Vanlife in Australia: What’s the Cost?

Vanlife is an increasingly popular dream that many Australians entertain, lured by the promise of freedom, adventure, exciting personal stories, and the open road. However, transitioning to life on the road full-time is a significant decision that comes with its own set of financial considerations. This article aims to demystify the costs associated with living the vanlife in Australia, offer actionable advice to help you transition and explore various financing options available through Credit One, ensuring that your journey into the nomadic lifestyle is as smooth and enjoyable as possible.

Understanding the Costs

Whether you’re considering vanlife in a camper van, camper trailer, or caravan, it’s important to have a clear idea of the costs that will be involved in setting up your new lifestyle.

Initial Investment: The Van

Your home on wheels is the most significant initial investment and one that you likely don’t want to cheap out on if at all possible. The ultimate cost will depend on many aspects, including what you choose to buy. While second-hand camper vans can be found in rare instances for between $5000 and $10,000, prices can soar depending on the make, model, and features.

Second-hand caravans are more expensive, starting from between $15,000 and $20,000 for old models that will likely need a lot of work, especially if you’re planning to live in it full time. If you do decide to go the second-hand route, you will also need to factor in the cost of repairing and upgrading elements of your camper van or caravan.

The ultimate cost of repairs and upgrades will depend on the condition of your vehicle and the level of comfort you’re looking to achieve. Barebones repair work can be done fairly cheaply, but if you want to add amenities such as air conditioning, TV, internet or instant hot water, be prepared to shell out for them.

Ongoing Expenses

In addition to the upfront expenses of purchasing and fitting out a camper van or caravan, you will need to allow room in your budget for the ongoing expenses that will be required to sustain your life on the road.

Accommodation

With rents in Australia reaching record highs, vanlife is becoming an increasingly more affordable form of accommodation. For many people, even a caravan that is financed in its entirety works out cheaper than renting in one of Australia’s capital cities. However, although it may be cheaper at face value, vanlife comes with a number of variable accommodation costs that you need to consider.

While there are thousands of free campsites scattered across Australia, they tend to be in remote areas and are not well-suited for those who are working instead of travelling full-time. If you fall in that category and have an office job or remote work that requires you to remain in one place for most of the day, a paid, powered site at a campground or caravan park can range from $20 to $70 per night.

Fuel

A vital aspect of vanlife, fuel costs depend on your tow vehicle, travel frequency and distances. But since we’re discussing caravans and camper vans, it seems safe to assume that every trip to the pump is going to cost you at least $100. How often you need to make those trips will depend on the factors outlined above, and will need to be budgeted for accordingly.

Insurance

Insurance rates will vary based on your individual case and risk profile. Remember, if you’re planning to pursue vanlife in a caravan, you will need to factor in the cost of insurance for both the caravan and your tow vehicle.

Food and Living

Food costs can vary wildly with the seasons and across the country, but as a general rule, shouldn’t be too dissimilar from what you’re paying at home, although you may find it more difficult to buy in bulk due to the limited storage available in a caravan or camper van. Remember to factor dining out into your budget, as there are sure to be nights where you don’t feel like cooking in a caravan kitchen.

Laundry, Connectivity, and Entertainment

These are variable costs, with laundry averaging $14 for a wash and dry at a laundromat, prepaid SIM cards starting from $15 – although you will probably choose to stick with your existing phone plan – and entertainment costs depending on personal preferences. If you’re travelling full-time, your entertainment budget will likely be higher.

Making the Dream a Reality – Financing Options with Credit One

For many people, vanlife offers a captivating path to a thrilling life filled with adventure and a supportive community of like-minded travellers. Credit One understands this appeal and the unique financial needs of the vanlife community and offers a range of solutions to make the transition as seamless as possible.

Secured Caravan Loan

Ideal for those buying a new or second-hand caravan, this option uses the caravan as collateral, ensuring competitive interest rates and security for both parties.

Commercial Hire Purchase

Similar to an asset lease, this arrangement allows businesses to hire the caravan for a fixed period, with ownership transferring after the final payment. It combines the flexibility of use with the potential for tax and cash flow advantages.

Start Your Journey to Van Life with Credit One

Vanlife in Australia is an attractive lifestyle choice that offers an alternative to the status quo, a life of unparalleled freedom, adventure, and the chance to belong to an engaging and supportive community. However, it requires careful financial planning and consideration of both initial and ongoing costs. Through our range of financing options, Credit One provides tailored solutions to help make this dream a reality, whether through secured loans, leases, or mortgages designed to suit every budget and lifestyle.

If you’re considering a switch to vanlife, use our caravan loan calculator to get a practical look at how affordable financing can be.

As you contemplate the open road ahead, remember that the journey to vanlife is as much about financial planning as it is about adventure. With the right preparation and financial support, you can enjoy a thriving life with confidence, knowing that the costs are well within your grasp and free from the uncomfortable feeling of financial pressure. Start your journey today and find your dream caravan by exploring the range of caravans for sale at Only Vans.