Who the hell would buy this - am I missing something?

[soupyspoon]

This is probably AIBU really but look at this 'property'

I often go strolling around Rightmove, random places throughout the country for no good reason. I like to see whats about, different types of property, what you can get from your money. Its made me quite well informed about prices and types of property around the country

Today I spot this, 130k for a park home with a lease that is only 11 years long AND 7k a year fees!!!

So around 200k to live there for 11 years

Tell me how that would work, who would buy this, for what reason?

https://www.rightmove.co.uk/properties/164789810#/?channel=RES_BUY

As park homes go it’s quite a nice one. Do you think they’d expect buyers to extend the lease? Is it possible to get that agreed before purchase? I have no idea how leaseholds work but agreed, if it can’t be extended, that’s a mad cost for 11years.

Its really nice, I really like it, but it does appear to be in the middle of nowhere

Lovely size

But 7k a year as well, even if you did extend the lease.

No one is buying it! They've already dropped the price and still no takers.
I can't see anyone buying it with those fees and a lease that needs extending as well.

It is indeed in the middle of nowhere, and just up the road from me it’s attached to a nice little pub though! I walk there with my dog sometimes.

Absolutely fuck all else around it. Lots of very expensive park homes around here, some of them cost as much as my bloody house!

Maybe if you don't expect to live more than 9 or 10 years, have enough to buy it & pay maintenance but no desire to leave cash to someone else? TBH, spending in your latter years seems like a good choice.

What are the 7k fees for? madness

That's very near me. Beautiful countryside but not much else! Calling it 'Canterbury' is a stretch, too. It's very nice as far as park homes go but agree it seems an astonishing amount of money to live on a caravan park for 10 years.

The EAs are famously twats, though (ask me how I know...)

Yes thats a good question, what are the fees for?

Jumped on to have a look as Canterbury is near me and that is definately not the Canterbury area

It is however within easy driving of the coast and some nice villages
If you want fresh air and walks and money isn’t an issue it’s lovely
( let’s face it for those who downsize or have a good pension it’s not expensive )

It's very close to one river/stream (the Gutter?) and quite close also to the river Stour. I'd be looking into special flood insurance if I was interested.

Maybe there are clauses in the lease preventing it, but I think I'd rent it out.

It's very nice, but isolated which is what some people want, but surely renting somewhere similar would be a better bet for those people.

I think though, (could be wrong) that these park home sites have lots of restrictions and covenants. That + the short lease is not a runner really.

Some thing wrong with my mind. I thought at first glance picture 12 was a gold stripper pole, thinking 'well thats a surprise' among the florals and decals lol.

If the yearly service charge was at least half of this, I would buy it

I don't actually know what a park home is.

From the outside it looks like one of those posh static caravans. In a couple of the photos you can see in the background similar homes.
Maybe that is what it is and the 7k yearly fee is for its pitch in the field/park/camp its in.