Park home for permanent residence

[stillvicarinatutu]

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?

Definitely worth serious investigation.

I believe currently you can give your property to your children during your lifetime (if no further benefit to yourself during following 7 years of your survival) without IHT if that’s applicable but who knows what the rules will be in future!

What you are thinking makes perfect sense to me. I don’t think you’re being a martyr, it sounds more like a creative solution to making things happen that are deeply valuable to you.

Be very careful and get a good lawyer for the purchase.
some of these site owners are sharks.

We have a static caravan , it’s on a family run site , it’s open to tourers too . Our pitch looks directly at the sea , we have a fenced garden and a shed . We had to get a new caravan via them when we took over the pitch . The rule here is as long as you keep everything well maintained then you can keep as long as you like . When we sell
, we give 10% to site . Our annual fees are about £4000. ( as best spot , others are less) Site is very well run , they are super helpful and it looks lovely. I can think off a dozen people at least who live there full time , and are very happy , they go abroad for the month closed . I’d happily live here if needed. In our road at home are proper retirement lodges , everyone Iv spoken to says they love it … but do have rules like no pets . I think their fees are similar. In this area you are not going to rent anything for less than £1000 a month . If my option was a lodge or rent , I’d risk my arm with a lodge . Good luck OP

We are staying here temporarily, might be worth a look. A lot of retired couples/singles , they have a nice little community going on.

www.rightmove.co.uk/properties/125511236

May sound like a good idea but tread very very carefully. This area of housing while clearly works out well for some, is probably the most unregulated area of housing of all. Due to the lack of regulations, site ownership often attracts a lot of rogues who can, and will make your life a misery.
It's not a case of just buying a park home. Monthly site fees can be extortionate as well as other outlays and ongoing expenses.
You may want to join this Facebook group - it will open your eyes and at least give you some ideas of potential pitfalls to look out for. www.facebook.com/groups/876562579214105/?ref=share

I’d go for a small house or bungalow in a cheaper but nice area, tbh. There are some lovely ones in the North East, for example - research the area carefully and you’d have a permanent home that no one can charge site fees for or demand you replace it.
More of a mixed community, too.

Look up holiday park action group.

Do not buy.

It can be done. My pil have lived on a 50+ park home site for the past 25 years. Their home is large and looks and feels like a normal bungalow when you are in it. There is nothing wrong with it and no talk about it having to be replaced. They would not live anywhere else. It is very insulated and warm. A little too warm in the summer but that’s the way they like it.
Make sure you are aware of any fees due though.

Worth considering but remember you don’t own the land, check out the company fully before you invest. Lots of sites many not allow the park home to be a permanent residence, and may “turn a blind eye” to park home owners living there full time, this is ok until there’s a change in management. Many do expect you to upgrade (buying through them of course) after a certain number of years. The fees can be very expensive. Just check it all out fully, so you don’t have a surprise later and know exactly what your obligations will be. Good luck OP.

Thanks- I obviously need to do some research but it seems like the most practical option for me as I don't want to be renting after retirement.

(Apart from ground rent / fees etc . )

My ex husbands solution is I just spend all my pension on rent then claim benefits! Clearly he's in cloud cuckoo land .

I'm trying to find a solution that benefits us all without too much disruption.

I've mentioned it to my adult ds who has gone tittle tattling back and ex dh is clearly panicking I'm goi g to force a sale or something so I'm in the dog house again .
However contact between ex and I has become virtually non existent, he's seeing someone else and I dont feel welcome to even visit the kids there - he's clammed up so I've just said we need a discussion, sort out the fincances and wills and sever ties in a way which works for both of us .

Seek legal advice before you give up anything. The OW could end up with a life interest, or similar, meaning your children would have to maintain, but couldn't sell the house

However contact between ex and I has become virtually non existent, he's seeing someone else and I dont feel welcome to even visit the kids there

And you're letting him have the house? 😲

Sell the house and buy two flats. Or he can get a park home if he can't afford a flat.

A park home could be really nice and near me in Devon there are several set ups which are lovely communities and well run. They are quite expensive though, 250,000 upwards.
So you may be better off with a small house.

So you are giving your house to your ex husband and his new girlfriend, are you insane?

You say you could move anywhere, then state, Lakes, Cumbria, Devon.
The Lakes are in Cumbria and Devon is at the other end of the country.
Are you just pulling random places from a hat?
You really need to brush up on your geography.

Look .

I am alone . I do t have any parents, or siblings, all I have are my children-adults now - but I cannot risk alienating them further .

I am not insane no. And to the helpful poster who says my geography is shit - don't comment if you have nothing useful to say .

Yes I'm plucking these places out of a hat . I might just stick a pin in a map . What's it got to do with you ? Are you paying ? No.

I am completely alone . The recent bout of pneumonia showed me that . I am now choosing to remain single and to that end , I need a plan to be self sufficient in older age . Without alienating everyone I love . You don't have to understand it or agree with it - I'm not asking for opinions on that - I was asking in the property section for advice about property.

The rest is up to me . Not a bunch of random strangers in the internet who know absolutely zero about what support I have , or my situation.

I aren't asking for marital advice .
To those who have replied with some helpful advice on park homes - thank you .

I don't know what your lump sum would be, but round here (East Ayrshire, not terribly scenic, but within easy reach) you could buy a decent bricks and mortar house for around the £100k mark, leaving a legacy. Have a look on rightmove using Kilmarnock as a base, 10 -15 miles distance.

Yes, it's possible to live in a nice park home, I have friends who do that in Lincolnshire. Very rural county and there are some nice sites, obviously not as pretty as Devon or the Lakes. They are nice homes, lovely supportive communities and you can live in them permanently for as long as you like. Go for the solution that suits you and your circumstances, I wish you the best of luck.

I know a friend of a friend who has done this. The lodge has to be replaced every 20 years. So it’s a gamble if you live beyond 80! Service charges are nearly 6k a year. No dependants so no one to inherit. All the residents are still waiting for the £400 government help with bills.

I don't intend to live past 80😂. Some dont have to be replaced - I just need to really do my research.

I know 2 separate women who live in park homes near me, in fact I was chatting to one the other day about how it works. She has to be out of hers for a month, I think it's mid Jan to mid feb, but there are parks with permanent residential licences so ideally you need to look for one of those. She's got an arrangement with a local pub that has rooms, where she stays for £30 per night for the month, so it costs her about £1k every year. She can go back to her park home during the day.

I was also going to say for the money you can buy bricks and mortar, but the advantages to a park home seem to be it's a community and the residents really look out for each other (I read your other thread), you get a detached property and there are rules and regs about behaviour so a smaller risk of antisocial behaviour. Beware of service charges however!

www.parkhomeassist.co.uk/advice-on-buying-a-park-home#:~:text=The%20fact%20the%20park%20has,residential%20parks%20all%20year%20round.

This site has lots of useful advice.

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

But when you were really ill a couple of weeks ago and needed urgent help neither of them would even contact you ?

I'm a divorce lawyer and a couple of of my clients have done this, I think it's a good idea and I would consider it myself in that situation. I would have thought you'd have to go for a permanent site rather than a touristy site. I know you can't get a mortgage on them but it sounds like you can cover it. Good luck!

You're being a dick