When you decide to buy a static caravan one of the main things on your list should be how much you can afford to spend. And this advice is good for any big purchase. Set a budget and stick to it!
When you have decided which Park and what type of caravan you want, keep your head and don’t be persuaded to spend more than you can afford.
Remember that most of the Sales staff on Parks are paid on commission – they will get paid more if you spend more. They are very highly trained in selling and tap into your emotions placing a big emphasis on the dream aspects of holidays. They don’t really cover the pitfalls and they definitely don’t tell you the profit mark up they will have added to the caravan. This is something you probably won’t find out until you come to sell your caravan. Go into the meeting with the sales staff with your eyes and ears open, ask lots of questions, make notes and don’t sign anything there and then. Go away and discuss everything. Any ‘special offers’ will still be there when you go back. And check the ‘cooling off’ period so you can change your mind if you feel you’ve been pressured into buying.
Beware of finance. It’s a great way of paying for a big purchase over a period of years, but remember to stick to your budget. Ask lots of questions and don’t just be fobbed off by how much you will be paying a month. Make sure you know how much you will be paying altogether over the period of the finance. Don’t be one of those owners that has to sell their caravan because their circumstances change and then finds they owe more than the caravan is worth.
Also beware of ‘guaranteed rental income’. Sales staff may promise you a guaranteed rental income from hiring out your caravan. Don’t forget this has to be declared as income to the tax office. And also make sure the Park has rules on damage deposits and keep a careful check on your caravan to ensure it is being cleaned and cared for properly.