Is financing a shepherds hut worthwhile?
The simple answer, yes.
The long answer is yes and here’s why: Finance will split up your payments across a term you choose, whether that is 2 years or 6 years. For example our largest hut fully kitted out is £35,000, across 2 years with a 10% deposit the repayments would be roughly £1,519.88 , whilst for 6 years it would be roughly £644.88 – now that’s a price I’d be happy to pay! (these figures are based off an excellent credit rating, your credit rating will affect these figures). So say you rent out your hut, you would only have to rent it for 4 nights a month at £200 per night to cover the finance repayment. This means that the money for the hut wouldn’t be coming out of your pocket, it would come straight out of the money you would earn from the renting of your hut and you’ll earn a pretty penny yourself! Obviously if you do not wish to rent out your hut, the hut will not pay for itself but the finance makes it so much easier. It’s lighter on your bank account and you don’t have to worry as long as you pay the installments!
These figures are a rough guide/estimate to help explain how efficient finance can be and how it can pay for itself!
What is the interest rate?
Well fortunately for you as a customer, a shepherds hut is easy to sell therefore making it less of a risk for the lenders. This is key for keeping the interest rates down. Every individual will have a different bracket of interest due to the lenders risk however typically 6.5% to 13% depending on the individual.
Living in a hut and finance?
With the cost of goods in the UK increasing faster than household incomes and homeowners struggling to make mortgage repayments, many are turning to a more cost-effective and sustainable way of living; One that doesn’t need a mortgage or a year’s salary just to pay the utility bills as well as having a low environmental footprint.
Which is where Shepherds Huts come in: they are a fraction of the price to purchase and if not purchased outright can now be financed with a very small deposit, if any. In recent years, shepherd’s huts have become the go-to-choice for a bespoke home office, upmarket glamping accommodation, children’s play den or cozy garden room. But we’re seeing a marked increase in the number of enquiries for huts with more practical uses, such as living accommodation that won’t become a long-term money pit. Through a combination of responsible material resourcing, the latest computer technology and skilled workmanship, we’re able to produce products to a very high specification and from just £25,000, they offer a real alternative to traditional houses.
