Life in a Park Home? Nice or not?

[carb0nated]

My friend is divorced and very limited (relatively speaking) with funds. We are talking Surrey here. These park homes look really nice and well kept, I know they are for over 50s (and she is that).

Are there any huge downsides?

www.rightmove.co.uk/property-for-sale/property-50169159.html

www.rightmove.co.uk/property-for-sale/property-49767717.html

Depreciating asset.

You have to replace it with a new one when it gets to be a certain age.

You might not be able to buy a new one off anyone other than the sites owners (no competition, high costs, commission).

The site might have extortionate and spiraling site fees.

The site might require you to use their plumber/electrician etc for any work (see earlier lack of comp and high costs and commission).

Might not actually be able to live there full time? Sometimes you can't do this.

Who do you buy electricity from? Potentially again from the site and at higher costs + commission.

This gives a good summary:
www.housinglin.org.uk/_assets/Resources/Housing/Support_materials/Viewpoints/HLIN_Viewpoint67_ParkHomes.pdf

Horror story:
www.theguardian.com/money/2003/apr/27/property.homebuying

I hate them
I'm a community HCP and see lots of people in park homes
They are usually in a nice setting and have good communities
Park fees vary and can rise
Often no mains gas so bills are expensive
Depreciation
Some are hard to sell on
What is the insulation like
I think it's like putting gold taps into a tent. The money goes on superficial stuff not in creating a solid building
If you become disabled they are a nightmare to adapt and often have poor access

Thank you. I knew there would be catches. She's going to end up living in a tiny one bedroomed flat the way things are going.

She'd still be better off in that.

Wow they look really nice inside and I love the second one with the garden.

I can see the temptation to have your own little space.

But it's the same price as a house down here! isn't it just thin walls etc.

Everything that silver spot says is right. My partner's father and his (now dead) wife used to live in one. If you sell they demand a percentage of the sale price, and you also have pitch/ site fees to pay, in their case it was £130 a month (and this was a few years ago). The biggest problem was keeping it warm. The winter of 2010 nearly killed the poor old man. The insulation is so bad that unless you run the heating all the time in very cold weather you just freeze. He now owns and lives in a sheltered housing place and he is lovely and warm.

A really bad idea for all the reasons set out above. Your friend should find the nicest flat she can get for her money.