Are you wondering what the real cost of owning a static caravan is?
If you are considering buying a static caravan, you need to know all the running costs before committing to a purchase.
Read on to learn everything you need about the costs of static caravan ownership.
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How Much Does A Static Caravan Cost?
The cost of buying a static caravan varies significantly depending on location, model, age, and holiday park facilities.
Generally speaking, you are looking at investing anywhere between £7,000 and £50,000 for a used static caravan.
Then, from approximately £15,000 to £100,000 for a brand new one, possibly more if you’re after a high-end luxury lodge.
Did you know if you let your static caravan or lodge out, you might be eligible for a furnished holiday lets tax allowance, more broadly known as a capital tax allowance?
Static Caravan Finance Costs
Most holiday operators can advise you of any additional costs incurred when taking out any type of in-house credit agreement. However, always ask and check items on your credit agreement before signing on the dotted line.
It’s essential to be mindful of any additional set-up or early repayment fees and, of course, the total amount payable at the time.
If you have decided to purchase a caravan privately with the help of finance, again, check and allow for any interest charges, agreement fees, early settlement charges, or maybe admin fees.
There are different products available, much like buying a motor vehicle.
The types of products on the market vary from personal loans to hire purchases, personal contract plans, and credit cards.
Always ensure you can afford the repayments on top of the additional static caravan running costs we discuss below.
Static Caravan Depreciation Costs
Although the depreciation of a static caravan isn’t an annual running cost, it’s important to allow for depreciation when buying a new static caravan, just like you do when buying a new car.
As a very rough guide, it’s suggested that you should allow for 15% in depreciation in the first few years.
There isn’t much you can do about depreciation; you can cut the initial depreciation out by buying a used static caravan. A pre-owned caravan will depreciate, too, but at a slower rate.
Take your time to weigh up the costs of a new caravan versus a used one.
Static Caravan Running Costs
In the UK, you would typically expect to pay all running costs for your static caravan and annual site fees for the general upkeep of the specific holiday park.
Annual site fees differ from park to park and can vary depending on where the holiday park is situated and the size of your holiday home.
Static caravan fees usually include maintenance, security, entrance to holiday park venues, and facilities like swimming pools and entertainment.
You are responsible for paying the holiday park for gas, electricity, and water. Some holiday parks have installed metres; check if any extra fees are due to the energy metres supplied to your caravan.
Finally, don’t forget to allow Wi-Fi, TV licences, and TV and satellite subscriptions.
Always check paperwork with the park operator for a guide towards ongoing running costs.
Example Static Caravan Running Costs
Running costs vary a lot at different holiday parks, but let’s give you an example of the running costs of owning a static caravan at a Haven Holiday park in Devon:
- Holiday Park: Devon Cliffs
- Annual Site Fees: From £7,200 a year
- Annual Running Costs: From £1,940 a year
The above running costs include gas and electricity, water charges, holiday home insurance, and non-domestic business rates.
▶ Are you interested in downloading a brochure or arranging a park visit at a Haven holiday park? Fill out your details here.
Incidental Repair Costs
There are always those unexpected or incidental costs to wisely allow for, mainly due to natural wear and tear or perhaps the weather in the UK!
Such examples may include caravan roofs and skylights, leaking roofs and pipes, caravan floors, blocked or leaky gutters and chassis corrosion.
In an ideal world, always try and buy from a manufacturer or company that can offer you a long and comprehensive warranty.
Putting some money aside for those unexpected incidental costs is strongly advised.
Static Caravan Insurance
Some holiday parks may supply an insurance option as part of their site fees. If you are organising your own static caravan insurance, make sure you compare different options.
The type of insurance you require will depend on your usage; renting out your caravan may need income protection insurance and public liability protection on your policy.
Always shop around for comparison insurance quotes.
Buying A Caravan Off-site
If you decide to buy an off-site static caravan, you will need to consider the cost of transporting it to your designated pitch in your chosen holiday park. These transport costs will vary greatly depending on where your caravan is currently sited.
You could generally estimate costs starting from £300, but maybe up to £3,000!
Also, remember that you will also be charged for various disconnection fees: water, drainage, electricity and any other preparation costs for moving it to its next destination.
Costs For Letting A Static Caravan
If you decide to let out your static caravan to earn some extra money to offset the costs of static caravan ownership, don’t forget there are costs involved here.
If you use the letting services of a holiday park, they will charge a fee – make sure you check before signing any agreements. Often, the letting service the holiday park runs will include full management, including changeover cleans.
If you are privately renting out your static caravan in a holiday park, you will need to factor in all the costs involved, including marketing, changeover cleans and, if you are not local to the park, someone to check in and check out guests.
It’s also a requirement to have a gas certificate and electrical appliances (PAT) tested, so allow for those costs, too.
Remember you might be eligible for furnished holiday lets tax allowance.
Final Summary Of The Cost Of Owning A Static Caravan
- Initial purchasing costs start from £7,000 for a used static caravan to over £100,000 for a new model.
- Any additional financing costs such as interest or fees – if you use a finance product to purchase.
- Allow for initial depreciation costs if purchasing brand new, like you would a car.
- Ongoing running costs: site fees, electric, gas, water, Wi-Fi & TV licence, plus TV/satellite subscriptions.
- Incidental repair costs for wear and tear, like the roof, floor, etc.
- Static caravan insurance premium.
- When buying a caravan ‘off-site’, the associated transport costs and disconnection fees.
- If you decide to rent out your caravan, the costs involve the park’s subletting fee, cleaning costs, landlord’s gas certificate & electrical appliance tests (PAT).