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Original poster

Park home for permanent residence

118 replies

stillvicarinatutu · 15/12/2022 00:39

In 9 years I will retire at 60 - compulsory.

I will receive a limited pension.

I'm currently renting and that will not be sustainable after retirement. But my lump sum could buy outright a park home .

Can this be done ? Can a park home be bought to live in full time ?

I'm now in process of divorce, but I want the marital home to go to the kids and I don't want to turf my soon to be ex dh of 31 years out of the house - he will not get a new mortgage.
I'm taking legal advice in the whole financial situation but if I do try and take my equity I think it would render my ex homeless and I aren't willing to do that.

A park home seems like a solution and I could live anywhere- I'd be rent and mortgage free , is this possible?
I've seen some beautiful park homes but many aren't year round living . Does year round living in a park home exist?
I could move anywhere. Preferably somewhere beautiful. Lakes? Cumbria? Devon?

OP posts:
Oakbeam · 15/12/2022 00:47

One of my relatives did this after he was widowed. So, yes it is possible to do. There were site fees to pay though.

WhereYouLeftIt · 15/12/2022 00:51

I would not consider a park home.

Even apart from the all year round issue, I believe many of them have clauses in the contract that mean you can only sell them back to the company, you can't sell them on the open market. And generally, the company will only pay you buttons. You might as well just put a match to your money.

"I'm now in process of divorce, but I want the marital home to go to the kids and I don't want to turf my soon to be ex dh of 31 years out of the house - he will not get a new mortgage."
If your children would rather have an inheritance than have their mother have a secure roof over her head, then you have raised some right selfish little bastards. Have you? And why are you more bothered to secure your STBX's home than your own? I think you need to consider properly what your priorities should be.

Original poster
stillvicarinatutu · 15/12/2022 01:15

I've seen some park homes on right move - so they can't all be restricted to the company selling them?

Saw one in Cumbria , beautiful 2 bed , all year round , well within my pensionable budget.

OP posts:
Spliffle · 15/12/2022 01:25

I heard on MN in the past that these homes need to be replaced every so many years, like 10 or 15? Do check the legal stuff to see if there are any rules around this. I've also heard they have high service charges. They do look nice though.

Original poster
stillvicarinatutu · 15/12/2022 01:59

I only need a home that's rent free for the duration of my life - if I can keep the marital home for the kids that's fine . I'm not bothered if the park home goes with me.

OP posts:
Original poster
stillvicarinatutu · 15/12/2022 02:04

And I could live somewhere beautiful.

Rent and mortgage free. Keep the marital home for the kids , keep the ex in a home . Win win .

OP posts:
custardbear · 15/12/2022 02:12

stillvicarinatutu · 15/12/2022 02:04

And I could live somewhere beautiful.

Rent and mortgage free. Keep the marital home for the kids , keep the ex in a home . Win win .

Sounds like everyone else is benefitting except you! It'll be cold in winter and hot in summer I'd presume

Cuppa2sugars · 15/12/2022 02:14

My friend is living in a park home permantly. The manager is on site and looks after her in this icy weather. Offers to take her to the supermarket as she’s up on a hill. But she’s had a burst pipe and the lodge buffers in the high winds.

Original poster
stillvicarinatutu · 15/12/2022 02:15

I'm fine with the thought of this - it's a win for us all .

OP posts:
Original poster
stillvicarinatutu · 15/12/2022 02:19

I aren't turfing the man I've known for 40 years out of his home . My kids would never speak to me again for one thing . He's going to have to work longer than me . He can't get another mortgage.
My pension would buy me a lovely park home , with 2 beds , and I'd be mortgage and rent free apart from site fees . The house would go to the kids , ex wouldn't be homeless, and not would I . It seems like a sensible idea.

OP posts:
Original poster
stillvicarinatutu · 15/12/2022 02:34

And no I haven't raised selfish little bastards- not by a long chalk

But I never had any inheritance or help - and I would like to ensure they do . That's all .

OP posts:
NewBootsAndRanty · 15/12/2022 02:42

What happens to the house inheritance if you/your ex need care when you're older?

