Short term buy during house exchange

Discussion in 'The Beginner' started by RickG, Mar 30, 2015.

  1. RickG

    RickG Read Only Funster

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    Hi,

    I'm new to the forum, but not to the concept of small campers having converted a van some years ago.

    I'd like to seek your advice regarding the sense, or otherwise of buying a motorhome for a short period of say 4 to 9 months after the sale of my house while we find somewhere new to live. We are no longer tied to a region, so the idea of touring the UK over the summer looking for a property in which to retire is very appealing. However, without much idea of depreciation and costs I'm not sure how sensible it may financially.

    Clearly there are very many factors involved, but just for the sake of example (and please humour my ignorance), If we were looking for a 2-4 berth motorhome with a budget of around £25-£35k with the important caveat of recouping as much of the purchase price at resale as possible, would anyone be able to offer advice on which models of motorhome I should consider? Two of us will be totally reliant on the vehicle as a home for that period so it must be viable in that respect.

    I realise the choices and opinions will be wide ranging, all I can ask you, the experts, is to put yourself in our position and offer your very welcome opinions.

    Best regards

    Rick
     
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  2. Wildman

    Wildman Read Only Funster

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    there are many that have been in your position, and gone abroad to enjoy a bit of sun for a while, after 2-3 years they eventually find what they are looking for and buy a property, though most keep the motorhome as well, hee hee
     
  3. pappajohn

    pappajohn Funster Life Member

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    For what you have planned i would buy a caravan.

    You need transport to view properties and decamping every day would be a real pain but a caravan can stay put while you use the car to travel.
     
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  4. RickG

    RickG Read Only Funster

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    Thanks for your thoughts.

    I must agree that the caravan is the sensible option, though the running away for a year and a day is very appealing too!

    Cheers

    Rick
     
  5. Spidey

    Spidey Funster

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    Yes I would agree if you buy say a 3/4 year old caravan then you wouldn't lose very much. It also would mean making sure your car was suitable for towing.

    Of course you may love it and keep what ever you have bought :)
     
  6. etap

    etap

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    I am sure you have already thought of it but, don't get caught out by the rise in house prices it could happen! In the past people have left buying for a period then could not afford to buy the one they left.
    Caravan must be the best option.
    Etap
     
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  7. John Laidler

    John Laidler Funster

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    That is certainly a factor to bear in mind although it probably depends where you want to retire to. Some parts of the country property prices are increasing more than in others and perhaps the election result might have an effect but I sometimes think politicians give themselves too much credit for what happens in the economy. External factors are probably more relevant.

    There are folk on here who can buy a MH, use it for a while and then sell it on at a profit. If you are good at say buying and selling second hand cars then this might be an option but otherwise expect to take a hit when you sell and if you buy and sell to a dealer I would guess the hit could be £5K upwards - just a guess mind. Doing it all privately the drop could be small to zero or even positive but you need to know what you are buying and remember there is no Sale of Goods Act for private sales.

    A caravan sounds a good idea but this is going to restrict you to campsites and these will be say £15 to £20 a night depending where you are staying and the time of year. There are of course CLs and their like and these will bring the cost down to around £10 a night, but that's still £70 a week or the best part of £2K over 6 months.

    You will also of course need a permanent address, such as a relative, to use for correspondence, not least when you come to buy your house.

    It would probably be cheaper overall to rent a small house in the area you are interested in and then explore for properties. Or buy the MH and go off on an adventure! Heart over Head argument - I would go for Heart and buy the MH even though it might not be the cheapest option - but it will work out a more fun one though I hope.
     
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  8. dippingatoe

    dippingatoe Read Only Funster

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    Be very careful !!!!!!

    That was what I was thinking, and now I don't want to buy a house at all !!!!!! :LOL::LOL::LOL:
     
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  9. scotjimland

    scotjimland Funster Life Member

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    very good point.. also needed for driving licence, insurance etc..

    also bear in mind , if you live in a motorhome with no other fixed abode, it will need to be insured for 'full timing' ... which is expensive.. think four figures ..
     
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  10. PeteH

    PeteH Funster

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    Dependant upon where you want to live. Renting (a house) will cost 4 to 500 per Month for example. PLUS council tax and utility bills. My grandson who is a Student in Newcastle. pays in excess of 400 (inclusive) per month for one room and shared facilities.

    A Motor-home will, after purchase, cost Road Tax. MOT. Maintenance and fuel. Plus site fee`s. but with the advantage of Flexibility. and up to 20% per year of ownership, you can expect to lose on resale, You may also need a car for full flexibility .

