Whether you’re looking for a holiday away from the daily grind or a longer adventure as part of your retirement plans exploring this great southern land is a must.
From the aqua blue waters of the Great Barrier Reef to the breathtaking burnt red of our rich, dusty centre, caravanning is a great way to explore Australia.
It’s certainly a popular choice. Since 2013 the number of caravans registered in Australia has grown by over a third1. And, if you live in Queensland you’re more likely to own a caravan than any other state.
And it’s not just for the older generation with 30 to 54-year-olds making up 47 percent of the caravan and camping visitor market2.
It’s no wonder caravanning is becoming more popular. The Caravan Industry Association of Australia’s ‘Real Richness’3 study found that Australians who go camping are “more satisfied, happy, optimistic and energised than those who do not go camping”. From the study, campers said that camping makes them “more productive, more grounded, more in touch with nature, healthier and gives them the time they need to gather their thoughts. What’s more, they are also less stressed, frustrated, bored and lonely.”
Investing in a caravan
If you want to join the caravanning ‘scene’ and you’re thinking of investing in a caravan, you’ll want to weigh up the considerations and costs. Many people rent first. It gives you the chance to try before you buy. Then, when you go ahead and buy, you’ll know what features to look for.
Buying a caravan is a big investment. Not just because of the upfront cost. You’ll need to budget for ongoing maintenance, registration and insurance. And, there’s the cost of the holiday itself. Fuel is a major expense and can be much higher in remote areas. There’s also the cost of camping fees, activities such as tours and National Park entry fees.
For some, there may be an opportunity to fund your trip by renting out your home while you’re away or, if you’re going on a longer trip, doing some occasional work along the way.
‘Grey Nomads’ is a term used to describe people who are usually retired or taking a career break and travel around Australia. Some take over a year to circumnavigate the country. Or, another popular option is to travel north in winter each year to avoid the cold in the southern states and enjoy some warmth. Even if you’re not retired, the Grey Nomads website is a great resource to help plan a trip, look up upcoming events, read blogs and interviews about other people’s experiences and information on the destinations they’ve visited. There’s even a classifieds for buying and selling caravans and volunteering opportunities.
So, it’s time to stretch those caravanning legs, but where to first? The options are endless. You could drive around the Australian border, criss-cross through the centre or base yourself in one place and plan shorter day trips. Or you could follow specific points of interest, such as wine regions, beaches or historical country towns.
So, start making tracks.
Contact your financial planner to help manage your big investments and make your aspirations a reality.
Article sourced from Executive Wealth Management PortfolioWatch®
1 Caravan Industry Association of Australia ‘Trade registration report’ 30 June 2017
2 Caravan Industry Association of Australia ‘Latest Caravan and Camping Visitor Snapshot’ 28 June 2017
3 Caravan Industry Association of Australia’s ‘Real Richness’ study. “Camping” included holidays in swags, tents, tent trailers, camper trailers, caravans, campervans, motorhomes and cabin accommodation.