Many people think about downsizing into a flexible park home once they approach retirement. The attraction of having an easier to manage property that is affordable and which offers a great lifestyle is appealing, but there are also more negative perceptions about this way of living. So how can you separate fact from fiction?
Firstly, it’s worth knowing that the park home industry is completely different to how it used to be a couple of decades ago. But three myths still persist.
Hidden Costs
Park homes can seem to be too good to be true because they are affordable, attractive and offer a great lifestyle. So people think that there must be hidden costs that justify the low purchase price. Does this mean that you’ll pay more than you expected as a park home owner? Yes, you’ll have to pay for utilities, but park homes are smaller than brick equivalents, so they cost less to heat and light. Park operators cannot add a margin to your bill. You’ll also have to pay a low bracket of council tax – typically band A. The other fee is a monthly site fee for maintenance – similar to an apartment service fee.
Poorly Made
When looking at park homes for sale Gloucestershire wide, such as at www.parkhomelife.com/park_orchardtwigworth.aspx, you may worry about their quality. Some people think that they are poorly made, and in the past it is true that quality varied. However, today’s homes are built to strict specifications regulated by BS3632. Only park homes are built to this – other types of residential holiday home can be built to their own standards, as can regular homes. You will need to maintain your park home though with regular upkeep, as you would with a brick home.
They Lose Their Value
Park home values fluctuate in the same way that the regular property market does. The home’s age, condition, size and location will factor into the price, and the underlying land is the most important factor in determining the price. With land prices rising in the UK, the price of a park home looks set to be maintained or even increase with their popularity rising. Demand tends to lead to rising values, although the park home market will reflect what is happening in the UK property market as a whole.