If you’re considering a move to a park home, you’ll probably want to do some research into them before making the final decision. Just like any property, there are pros and cons. As excited as you might be about a move to a new home, it’s important to understand what you’ll be getting and any negatives there might be. Here are some advantages and disadvantages of living in a park home:
Advantages
The main benefit of choosing a park home is the accessibility factor. These homes are all single storey and as such, are ideally suited to those with limited mobility or who are future proofing for retirement and want to remove the prospect of stairs in case of mobility issues.
Another big plus point is the fact that most of these homes are situated on specific sites or parks dedicated to just this type of housing and for people over the age of 50. This offers additional security and a greater feeling of living within a community. For details on Gloucester Park Homes, visit a site like http://www.parkhomelife.com/our-parks/orchard-park-homes-gloucester-gloucestershire
As they are generally smaller than a traditional bricks and mortar home, they cost far less to run in terms of maintenance and energy costs. This is an important consideration for those expecting to live on less during retirement.
Due to their single storey and smaller size, they are perfect for low maintenance for older people. There is less upkeep involved and less space to keep clean.
Some park homes are able to be relocated too so if you fancy moving to be closer to family, for example, you might be able to relocate to a site of your choice somewhere else in the country.
They are also exceptionally reasonably priced so you certainly get more for your money. These homes are neat and tidy, economical and make a great choice for many people as they age.
Disadvantages
Unlike traditional houses, park homes don’t tend to increase in value over time. They are a top choice for many older people but due to their construction they tend to depreciate over time and won’t last as long as a bricks and mortar home.
It is not possible to get a mortgage on a park home as the property is neither freehold or leasehold as the land is owned by the site owner. This means that a park home must be bought outright.
Although easier to maintain, there will still be maintenance that is often required annually. Be sure to read the site owner’s agreement so you’re aware of any responsibilities or requirements before buying. If the home is bought with any warranty scheme in place, there might also be requirements under that scheme for certain maintenance or the warranty will become void.
There will be commission payable if you make the decision to sell the park home.
As you can see, there are a great many reasons why park homes are popular for older residents and they can be ideal in retirement although is sensible to be aware of all the requirements before purchasing.
