Buying Advice: Why buy a park home?
Going for a park home can enable you to create a complete new lifestyle, by freeing up enough money for a park home and a holiday home, too! It’s rather like release of equity, but not as we traditionally know it.
A decision to go for park home living isn’t necessarily driven by financial considerations – there are many other advantages – but money can be a key driver. You can release capital by buying a park home for less money than the value of your house – and that can enable you to begin a whole new lifestyle. In essence, this is about releasing equity – but there’s a world of difference between park home opportunities and what we may think of as equity release.
In the park home arena, equity release means something totally different. You sell your house – and, in doing so, release equity. Straightforward. Then you buy a park home, for less money than the value of your former residence. So, you have a potentially large amount of equity available for other things. Park homes can – depending on area – be bought for £200,000 or even quite a lot less than that. If you are selling a house in an area of high property prices, you could, potentially, end up with a lot of money available to squirrel away.
So, what would you do with the extra money?… First, the abstract things: financial security, and absence of the need to strictly control your spending budget, perhaps. Now, the big-ticket items. A new car, perhaps. Exotic holidays? Or, you could think home shores, and go for a super luxury motorhome in which to explore Britain. The point is, buying a park home can open up a whole new lifestyle.
There’s something else: have you thought about buying a holiday home? You could get a new lifestyle in your main-residence park home, plus a holiday home, so that you can divide your time between the two, as the mood takes you. You get a lovely home, equipped with luxury kitchen, en suite, superb bathroom, all expertly interior-designed and gorgeous – and it will cost you less to run and maintain than a conventional house. And you also get money to enjoy, for a leisure home, perhaps…
Tempted? Let’s look at some of the other advantages of going for park home living. Park home developments are known for being friendly environments. Residents are all semi-retired or retired, so they are home-based and have time to talk to neighbours.
A big advantage of park home estates is security. Many are gated communities. And all have the advantage over other types of housing estates, that park residents tend to watch out for each other. So there’s a generally relaxed atmosphere. Many are in gorgeous locations. Another plus-point is about gardens. Park home gardens are easy to maintain. If you’re moving from a home with a sizeable garden, the task of keeping trees, bushes, creeping ivy and even brambles under control can be enormous. Compare that with a garden designed for easy maintenance, perhaps with attractive gravel areas garnished with pots for foliage and flowers. Maybe artificial grass – so no more lawn mowing.
And then there’s the obvious – and big – advantage: all park homes are single-storey dwellings. That means they’re easier to heat and keep warm. They’re also highly insulated, meaning heating costs are low. It also means no stairs to climb. So, if you are thinking ahead to advancing years when you may begin to find stairs a challenge, a park home future-proofs you from that.