Is buying a park home right for me?

The affordability of park homes makes them an appealing option for people wanting to downsize or access money tied up in their property. If it’s an option you’re considering, this article might help.

With around 100,000 park homes available to be lived in across the UK, there’s a huge amount of choice. As park homes are a lot cheaper than conventional buildings, you might be able to live in an area that would otherwise be too expensive.

But affordability isn’t the only benefit of living in a park home. A park home:

  • Is easy to keep clean and maintain
  • Is usually situated close to other, similar homes

Moving into a park home means you’ll become part of a community. There are often communal areas and site activities which create plenty of opportunities to build close friendships. If you’re someone who enjoys being sociable and values the security of living near other people, a park home is definitely worth considering.

Park homes are usually single storey homes without any stairs. This can be really helpful if you have any mobility issues.

For some people, a park home is ideal and it allows them to live the kind of life they want to. However, park homes don’t suit everyone. There are some things you’ll want to consider before moving into a park home yourself.

Will it suit your lifestyle?

When you’re considering buying a park home, you might want to ask yourself questions such as:

  • Would I want to live there all year round?
  • What facilities are there on site and nearby?
  • How easy is it to get to the nearest shops?
  • Does the site allow pets?
  • Can I imagine living there?

The sites that park homes are situated on often have rules about what residents can and cannot do. Before you buy a park home, make sure you read these rules. Do they fit in with how you want to live?

What are the legal considerations?

The main difference between a park home and a regular building is that you’ll own the home but not the land it’s situated on. Before you buy a park home, it’s important to make sure you understand the terms of your agreement with the site owner, as well as the rights and obligations you’ll have as a resident.

The National Association of Park Home Residents (NAPHR) is a voluntary organisation which offers advice for park home residents. You can find a lot of really helpful information about buying a park home on their website.

How much does it cost to live in a park home?

The cost of buying a park home varies depending on size, location and whether you’re buying a brand-new home or one that someone has lived in before.

After buying a park home, you’ll need to remember to budget for things like:

  • Water, gas and electricity
  • Council tax
  • Service charges to maintain communal areas
  • Insurance

Lifesure are specialists in helping people find the right insurance for their park home. We work closely with organisations like the NAPHR to make sure we understand the needs of park home residents. If you do decide to buy a park home, you’ll be able to speak to someone who will take the time to understand your needs. We’ll then use our experience to research different insurance policies and find something that truly meets your needs.

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