Buying a park home do's and don'ts

lincroft1710

Most of the previous posts have ben written by people who have confused park homes with holiday homes.


A  park home is designed for year round living and will be built to BS3632 which was last updated 6 years ago. It lays down the requirements and specifications for park home materials and construction with emphasis on energy efficiency. It will not be difficult to heat or keep warm. Park home parks are licensed for year round occupation and many parks stipulate over 50s and no children.


A major downside will be that having purchased your park home  (£200,000 plus is not unusual) you have to pay a weekly or monthly site rent.

systemshq

And the problem there is the amount the park owner can raise the pitch rent capped in any way? Eg if the rents start to double every year then there’s a problem. 

leonj

I know some people that love their park homes, but it totally depends on the park itself, the owners and how it is run, fees etc. Some sites are really well regarded and homes are snapped up straight away, then there are others where people struggle to sell

GDB2222

lincroft1710 said:

Most of the previous posts have ben written by people who have confused park homes with holiday homes.


A  park home is designed for year round living and will be built to BS3632 which was last updated 6 years ago. It lays down the requirements and specifications for park home materials and construction with emphasis on energy efficiency. It will not be difficult to heat or keep warm. Park home parks are licensed for year round occupation and many parks stipulate over 50s and no children.


A major downside will be that having purchased your park home  (£200,000 plus is not unusual) you have to pay a weekly or monthly site rent.

That one figure £200,000 encapsulates all that is wrong with park homes. The caravans don’t cost anything like that much. Take a look here:

https://www.sunriseholidayhomesltd.co.uk/product-category/winterised-static-caravans/

Prices range from £10-60k. The £60k will buy a new van.

But, stick it on a site, and the price shoots up three times over. That would probably be okay if you owned the pitch it’s on, but of course you are just renting it. So, the pitch has no value.

daveyjp

Skiddaw1 said:

I was going to suggest the same (think about narrowboats or houseboats as an alternative). I think they'd hold their value more and whilst you would have to factor in mooring charges, it might be a better option overall.

Having said that, I have known people who have very happily lived in park homes. It can work, but its very much on a case by case basis.

Canal boat living means either paid moorings or continual cruising, which means burning diesel.

I've seen annual costs at about £1,000 a month and you need a permanent address to make life easier.

Sally_doodles

Another thing to remember is that some of the residential sites have age restrictions.  For example the site next to me allows no one under the age of 50 years old to live there.

ChasingtheWelshdream

Just thought I’d comment as a family member lives on a residential site (over 50s).

I was at first very sceptical, especially with the rules and fees. But actually, it suits them perfectly.

Yes, it will depreciate over time, but it is their home - not an investment- and a far nicer one than they had before. Which as a flat, also had ground rent/service charge and, as a poor conversion, was damp and costly to heat.

It is nothing like a static caravan. Well insulated, cosy and looks like a little detached cottage in its own fenced in plot. I’ve not seen any for sale over £90k (the best plots with private parking), many around the £60k mark. We are in a cheaper area, but the bus stop is right outside the gates with direct links to town.

The community is close with privacy respected, and generally a nice, well maintained, respectable place to live out the golden years.

They certainly don’t suit everyone, and financially it’s not great. But for some, it can be perfect.

BB34

Hi, I recently moved into a park home and I recommend t!  I didn't buy it as an investment, I bought it as somewhere I can live happily and peacefully.  It is a wonderful neighbourly village type of environment and is more like a little bungalow than a caravan., with a private garden, mains gas (No gas bottles) and is so lovely and quiet.
I couldn't afford to buy a detached house, nor even a semi detached house, so would have had to look at a flat, which I didn't want. I'm happy with it.

systemshq

How did you purchase your park home please? 

BB34

I bought it through an estate agent, I didn’t have a loan as had sold my house but believe you can find specialist finance for park homes.