Buying a park home is an attractive option for many people. There are both advantages and disadvantages to investing in this type of property; however, for many, the benefits far outweigh the negatives. Here are some factors to consider before making the decision to invest in a park home.
Check out your ideal location
There are park homes for sale throughout the country. Once you have decided on the general location, you should carry out some research into the actual area in which the residential park you are considering is located. If it is an unfamiliar area, you may want to find out from local people what leisure facilities are available, whether transport links are efficient, and general information about the community.
Research the park itself
Speaking to people who are resident will help you to find out whether they are generally satisfied with the park. Ask questions about how easy it is to arrange repairs and whether there are any problems with the area. It is also important to find out whether the park has a licence that will enable you to live on the site for the whole year.
You may be considering buying a park home with the idea of letting it out for parts of the year until you retire and can take up residence full time. If this is the case, it is important to contact the park management, as it is unusual for subletting to be allowed.
What is the difference between buying a park home and buying a traditional home?
If you are looking for park homes for sale in England there is a useful fact sheet available from the government. You will need to decide whether you prefer to invest in a pre-owned park home or want to order a new, custom-built unit from the manufacturer.
It is a surprisingly straightforward process to buy a park home. Unlike with traditional homes, you do not even need to engage a solicitor, as the manager or owner of the park will normally be able to guide you through the necessary steps.
You will not be liable for stamp duty on the purchase of a park home, as you do not own the land on which it stands.
Park homes can be the ideal lifestyle choice for many people.