There are some 70,000 park homes in the United Kingdom sited on some 2,000 licensed residential parks. The vast majority of homes are owned by retired and semi retired people and many of the parks are specifically dedicated as retirement parks.
Traditionally the parks have been family owned and managed but increasingly parks are being acquired by specialist park home operators who may own as many as 30 or 40 parks, these operators include for example Berkeley Parks, Britannia Parks, Saunders Parks and Tingdene Parks.
There is no doubt that the Park Home Lifestyle is ideally suited to older people. The homes are single story and easily maintained, running costs should be lower than a traditional home and most homes should be in the lowest Council Tax bracket. In additions gardens are generally level, small and easy to maintain whilst still offering those who love gardening an opportunity to pursue their hobby. Importantly many parks engender a fantastic community spirit and because the homes tend to be occupied during the working day incidents of crime and anti social behaviour are very rare indeed; this helps to keep insurance premiums competitive.
Another very big attraction of park home living is the price. New sited homes can cost anything between £70,000 and £300,000 depending upon location, plot size, facilities and specification whilst second hand homes can be purchased for as little as £50,000. There is therefore a real opportunity to release equity by selling bricks and mortar and down sizing to a park home, so enabling you to enjoy retirement and may be purchase a holiday property at home or abroad or take the occasional cruise!
The modern park home is built to a very high specification with all mod cons, they really are stunning. Another great feature too is that most manufacturers offer you the chance to design your own home both in terms of rooms and spacing and style and colour. Your home really can be unique. Park Homes are built on a chassis in a factory and delivered to the park on the back of a low loader, this may sound a bit worrying but don’t worry, it is a tried and tested formula! We would recommend though that you do a factory tour and see for yourself how these homes are constructed, it is well worthwhile.
As well as the big difference in construction compared to ‘bricks and mortar’ there is a big difference too in the ownership structure which is traditionally freehold or leasehold. When buying a sited park home you are purchasing the home itself and its associated outbuildings, fixtures and fittings but you are not purchasing the plot itself, or the concrete hard standing, which remains in the ownership of the park owner and for which you will pay a monthly ground rent, the amount will vary from park to park. You will also have a contract or site agreement between you and the park owner issued under the terms of the Mobile Homes Act 1983. The site owner is obliged to give you a written agreement at least 28 days before purchase; your rights are contained within the Implied Terms (part III) and must include security of tenure and the right to sell on to a third party. The agreement will also contain Express Terms, agreed between you and the park owner. You should be aware that when you do sell the park owner is entitled to receive a commission on the sale of up to 10%, a good tip here is to negotiate with the site owner prior to purchase an agreed level of commission upon sale, you should be in a strong position to agree a much reduced level of commission before purchase than after!
We strongly recommend that you get a copy of a free Government published booklet ‘Mobile Homes: A Guide for Residents and Site Owners’, call 0870 1226 236 or visit www.communities.gov.uk. When buying a park home you should seriously considering using a solicitor and if the home is second hand get a survey, there are a number of specialist park home surveyors.
It is clearly evident that there are huge differences between owning and living in a brick built property and owning and living in a park home, it is therefore essential to do thorough research particularly when it comes to selecting the park on which to live and choosing your home. We cannot over estimate the value and importance of research.
Generally speaking the location of the park and its look and feel is critical and we strongly recommend that you visit as many parks as possible before deciding, this will give you a real feel for the park home lifestyle. Having chosen your preferred park visit it on at least a couple of occasions, on your own and not in the company of the park owner, and chat to as many residents as possible to hear first hand what it is like to live on that park and how they get on with the park owner. Critical to your future happiness will be the relationship you have with the park owner so it is important that you like them, first hand feed back from residents on the park will be very worthwhile – be it good or bad!
Having chosen your park and plot the next step is to choose your home from one of the dozen or so manufacturers, unless of course you are purchasing a sited show home. The park owner may have a preferred supplier but there is so much choice that it would be better for you to visit the different manufacturers in person to see what they have to offer, whilst the basic construction methods and materials will be the same there will be a real choice of layout, design and importantly price, remember however that you will not be able to purchase direct from the manufacturer unless you have your own land, all purchases will be via the park owner.
All homes should come with a 12 month manufacturers warranty but some will also have a 10 year extended warranty such as Gold Shield or Platinum. These warranties however may only apply if the park upon which the home is to be sited is a member of the warranty scheme, some schemes will be insurance backed and may include liquidation cover should the manufacturer go bust.
Make sure you carefully read and understand the site agreement, especially your obligations and any onerous terms. Ensure the park and your plot has a valid planning permission, it has been known for homes to be sited on the edge of a park where planning permission has not been granted. Check too that the park has a 12 month residential licence; the Local Authority will confirm this. Check out the pitch fees and the way in which public utilities are supplied and paid for ie direct with the supplier or via the park owner. As well as chatting to residents speak to one of the national residents’ associations who have huge knowledge and experience particularly about park owners, we suggest IPHAS – www.iphas.co.uk or NAPHR – www.naphr.org. And for more information consider subscribing to one of the specialist park home magazines.
You should also consider visiting the World of Park & Leisure Homes Show at Stoneleigh Park – www.parkhomeandleisure.co.uk, to see all the latest homes from all the manufacturers and to talk to park owners and others in the industry about finance and insurance for example.
And talking of insurance you need look no further than Towergate Bakers, who introduced the very first bespoke park home insurance policy some 40 years ago and remain one of the leading park home insurers, visit www.towergateinsurance.co.uk
Without doubt park home living can be fantastic, it could be the best decision you have ever made, the key is to make the right choice and do your research...
Good Luck !
