RESIDENTIAL PARK HOME LIVING FAQs
How much is it to buy a residential park home?
The value of a park home is calculated by adding up two variables – the value of the home and its interiors and the land it’s on. The size, make and model of the home will all affect its value, which is often called the ‘un-sited’ or ‘ex-works’ price of the home.
Once the park home is placed on a site, the location of the plot, the residential park and local amenities will all affect the price.
Are there any monthly costs?
Once you move into your park home you’ll need to pay a pitch fee, which covers the area where your home is located. This varies depending on the park, and includes maintenance for things like roads and streetlights.
Other costs include:
Council tax – usually this is at the lowest Band (A).
Electricity – this is usually half the price of a traditional house.
Gas – if no mains gas is available LPG gas is used which can be more expensive than a traditional house. However, this is usually offset by the cheaper cost of electricity.
Water – this is usually metered and charges are based on consumption and rates approved by OFWAT.
As our park homes are modern, they are well insulated and more energy efficient than traditional homes. So the amount of gas and electricity you use is normally less.
Will my pitch fee go up?
Each year the pitch fee will increase according to the rate of inflation. It could go up by more than that if considerable investment has been made to improve the residential park and providing you have been fully informed about those improvements.
We adhere to strict rules that govern pitch fee increases, which means they never go up unfairly.
Can I leave a park home in my will?
If you want you can leave your park home to someone in a will. Husbands, wives and partners living in the home already can stay there, but with the park home now in their name. If the executor is too young to live on the park, they can sell it and 10% transfer fee will be payable to the park owner.
If someone not already living on the park inherits the home, they can move in providing they follow site rules and terms of the written agreement.
Anyone who inherits the home will need to pay the pitch fee and any bills.
Will I own the plot or land?
Although you own the park home, you do not own the land it’s on as they’re not freehold properties. However, the licence for the land lasts for the lifetime of the home, which is usually 50-60 years.
Can I use a park home as my second home?
No. A park home needs to be your “only or main residence” which is a legal requirement in the Mobile Homes Act.
Why do manufacturer’s prices vary?
The difference is usually in the construction of the base for the home and connecting it to services. The value of the land is also an important factor in the overall cost. Both vary significantly from one location to another.
Why is there a 10% transfer fee when I want to sell my park home?
With any park home the plot and the amenities of the park and the increasing value of the land add to the resale value of the home. The transfer fee reflects that and pays the park owner for a share of that increased value.
Are pets and children allowed on the residential park?
Due to the age limits on our parks, children are unfortunately not allowed to live on the park. However, they are welcome to visit so long as they’re not a nuisance to other residents.
Pets are allowed on our parks. Residents on all parks are allowed one dog, one cat and any house pets that will not cause a nuisance to other residents.
Can I buy a previously owned park home?
Every now and again a park home will become available. This will be a private transaction between the vendor and purchaser. If you’re buying a home that’s more than 10-years-old we recommend carrying out a full survey.
How is a park home different from a traditional house?
Park homes are constructed differently to a traditional house and are usually raised 1-2 foot off the ground to provide access to underneath the home and surrounded with a brick skirting. However, they look and feel just like a bungalow.
Most new park homes come with gas central heating, double glazing and contemporary interiors and have all the regular services such as phone lines and cable TV.
Will my park home hold its value?
As the value of the land increases so will the value of your park home. However, park homes do have a 50-60 year lifespan and therefore the value of the home itself depreciates over time. Traditionally land prices rise faster than the park homes depreciate, meaning the overall value increases over time. However, this cannot be guaranteed and a park home should not be considered primarily as an investment purchase.
How long does a Park Home last?
All our park home manufacturers are members of the National Park Homes Council (NPHC). This means they are built to very high standards and come with a 10 year warranty. Since the technology used in new park homes has improved significantly over the years, they are expected to require little maintenance in the first 10 years. Followed by external painting every 3 to 4 years and possibly new roofing or cladding after 20 years. However, there are many park homes on our residential parks that are over 40-years-old and are in excellent condition.
Can I live in a park home 365 days a year?
Residential parks require that all park homes are the homeowner’s main residence, meaning you can live there all year round.
Can I sell my park home?
Park homes can be sold on the open market as long as the park owner approves the person(s) buying (they must have a valid reason for doing so).
The park owner would also need to be told the price the home will be sold at as they are entitled to a 10% transfer fee.
The homeowner may enlist the help of local estate agents or other marketing channels in addition to the park owner. However, Estate Agents’ fees are payable on top of the transfer fee due to the park owner.
If you have any other questions about our residential park homes, please feel free to contact us directly for more information.