static homes

cuddlygolfer

We are looking to purchase a static home, the on-site sales team intimated that getting a solicitor to check the lease agreement was not needed, not sure that this is ok? anyone had similar experience?
Appreciate that static homes don't have the same 'security of investment' as bricks and mortar, but it seems to tick all the right boxes for us.
Site is looked after, gardens are fully maintained, full membership and use of site facilities included in the yearly fees, 50 year lease on 2nd hand home, fully furnished, water rates included in yearly fees, which will see us out.
What do we need to do to make sure we understand all the pro's and cons for our decision?
Any help would be appreciated.

Billxx

I have no personal experience but I'd be very reluctant to enter into a major contract without a solicitor seeing it.  It will cost a few hundred pounds but worth it in my opinion.

How are energy costs charged?  I've seen horror stories recently of landlords having a business contract to supply the estate with energy, and hiking prices well above the going rate for occupants.

daveyjp

Why you need a solicitor.

Site is looked after now, what if it's sold and the new owners aren't so good at managing?
If its a 50 year lease and will 'see you out' what happens then? Possible headache for your survivors? 

What are terms of having to replace the home?
Is there a maximum age of howe allowed?
What if you become ill and can no longer use it?
Can you sub let? Holiday let/airbnb?

 

Grumpy_chap

cuddlygolfer said:

We are looking to purchase a static home, the on-site sales team intimated that getting a solicitor to check the lease agreement was not needed, not sure that this is ok? anyone had similar experience?
Appreciate that static homes don't have the same 'security of investment' as bricks and mortar, but it seems to tick all the right boxes for us.
Site is looked after, gardens are fully maintained, full membership and use of site facilities included in the yearly fees, 50 year lease on 2nd hand home, fully furnished, water rates included in yearly fees, which will see us out.
What do we need to do to make sure we understand all the pro's and cons for our decision?
Any help would be appreciated.

Another thing to check.
Is the home one that you can live in all year round and have as your principal private residence, main address for post, voting, health registration etc?
OR is the home only for holiday use?  Partial year occupation?

Neil49

We looked into buying one but having chatted with some of the owners we quickly changed our minds. The big issue was the annual site fees which are typically fixed for a few years but on renewal they can rocket.

We checked out a few homes and discovered that one we really liked had annual fees of £8k but would increase to £12k on renewal and another one that had a really good view would increase from £12k to around £25k - which was why it was selling at a good price!

You also need to add in the cost of services, particularly gas as the cylinders are bought via the site owner. I don't know how electricity is charged. If you want to rent it out then the home has to be checked out and approved by the site owners (at a cost) and in our case they didn't like external contractors coming in to do any work. 

We have decided that there is far less hassle in just renting one when we feel like it and let someone else sort out the problems of long term ownership.

I wouldn't rush into this and strongly recommend that you speak to other owners. We just happened to mention that we were interested in buying one and were given loads of advice (which is why we aren't going to buy one). 

twopenny

I believe for a static caravan you can only live in it for 11mts of the year. This used to be the case and I know one site closes to ensure this.

And there is a maximum number of consecutive days you can stay in it?

Change of ownership of the site can make a very different atmosphere and differnt rules and regulations.  I've encountered this. Also the site I used to stay at was sold for redevelopment to luxury chalets at wild prices. No idea what happened to the masses of caravan owners.

What are the clauses about facilities? These change regularly. One site I know well used to have a small supermarket but that went. The cafe has changed many times. The pool has been rebuilt in a differnt form twice.

Ground upkeep has changed and not for the better.

It's usually a case that the older vans have to move further back on the site as time goes on to preserve the appearance. Is that in the regs?

The suggested lifespan of one varies depending on who you are talking to. 10yrs and they are old. They will last longer but may not be welcome on the site. New ones may make it to 20 with good maintenance

50yrs sounds a long time to those I know. The vans are usually scrapped long before that. What is the info on how long you can keep the current van and not have to replace it?

Similar terms apply to challets with regards to replacing in my area.

Who is doing the maintenance on the van? 

Does it have a glavanised chassis? Are there things you have to do to maintain it? Gutters, cleaning, the water, the gas?

How do the insurance companies view a van or aging van? Is there anything in the T&Cs that state a certain obligitory cover?

These are only the few things I know from enjoying a friends van and knowing 3 large sites here and in 2 other areas.

With the cost being £89,000 to over £100,000+ I'd want to be sure I knew all the details.

Good luck. I've always fancied one but knowing that they devalue like a car and the limited lifespan (So think of it like a car ) and how little security re ground rent etc I don't have that money to spend.

Your best bet is to talk to others who have one on the site. They'll give you the honest truth. Is there an onsite cafe or such you could visit and get to chat to other owners? Or an online group?