To think my parents are making a mistake?

[FizzyCherry]

My parents are both of retirement age, Mum is 69, Dad is 72.
Due to various reasons they didn’t get a mortgage until 20 years ago and both still work to pay it off, but they have at least 7 years left on it.

They have decided they want to retire, sell the house and buy a static home at a holiday park. They’re convinced it’s their ideal solution.

I totally understand their logic but I can’t help feeling they are being lured into a situation they will end up regretting.

If they sell the house, they can clear the mortgage and buy a static home outright with money left over.

However, they still have to pay the equivalent of 2/3 of their mortgage in ground rent and various other fees.
The park has swimming pool, gym etc, they are “free to use” - but that’s another £120 a month membership (!)
They must vacate their home for the whole of February every year so the site residents can avoid council tax.
Plus a friend of theirs lived somewhere similar that the owner decided to sell to developers. They were given £45,000 to “buy somewhere new”, after having lived there 10 years. They only owned the home, not the land, so that actually wasn’t a bad offer, but obviously nowhere near enough to start again.
So although they won’t have a mortgage, their outgoings will still be quite high, and they won’t have the same income, and they will need at least one car because this place is in the middle of nowhere. Plus at the end of the day, they will have nothing to show for it.

I have visited and it’s nice, but I think they are so attracted to the idea of living on a holiday park they are not seeing the full picture.

In addition, it’s in the countryside, where my mum has always insisted she could never live.

I asked if they would even consider this village if they were looking at houses, they said not for a second.

I fully support them in needing to make a move (and the house they’re in they only bought when I was 20, I only lived there 2 years so there’s no childhood sentiments involved).
Nor is this about inheritance before anyone says anything.
Although we’re not well off now, my husband stands to inherit quite well and my parents have never had much, plus have several kids, so it’s never been something we really think about,

But AIBU to be wary of this solution? Their current house is five minutes from mine and they are convinced that I’m trying to put them off because it’s convenient for babysitting etc but I genuinely am not remotely thinking about me or my needs, I’m an adult who can sort my own life.

I haven’t told them this but my husband and I have been trying to work out a way to help my parents pay the mortgage off but we’re just not in that position right now.
Nor can we offer them a spare room for February every year, we don’t have one. Nor do my siblings (one does but he lives abroad and my parents don’t like flying so he comes here for visits).

I suppose what I’m looking for is reassurance that I am BU, or at least more experiences of why I’m not.

I have suggested they look at retirement flats etc, my mum thinks they are for “old people”.

They like their house and would stay if they could afford it.

WWYD?

What a horror story. She's screwed, isn't she?

I’ve just had to ‘rescue’ an elderly parent who got themselves into a massive hole in moving to bad accommodation. It’s been v expensive and time consuming and so frustrating as it was entirely predictable- watching it happen was like a slow car crash that you couldn’t do anything about. It’s definitely worth putting in some effort to prevent this. Selling up and going in to a retirement place, even renting a retirement place, would be way better than this holiday park.

If you're talking to me @bluelady, then yep she is!

Sorry to hear that @camelsinthegobi

I’ve thought of doing the same thing. Selling my house and then giving a lump sum to my kids. I would then keep enough to buy a Park home/lodge and to pay the mtnce. When I’m frail and need catered then I will be moved into a care home and my park home will be sold to pay for my care.

kimanda how old is your friend? She sounds like she is going to have to present herself to the council as homeless in a year or sos time.

@Newsofas

Yeah your caravan home can be 'sold for your care,' if you are only in care for a couple of months.

@SleepFreeZone ... Late 50's. 58 I think.....

I am fairly certain that Anchor, Hanover and H&C21 will take anyone over the age of 55 as their rental properties are not means tested in the same way that normal social housing is.

If a development has a waiting list it will be prioritised in order of need (i.e. someone at risk of eviction, someone with disabilities, etc.).

Contact them. It's worth a try.

Kimanda - then social services will have to pay my care just like they will for lots of people that don’t own their own houses.

I agree, the lady we know is going to be screwed, unless she actually adds more money to her debt to buy a newer caravan. Then again 4 or 5 years after. By then though (so like within 7 years or so,) she will be more in debt than she was last year when she sold up to pay off her £50K debts!!!

These park owners are sly fuckers aren't they??? Making people replace the caravan when it's 7 years old! (Especially when they sell them one that s 5 years old!!!)

@newsofas

Google 'deprivation of assets.'

