more than half empty. They doubled the site fees after covid & now can't afford to lower them

WindfallWendy

Thanks for all the comments!! I'll try and address them all.

The site doesn't have an age limit on caravans, and whilst I will likely make it available to others, it will only be to friends and family for a contribution to running costs.

I have contacts for good cleaners, as we've been regulars as holiday makers at the site for a while :)

I have worked out the total anticipated cost of buying and maintaining the van over the next ten years and given the quality of life it will add, the cost is worth it. Holidays will be a doddle, sea views whenever I want them, and a place to stay within easy reach of other beautiful beaches. And somewhere I can share with friends and family. The alternative is that the money will sit in an account waiting for me to spend it and I have realised that I don't have anything else I want to spend this money on.

I appreciate everyone's concerns, but I really am just after ideas to help keep a caravan fresh and vibrant.

Sea_Shell

"just after ideas to help keep a caravan fresh and vibrant."

As with anything, house, car etc etc, a caravan will just need to be kept clean and well maintained.

No pets and no smoking will all help. No outdoor shoes on carpet. Fly stickers, changed regularly.

Moisture traps over winter. (what season length is the site?)

Any little jobs, done ASAP not left to get worse. Loose door knobs, dripping taps etc.

You can make it feel homely by adding some co-ordinating accessories.

Hopefully your friends and family will treat it with respect too! e.g. do some cleaning themselves before they "checkout".

If you are aware of all the pitfalls, and it's what you want to do, go for it!!!!

Just make sure you buy a good one to start with! As the old saying goes, "you can't polish a turd" 😉

MasterG83

I am aware of this business operation as its part of what I do for a living, we have a number of people that end up not being able to afford repayments and site fees. However, if you are buying cash and you've looked at the current sites fees then I would say go and enjoy it, its an escape, you know the site. You can always have it moved to a different site. Obviously don't expect to make any money out if, people never do but if it helps with the fees and your happy then go and enjoy it.

Sea_Shell

"Holidays will be a doddle, sea views whenever I want them,"

Just another thought. If you want to be able to do this…then you might find that you don't have the spare weeks to be able (or want to) let anyone else have it.

Can you imagine the annoyance that you say to someone, yes you can have it on XYZ week, and we get a run of bad weather, and the only good week we get is THAT week.

No doddle holidays and no sea view for you!!!!!

Can you afford to do this without some contribution towards the running costs?

Also, are your family and friends the sort to take advantage of YOUR "Happy Place", and see some sort of 'entitlement' for you to share it with them. Will they guilt trip you into letting them use it?

MasterG83

Good points above, also should have added, perhaps a holiday fund and just go to a hotel whenever you want and change locations, worth considering the costs of both.

Sea_Shell

More thoughts...

How far is the site from home? Don't underestimate how many "setting up" trips you might need to make.

Also would you have a "plot" that you have to maintain, mow?

Also setting up costs can mount up. Unless you have lots of spare stuff already at home. Bedding, kettle, toaster, cutlery, vacuum etc.

Is the site mainly holiday rentals, or owner occupied? Are you happy to have different neighbours every week, who may not be entirely respectful (noise etc)