Wasywasydoodah · 15/12/2022 02:47

The issue is what happens when the caravan has to be replaced. Either due to park rules, or disrepair. Then you’re hit with a massive bill.

So, say in 20 years time, you’re 80. Park rules might say you must get a new caravan that you must buy from them. What happens?

ContadoraExplorer · 15/12/2022 03:06

Wasywasydoodah · 15/12/2022 02:47

The issue is what happens when the caravan has to be replaced. Either due to park rules, or disrepair. Then you’re hit with a massive bill.

So, say in 20 years time, you’re 80. Park rules might say you must get a new caravan that you must buy from them. What happens?

Agree with this and as PP's have said, what happens if you or exDH need care in the future? The house becoming an inheritance is not guaranteed.

I know of a couple of people who have retired to similar and they seem to be happy but I'd definitely recommend looking into both of these scenarios because neither are inconceivable and could become a pretty expensive issue for you.

Original poster
stillvicarinatutu · 15/12/2022 03:28

I'll take advice.

I'd be hoping we can put the house in the kids name .

And I'd be buying a new park home can't see it needing replacement after 20 years.

OP posts:
ContadoraExplorer · 15/12/2022 04:37

stillvicarinatutu · 15/12/2022 03:28

I'll take advice.

I'd be hoping we can put the house in the kids name .

And I'd be buying a new park home can't see it needing replacement after 20 years.

Doesn't matter on some sites, they will have specific rules about the age of a home and the expectation will be that it is replaced at X age or moved to different site.

www.haven.com/caravans-for-sale/advice-inspiration/how-long-does-a-static-caravan-last

CheapWine · 15/12/2022 04:52

Have you seen the ground/site rent on some of these homes? Many of those in parts of the Lakes are ten grand a year. That’s like buying a house a paying rent on it.

also, you frequently have to vacate the home for several weeks a year usually during the winter.

i don’t think this is very well planned at all.

LoisLane22 · 15/12/2022 04:59

stillvicarinatutu · 15/12/2022 03:28

I'll take advice.

I'd be hoping we can put the house in the kids name .

And I'd be buying a new park home can't see it needing replacement after 20 years.

There are complicated rules around intentional deprivation of assets to avoid care home fees. It's not as simple as putting it in your kids name.

You've got good intentions but none of this is as simple as you think.

Could the marital home be sold and fund 2 smaller flats perhaps?

Thefriendlyone · 15/12/2022 05:04

Op can you link to the kind of thing? As park homes vary, you can get the sort of static caravan in a caravan park, that a pp posted a link to and I think many people think uou mean or you can get something like the below. Which is year round living and very different

www.royalelife.com/our-developments/oakwood-court-bordon/

boobot1 · 15/12/2022 05:10

stillvicarinatutu · 15/12/2022 02:34

And no I haven't raised selfish little bastards- not by a long chalk

But I never had any inheritance or help - and I would like to ensure they do . That's all .

In the north east you could get a bricks and mortar bungalow for less than a park home, and leave it to the kids too.

boobot1 · 15/12/2022 05:19

There are loads if you look about in northumberland which is beautiful.

Mummyoflittledragon · 15/12/2022 05:20

Please stop being a martyr. It should be your ex, who leaves and you, who returns seeing as you’ve been paying for the house all these years.

I would suggest you use the lump sum to buy him the park home because the only way you can ensure the house goes to your children is if you keep control of it. Your ex could remarry and end up leaving the lot to his new wife.

Londonnight · 15/12/2022 05:28

My parents have lived in a park home for over 25 years. It is not a caravan. They live in it all year round. It is really warm in the winter, can be a bit hot in the summer. It is really large and has a big garden.

My parents arrange their own energy company, but some park homes the owner does this and you pay them.
There can be some clauses on park homes that you sell back to the owner, so you do need to check this out. There will be maintenance costs each year.
I would happily live in one if I could afford it.

dreamersdown · 15/12/2022 05:30

I think some people on here think you’re talking about static caravans, instead of park homes.

Yes you can absolutely do this. My mums friend lives in a park home near Oxford and it’s beautiful. Once you’re inside you’d have no idea it was a park home! Very cosy. She pays I believe about £40 a week in services (water and sewerage) and has a lovely community.