Have you been considering moving into a park home now that you have retired? You may have heard that it is more affordable, easier to manage and nicer way to live….But you may have also heard some things which aren’t so great. These negative things could put you off from buying a park home. So what is the truth?
Sell My Group is here to tell you that park home living is a great option for those who are retired and the common myths that you hear just aren’t true nowadays. The park industry has evolved and adapted to be unrecognisable from what it was 30 years ago.
Which is why Sell My Group put together a list of the top three myths we have heard about park home living and tell you how it is. Making sure you are getting all of the facts before making one of your largest financial decisions.
Read on to discover the top three park home living myths we hear..
One of the most common things that people think about park homes is that they are too good to be true. Because one of the main selling points of park homes are their affordability a lot of people assume that there must be some hidden costs which make it more believable.
People often think that park owners add on subsidies to the final bill, meaning that park homeowners paying a lot more than they initially thought. This isn’t true, yes you will have to pay for electricity, water and gas. However, as the homes are typically small than traditional brick built construction properties, they are less to heat. Park operators are not allowed to add on any extra charges to a resident’s utility bill.
If the park home is your main residential home then you will have to pay council tax on it – Usually tax band ‘A’. Park homes are a much lower bracket than traditional homes so you will be saving money.
You will be also have to pay monthly site fees, for maintenance of the park. However, this wouldn’t be any different to living in an apartment where you will pay a service charge for the maintenance of communal are
The reason park homes appear to be cheaper to live in than a traditional brick built home is that they are!
As park homes are mainly hand made, in the past quality of build has varied and with everything, quality varied. However, over the last few years building quality of park homes has dramatically increased. Residential park homes are now built in aline with residential specifications. All Omar, Tingdene, Prestige and Homeseeker are of this standard. The BS3632 is the residential park specification.
Not all non-brick built buildings located on parks are built to the same quality as residential park homes. Holiday homes, whether lodges or static caravans aren’t for living in so don’t need the BS3632 specification. ‘Lumping together’ all homes as does a disservice park homes and possibly why park homes have had a reputation of being badly made.
It is important to remember that like any regular home, you own your park home and are responsible for any upkeep and maintenance – as in a regular home. It is up to you to upkeep these, just as you would with any normal house. Most of the maintenance required is similar to a regular house – a roof should last about forty years and the exterior paint should need a fresh cost every five.
People who haven’t done their research into park homes tend to hear stories about how quickly park homes lose their value. For obvious reasons, this can put buyers off – they don’t want to invest their money in something that they won’t see a return on.
Scare stories of park homes dramatically losing their value for no reason aren’t based on any kind of fact. There isn’t data to support these stories. The value of a park home value will fluctuate in the same way that residential property changes. The age of the house, the size, general state of the home and location, location (as the Americans would say) contribute to the overall price. Most of the value of a park home is linked to the value of the land it’s situated on. At the time of writing, land value is going up and up, meaning that the value of the a park home shouldn’t fall at all.
Infact, because park homes are rising in popularity among those who are retired, the demand is ever increasing. As long as park home sites are still in demand, the value will remain consistent and remain in line with the value of regular housing. This means that park homes don’t lose their value, unless the property market is in a decline – park home prices reflect the property market.
Park homes are a great option for retirement as they provide affordable, comfortable and peaceful community living. The homes are easier to maintain than regular homes, located in great places all over the UK and situated among lots of other people who are in the same situation. The many myths you hear about park home living aren’t true, and like all things that people don’t understand, there will be myths about it. But by doing your research and finding out a little bit more about them then you can easily see that there is no truth in these myths and that park homes are definitely an option you should consider for retirement.