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Helpfull avice on Buying a Holiday Home
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userCrispin
Posted: 31 October 2011 2:44 PM
Subject: Helpfull avice on Buying a Holiday Home
 
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Owning a Static Caravan gives you the freedom of owning a real ‘home away from home’, With your own holiday caravan you have the freedom to choose unlimited holidays at a moment’s notice, and you can even make extra money from turning your spare weeks into holiday rental income.

A Static Caravan holiday home is a major investment and we urge you to complete as much research as you can prior to purchasing. Some owners rent their holiday caravan when not in use to help subsidize the costs associated with ownership.

The location of any holiday home is important, it should be one of your prime considerations. With so many holiday parks in so many beautiful parts of England, Scotland and Wales it’s hard to go wrong. One thing to watch is the drive time: if it’s more than two or three hours from home, you may not go as often as you’d like to and may not make the buy worthwhile.

Once you’ve chosen your preferred area, take a visit, try Caravan Hire for a weekend or short break to get a feel for the park. You will benefit from the sales team being able to show you available plots and the different specifications and layouts of Static Caravans.

You may want to be near the beach, for instance, need somewhere that’s pet friendly. You may wish for a golf club within reach, a launching area for Jet Ski or a spa and fitness complex. Some parks will be tailored to meet the needs of families with young children, with excellent facilities including the all-important pool, whilst others have a quieter, more relaxed feel that appeals to a very different buyer.

Listings on our website show the facilities on each park and sometimes what’s available in the local area.

Once you’ve got a shortlist, ask the parks to send you their brochure. Check the opening times – many close for one or two months in winter

After you find your location, comes the “what’s the cost”, and this can be complicated because buying a holiday home is not the same as buying a house or flat. It’s more like buying a car, with the option to park it in a certain place for a certain length of time. Where you park it, and for how long, will affect the price you pay. Also take into consideration that you may need to purchase bottled gas, electric and insurance.

Look at a copy of the contract that you will be asked to sign when you buy. Attention should be given to the length of the contract, as this determines how many years you can keep your holiday home on the site. Ten years should be the minimum for a caravan but the term may be longer. Some agreements will allow you to keep your caravan on the park indefinitely, provided that you pay the appropriate fees and keep your caravan in good condition.

Find out what rules the parks have, for example: Will you be allowed to sublet and, if so, will you be able to advertise? Are pets allowed? Will you and your renters have free use of facilities such as a pool? If you decide to sell the home or to move it off the park, how much will you be charged? Look at the annual pitch fee, management fees – which can be considerable – and charges for utilities, rates and insurance.

The price of a home may not be straightforward. If you’re buying a new holiday home – as opposed to one already in the park – ask if there will be extra to pay for having it transported from the factory, sited on the pitch and commissioned (connected to utilities). It can be cheaper to buy extras such as double glazing and upgraded heating at the outset. Carpets, furnishings and kitchen appliances are usually included in the price.

When completing your sale you will be required to sign a purchase / license agreement that formalizes your contract with the holiday park owner. It is very important that you read and understand all terms and conditions. As with many consumer contracts a lot of people are put off by small print and simply do not read before signing but it is vital that you understand your responsibilities and those of the park owner.

It is crucial that you read and understand this agreement before signing as it outlines the responsibilities of all parties.

Holiday homes can be used for short breaks and longer holidays, but they cannot be used as your main residence. They depreciate in value and may not be an investment for the future.

Sited Static Caravans are very susceptible to depreciation in the early years of ownership as a Static Caravan is effectively sold as a package with your choice of pitch. Generally holiday parks will only offer you the ‘trade value’ for your Static Caravan should you wish to sell. This offer will be based on the value of the Static Caravan only. Should you sell privately most holiday park agreements will have restrictions and require a commission to be paid to the park owner. You may also find wear and tear increases should you rent your Static Caravan as visitors outside of your friends and family may not treat it with the same respect. You could use the Caravans To Rent section on our website to let out your caravan

For this reason we recommend that potential buyers fully research their purchase to ensure they are making the right long term decision


Edited by Crispin 2011-10-31 2:46 PM
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