Within a few hours, you and your family or friends can be in a beautiful location, enjoying the outdoors and everything that areas such as Dumfries and Galloway have to offer. For many a static caravan feels like a second home, which means you won’t need to pack much except for food and other essential items before you head out the door.
However, as appealing as a year-round holiday sounds, not everyone can afford to buy a holiday home – not on their own at least.
Is It a Good or Bad Idea to Buy a Static Caravan with Family or Friends?
Sharing the costs of a static caravan does make a lot of financial sense, provided the necessary agreements are securely in place. You should agree the financial contributions each party will make towards the caravan purchase and then how you will share the annual costs and general repairs. It’s also important to discuss when each party will have use of the caravan; you might want to holiday together or separately.
All parties should also sign the Purchase Agreement so everyone is aware of the terms and conditions. Ask the Park for a copy of their Purchase Agreement which you can read over prior to making a final decision.
You may wish to hire the caravan out during the periods you won’t be using it. This is provided the park you’re buying from allows you to ‘let’ your caravan. Letting is another way that you can cover some of the costs associated with a caravan.
If you and a friend or family member have been considering purchasing a holiday home together it’s definitely worth exploring further to see if it’s the right decision for you. Parks are likely to have a range of statics to choose from (new and pre-loved) so can accommodate most budgets. Check out our first time buyer’s guide. Viewings of holiday homes for sale are available 7 days a week, by appointment.