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How to choose the right holiday home for your budget

Written by Fiona

April 04 2022

Do you like the sound of a perfect getaway, in an ideal location, which you can visit any time you like? Then, why not consider buying your own lodge or caravan for all your staycation needs?

If you’re a first-time buyer in the holiday home scene, or looking to expand and explore a different location, there’s likely to be a property to suit your budget. Plus, we’ve put together the ultimate checklist, so you know what to look for in a budget-friendly holiday home.

Know your budget

The first step in buying a holiday home is to know and understand what you want from the property, so you can find one that suits your needs, within your budget. Is it important to you to have a hot tub, for example, or adequate space to fit all the family? 

Once, you know your needs and requirements, you must then determine your budget, and how much you’re willing to spend on a holiday home. This can help decide the level of luxury, extra features included, the size, layout and location of your new purchase. 

Type of holiday home

There are many types of holiday home you can own including holiday lodge and static caravan. 

Static caravans come in a range of sizes and styles, and can be great value when starting out. You’ll need to think about the space in relation to needs and uses, as well as the size of the party.

For example, if you have a large family, would you need two or three bedrooms, or additional bathrooms? Depending on your budget, you could look for additional features such as double glazing and central heating. 

Lodges tend to be on the higher end of the scale, in terms of expense. They usually offer more spacious interiors, modern design and the ultimate luxury. If you’re thinking about subletting your holiday home, then opting for a larger property could be beneficial, as they tend to be sought after all-year round. 

You may also have sustainability in mind when choosing your holiday home. Depending on the holiday park operator, there may be some great initiatives and schemes in place to ensure your purchase is helping to protect the plant. 

For example, when you buy a holiday home with Away Resorts, they will plant a tree with Creating Tomorrow’s Forest, to offset their carbon footprint and help combat climate change. 

For example, when you buy a holiday home with Away Resorts, they will plant a tree with Creating Tomorrow’s Forest, to offset their carbon footprint and help combat climate change. 

Pre-owned vs new

If you’re new to holiday home ownership, a pre-owned static caravan may be the best option for you. This is a great way to enjoy all the benefits of your own holiday home and the holiday park experience, at a much more affordable price. On average, a pre-owned holiday home can start from £59,995, depending on the size and location. 

However, if you want a property that exceeds your expectations, then it’s worth considering a brand-new holiday home. Starting from around £159,995, you can experience top of the range luxury, with all the latest furnishing, fixtures and fittings. 

Whether it’s a spacious lodge or a classic caravan, owning a holiday home can be a great investment, and although it may be initially expensive, you can generate profit through subletting your property to help towards the running costs.  

Location

Some areas are more expensive than others, but you’ll want to find a balance between your dream location and an affordable holiday home. 

This is also an important factor if you’re considering subletting your holiday home. Desirable areas may be more expensive initially, but you could make a return on your investment, if it’s located in a popular tourist destination

With a competitive price, you could earn a healthy income to put towards the running costs of your holiday home.  On the other hand, a more remote location could be a unique selling point to entice guests to your property. 

Annual rates

The last thing to consider and factor into your budget, when buying a holiday home, is the additional rates and fees you’d need to pay. 

When consulting with your chosen holiday park operator, you’ll need to ensure they have reasonable pitch fees, which can increase in price when opting for a lodge over a caravan. 

There will also be annual running costs, including charges from the local authority, water, gas and electricity. Other costs could also include winterisation of your holiday home, as well as insurance. 

Owning a holiday home can be an exciting venture, and with this handy guide, you can now take the first step towards your dream holiday.  

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