What are the disadvantages of living in a park home?
While park homes are typically cheaper to buy, the ongoing costs can add up. Besides the ground rent, you may need to pay site fees for utilities, communal maintenance and security. These fees can rise annually, which could impact your budget over time. You can’t get a mortgage on a park home One of the most commonly stated disadvantages of buying a park home is that mortgages aren’t an option, so the standard buying process is different from that of a traditional home. If you want to buy a park home, you must fund it by alternative means.While park homes are typically cheaper to buy, the ongoing costs can add up. Besides the ground rent, you may need to pay site fees for utilities, communal maintenance and security. These fees can rise annually, which could impact your budget over time.These are just a few ideas to help keep costs down. At Parklands, park homes typically range from £180k and go up to £350k and beyond.
Can a park home be sold to pay for care in England?
Fortunately, park homes are classified as chattels (movable property), meaning the government cannot force their sale to cover care home costs. This allows residents to retain ownership and protect their assets for future generations. Park homes are neither leasehold nor freehold properties, meaning the land on which they are sited belongs to the site owner, not the resident.
Can you permanently live in a park home in the UK?
Before committing to living in a park home permanently, it is essential to ensure that the residential park has the appropriate site licence. A park with a residential site licence allows for permanent occupation, while a park with a holiday site licence only permits short-term stays. For those looking for year-round living, residential holiday parks offer a permanent residence option. Before purchasing a lodge—whether with us or elsewhere—it’s important to check the park’s licence and terms to ensure it suits your lifestyle.So, we wanted to share our expert knowledge with those who are wondering how to buy a holiday lodge and reveal the most important factors to consider. Holiday lodges have an average lifespan of 30 to 40 years, but this can be extended with proper maintenance and renovation over the decades.