Along with the initial outlay when buying a static caravan or holiday lodge you need to be aware of the running costs involved when you become the owner of a holiday home. The main expenditure to be aware of is the annual site fee, followed by utilities, insurance costs and any maintenance that needs doing. For more information on each of these points please see below:
Annual Site Fees
This payment is the 'rent' for the plot of land that you site your holiday home on. This is usually the biggest outgoing and is also the one that can vary the most depending on which holiday park you choose. In some cases annual site fees can vary across the holiday park itself depending on the specific plot you want. Be careful not to choose a holiday park that has an annual site fee at the very top of your budget as this could cause problems in the future if the holiday park were to put their prices up by a considerable amount at a later date.
Utilities - Gas, Water & Electric
No matter which holiday park you choose as your new holiday destination there is no getting away from paying for the utilities you use. A clean, constant water supply is an essential part of everyday life and gas and electric supplies are vital to powering and heating your static caravan, making it a comfortable experience all year round. Normally water and electricity are supplied direct to the holiday home. Gas is usually supplied in large bottles that sit outside at the rear of the holiday home, these occasionally need replacing dependant on the amount of usage.
Having peace of mind for such a high value item is something that can prove invaluable. From floods to neighbouring caravans catching fire and causing damage to your holiday home having insurance covers you in the event of something unexpected happening, while also providing cover against theft and accidental damage. In addition to peace of mind some holiday parks actually require you to insurance your holiday home as part of the agreement when you first site your caravan.
Modern static caravans and holiday lodges are built very well nowadays using good quality materials and as such only require the very minimum of maintenance. Any costs relating to maintenance will normally be down to every day wear and tear rather than a fault developing.
If you used a loan to buy your holiday home then you need to keep in mind the monthly costs of paying this back. As it will be a fixed amount it should be easy to budget for this expenditure but if paying your loan back leaves very little left for any of the other items of expenditure above then you may need to consider buying a cheaper holiday home or moving to a holiday park with lower site fees.
To help off-set the costs of owning a static caravan you can look at subletting it to members of the public. This is a great way of helping to pay site fees or finance costs but along with the benefits you also need to be aware of any drawbacks. See our subletting page for more information about this.