My main worry on their part would be how isolated they may be if it gets to a point where they can't drive, if its rural there won't be many buses etc. Is there a different way they could downsize to reduce their mortgage outgoings?

@stressedoutpa

I didn't realise that. But it can't hurt to ask. And maybe even get on the waiting list. Even if they say no to housing the OP's parents now, they may still let them on the list, so if the worst happens, (in 2 or 3 years,) they will have built up some waiting times/points on the system (IYSWIM.)

It doesn't sound great but it has to be their decision. Could hey sell and buy a smaller house/bungalow instead?

Some very good advice up thread.
Yanbu at all to be concerned, especially as it will be you that has to deal with the fallout when they can't get to the docs etc

If it were my parents I would go over in a non-confrontational way and try and go over the pros and cons with them without trying to lecture them.
Try and keep them inside as if they take it further and start looking at plots etc you have a chance of them asking you for advice etc.

My grandmother made a terrible investment decision without involving my father and it haunted him (and indirectly the rest of us) for years.

lifechangesforever your PIL sound very lucky in their choice of park.
Most holiday parks I onow od close down some all winter but most all of Feb as the OP stated would be her parents case.

Residential parks have far more in the way of security of tenure.
I know family members living in a static unit, its close to the city, on bus routes, close to supermarkets, insulated, roofed, centrally heated, double glazed . They still have to pay ground rent and council tax and theres no onsite entertainment but the units are going up in value as people view them as an alternative to buying houses and flats in the city.

Having said this I still think the OPs parents would be taking a huge risk but they may be blind to the downside. I had the " you're just annoyed at losing your baby sitter " when one of my parents decided to move to the coast with a sibling. I was right it lasted 6 months before they fell out big time.

Btw obvious solution is to downsize
To a flat, not a "retirement" one, just a flat.
Perhaps find some examples and take them round? I do sympathise with their situation.

Thanks for the massive response, everyone. The general consensus seems to be that I am not being unreasonable. I also spoke to someone at work today about it, turns out another colleague’s parents did this, her dad needed a handrail fitted for mobility in the bathroom. He couldn’t have it because the walls weren’t structurally sound enough.
He had a fall in the shower, banged his head. Six weeks later, he died. It might be a coincidence but it really didn’t help to hear that.
I have spoken to my brother abroad. He’s due a visit soon so he’s going to offer to go to look at the place with them and be fully prepared to rip it to shreds if needed.
I checked the Ts and Cs on their website, they even state that their accommodation is not to be used in lieu of a permanent address, but their reps tell people like my parents that they can do that.
The more I hear, the worse they seem.

SS will have to pay for your care if you meet the needs threshold to have your care paid for, provided your assets are low enough of course. The problem is that it's possible to be somewhat frail and infirm, too much so to be able to live in a caravan comfortably, without also meeting the threshold for SS to pay for your care home. You don't just get to make them pay for you to go to a care home when you feel like moving to one.

I’ve not properly read through the thread, but I’d like to suggest some problems with living in a static home when older. I used to do care assessments with people at home p, and prescribe equipment.

Unless it’s specially adapted at the time of construction, park homes are not suitable for people with mobility problems. Your parents might be ok now...but what if one of them had a stroke etc? As the walls are plastic fitting grab rails to walls and showers would be very difficult and there’s no way you could put a frame around the toilet.. The bathrooms are small and cannot be adapted to allow a level access shower in the way normal ones can (that tiny step can be a massive problem). You can’t push a wheelchair through the doors and a even a zimmer could be difficult. If one of your parents needed to sit down and have help with washing it just wouldn’t be possible in those tiny bathrooms. They’d have to make do with a strip wash in the kitchen. Sometimes people need to have a hospital or profiling bed at home- how would that fit in a park home? Park homes need replaced every so many years as well, and they are coooooooold when the weather isn’t great, despite the heating.

Getting a flat somewhere near shops etc is a good idea. Getting a park home, except as a holiday home, is not.

Sorry OP I cross posted with you!

If they end up on benefits later on they won't be able to claim rent or anything for the static home. Can't any of their children take over the payments between them if they're left enough in the will each to cover it?

my park home will be sold to pay for my care
Your park home will be worth next to nothing
The chances are you will only be allowed to sell it to the park owners
If you have lived in it for more than a set amount of years you will be paying the site owners to take your park home away.

The reality is more likely that when you are old and frail you will be stuck in a cold, damp static caravan that can't be adapted for your needs and carers will only be permitted to do limited tasks.

Its not much of a plan is it?

My parents did this, it was a disaster.