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Park home life

3 replies

madcatladyforever · 22/06/2019 20:23

I'm getting on for 60 and am thinking of selling up and living in a park home. A friend of mine lives on the site I like and he loves it.
I'm so tired of working 12 hour days, trying to pay off my debts and just keep this place going.
My son is struggling to get on the housing ladder and can't and I'm rattling round in this house.
I've had my life, a park home would be ok and I'd be able to get my son into a flat or house.
I feel a bit nervous about jacking civilised living in but I can't really see a downside other than a bit of snobbery about park homes.
Anyone live in one?

OP posts:
beachcomber70 · 22/06/2019 20:44

I don't live in one but know someone who did...and fell out with the site owner who made it so difficult for him to live there, then difficult to sell and move out. So if the site owner/s are on site it's good to have a good relationship with them.
Then look into how secure the land is and that it won't be sold off in the near future.
Then find out if the individual park home has a long life and won't have to be replaced after a certain number of years.
Important to have a survey done on an older one...check roof, underside, chassis etc. Old ones do not have the insulation of recent ones and can cost a lot to heat.
Then factor in the monthly site fee which isn't cheap. The ones I know about vary from £150-£175 a month which can eat into your income/savings.
How much equity will you have from the sale of your house? Enough to fund your son and his purchase? Enough to keep you going if you live another 30 years?
Don't forget when you leave the traditional brick/tiled roof housing market it will be very difficult to get back into it at a level you would like.
And park homes can be difficult to sell [the site owner usually takes 10% of the price when you sell up too].
Lots to think about but I know there are upsides too. There can be a close community in a park home site, and that's fine as long as you get your privacy too.
A site here has a policy of fencing/hedging no higher than 4 foot around the plots, front and back. I personally wouldn't like that...much too open.

longearedbat · 22/06/2019 23:11

My in laws lived in a park home for many years. It was a fully residential site for the over 55s. Good things were; decent sized home (double unit), generous garden and parking. Lovely neighbours and good community feel - generally a feel good place.
Bad things? A depreciating asset which, if it becomes too old, the park owners could insist you replaced it.
Ground rent of (at that time) £110 a month.
Being charged by the site for gas and electric from their supply, and therefore paying more than you would in a freehold house.
Having to pay a percentage of your sale price, if you sell, to the park owners.
Park homes are very hot in hot weather and cost a fortune to heat in the winter because of the gap beneath them, and they are generally poorly insulated.
Site owners changing regularly, and each new owner introducing various arcane rules.
This site is still very popular, although my fil is a widower now and moved away some years ago. New park homes on this site go for around 200k, which I think is exorbitant. They are well appointed, but when all is said and done, they are really just a fancy caravan.
You would be much better to invest in bricks and mortar. I know some park homes are very reasonably priced, but this is often because they are at the end of their life, and you may be required to replace it in due course.
It was the winter of 2010 that forced my fil to move - he nearly froze to death and just couldn't keep the place warm.

notangelinajolie · 22/06/2019 23:17

DH's auntie and her DH lived in one for 30 years. They absolutely loved it and absolutely everyone that lived in their little community were all best friends. Do it OP.

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