    A caravan, has to be tow-able by your existing vehicle OR you have the cost of both. But would be the significantly cheaper option. Expect to pay average of £12-00pn *** with electric on C-L`s etc. add to that your laundry costs, and GAS. And be prepared to move every 30 days to comply with the "rules" (same applies to a Motor-home of course). *** some site owners charge a Monthly fee substantially cheaper.

    I have done this twice now, though in my case we where living on Building Sites. (one Self-Build and one complete refurbishment), where we had access to Utilities.

    Pete
     
  11. Cal54

    Cal54 Funster Life Member

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    Whilst appreciating the benefits of a caravan this isn't an option I would choose. Assuming you have a car at present why not consider if it is suitable as a tow vehicle. Get a MH that is a suitable layout for your needs and travel all over the country to find your next location. I'm sure you will have friends/family who are prepared to act as a 'base' re mail etc. A lot of Funsters are advocates of older Hymer MH's so don't rule out spending a bit less and getting a slightly older van than perhaps you thought.
    What ever you do, good luck it sounds like a great adventure.
     
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  12. RickG

    RickG Read Only Funster

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    Thanks for the latest update.

    Particularly useful has been info on things like the insurance situation for 'full-time" use. I'd not appreciated that could be an expensive issue. Also, the quality of Hymer MH's, all very useful advice. The postal address can be solved as suggested and I know people who live full time on canal boats who accomodate the issues that living on the hoof may bring. Inevitably we'd need storage and would have those costs to bear.

    No problem pulling a ' van, we have a Land Rover ( it even works, mostly ).

    We have the mixed blessing of little constraint to location as we have no ties and could go anywhere in the UK ( apart from the very pricey areas) so being able to move around every week or three in a van would be a great way of getting a feel for somewhere without the commitment of a 6 month rent while we make up our minds.

    I also appreciate that house prices are rising, so it would be important to not hang around too long and thereby effectively devalue the capital from the sale of the existing house. I do wonder how long this will continue though, as I'm sure UK house prices are seriously over inflated.

    Anyway, thanks again for both your advice and good wishes :)

    Rick
     
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  13. JMCornish

    JMCornish Read Only Funster

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    Hello,

    I am extremely new here but I have a vast experience in caravans having worked for Swift Group, Bailey and Hymer. I was an independent QC and employed when required. I would highly recommend purchasing a caravan, now I would avoid something British, simply because you may plan to use it as a home through different seasons. Personally I would buy something German, a Tabbert, West Star, Hobby etc. If you buy one I would go for 8ft wide, you will get a spacious bathroom, central heating, a centralised bed and a large lounge area. You will also get a fully winterised body, solid construction. If you want further space and have the room purchasing a large second hand 4 season Isabella awning, you can seal it off, put a sofa in it and use it al much needed space. Your total outlay will be £5000 maximum and you should recoup almost all of it.
    You will find sites with seasonal pitches that will cost around £1800 and my offer a 12 month pitch with the caveat that you move out for 2 weeks.
     
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  14. John Laidler

    John Laidler Funster

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    See you in the South West then! I come from Carlisle, wife from Wales, spent 30 years in the Army and wanted somewhere to settle down and we chose South Devon. I do confess to missing the hills, Dartmoor ain't a patch on the Lakes or the West Highlands of Scotland where my brother lives. But we have a MH now and if the mountains won't come to us - we go to them. :)
     
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  15. pappajohn

    pappajohn Funster Life Member

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    Biggest problem with that option.....those listed above are synonymous with travellers, more so Tabbert and west star but does include Hobby and Munsterland, and many campsites wont let you past the gates.
     
  16. hilldweller

    hilldweller Funster Life Member

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    If you want low depreciation you must buy low, privately, ebay rather than a dealer.
     
  17. The Wino

    The Wino Funster

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    We had a Hobby caravan the travellers buy them for a reason......quality
     
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  18. laurieash

    laurieash Funster

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    What we did when we sold our house was to by a cheap static 3 birth caravan on a site to live in only used one bedroom the other two was used for storage. still got it 3 years on kids use it for holidays in peak season we use it when we get back from over wintering in Portugal.
    Win win in my case.
     
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  19. RickG

    RickG Read Only Funster

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    That's a smart idea...

    Rick
     
  20. laurieash

    laurieash Funster

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    Also sold a lot of furniture etc at a nice slow pace it paid for first two years away also the ground rates, the amount that I would have paid in renting a house was £460 per month it paid for the caravan in 2.5 years.
     
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