David Brock is the Managing Director at the park home warranty provider GoldShield. Here, he discusses why you should consider a park home for your next property investment.
Making your next property investment is a big decision, so it’s important to get it right. Whether you’re wanting to keep it for yourself as a holiday house, or you’re looking to make some rental income off it, there are many reasons why you would be interested in getting another home.
Park homes are a popular option with many people due to their affordability, increased safety and security, and idyllic countryside locations. But, if you’re still stuck on deciding your next property move, here I’ll be sharing the top reasons you should be considering a park home.
A Park Home is a more affordable housing option
Traditional bricks-and-mortar homes can range in prices from a couple of hundred thousand to millions, depending on the size, location and facilities inside. And, while the cost of park home can vary according to a number of factors, the price you’ll pay for this type of property tends to be much cheaper. Brand-new models start from around £70,000, while pre-owned homes are available from approximately £50,000.
As park homes sit on sites which are rented out, you’ll have to pay a pitch fee to the owner to rent a space in your chosen plot. You’ll also have to pay for the electricity, gas and water you use which is monitored against the Office of the Gas and Electricity Market’s standards to ensure you’re not being overcharged. The council tax is also cheaper, with many park homes always being classified as the lowest council tax band.
There are plenty of Park Home site locations to choose from
Park homes are a particularly popular option for the elderly who are wanting to escape from busy city life and to head to a more peaceful environment. For this reason, many of the registered park sites around the UK are in areas with plenty of stunning scenery and opportunities to be close to nature.
Even if you’re not planning on living in your park home for a few years yet, buying one to keep as a holiday home means you’ll always have somewhere to retreat to for a weekend break. Plus, if you buy in a popular tourist location, you can rent it out to holiday goers — Devon, Cornwall or the stunning Northern Ireland counties of Antrim and Down are all popular locations for park home sites.
There’s a good sense of community in a Park Home
With all park home owners on the same site living in such a close proximity, it’s only natural that everybody will look out for each other. As well as the intimate environment contributing to this, the slightly older age demographic means that the people you live alongside are more likely to have similar hobbies and interests as you.
Some parks may even have a minimum age restriction so it’s possible to pick a location where the other residents will have the same moral principles, such as respecting each other’s space and being mindful of noise. This makes them a great option if you’d like to use your investment as a retirement home one day.
The park sites are safe and secure
As well as being around a whole host of like-minded people who will look out for you and your property, there are security measures in place by the park owner to keep everybody happy and safe. This can include security gates which are only accessible by key fobs, as well as having a record book that visitors must sign when they arrive and leave.
Some sites might not allow visitors for the safety of everybody, so it’s worth asking when you’re browsing for the perfect site. Many of these locations will also have CCTV to monitor what goes on within the site for complete peace of mind.
A Park Home are low maintenance options
A major advantage park homes have over traditional bricks-and-mortar houses are that they’re relatively low maintenance. This is mainly down to the fact that these are all one-storey buildings and so there is less for you to maintain, especially if you currently have or get any mobility problems in future.
These park homes are designed with longevity in mind, so you can expect yours to last for around 70–80 years or longer if properly maintained. Plus, as they usually use modern materials and innovative construction techniques, they’re made to be as simple to look after as possible.
If you’re struggling to decide on your next property investment, a park home could be the solution for you. Coming at a lower cost than its alternatives, and being a social and peaceful living choice, they make a great choice for holiday homes or lets, as well as being the perfect place to retire to one day.