Park home part exchange: what you need to know

Why buy a park home with part exchange?

Part exchanging your house for a residential park home makes the move speedier and easier than selling on the open market. It avoids hassles created by sales falling through, and other delays.

Part exchange schemes are offered by many park operators. There are specialist companies that offer this service, too. All of the schemes are designed to eliminate property sales uncertainties including chains collapsing and buyers pulling out of deals. Most of the schemes take care of the whole process, from valuation to key transfers.

What is a part exchange scheme?

Park home part exchange schemes arrange valuations with local estate agents who know the market in the relevant area. They take care of viewings, and, in many cases, there are no solicitors' fees to pay. Money transfers are organised for you. Some schemes even allow you to stay in your existing property for two weeks after completion, so that you don't have to move out of your previous home and into the park home on the same day.

Find part exchange services for park homes

One of the park home groups that offer a part exchange service is Wyldecrest Parks. Wyldecrest says, “In order to make your move onto one of our parks as smooth as possible, we can offer to buy your current property in part exchange for your new park home.”

This is how it works: you choose a residential park of your choice. You then choose a plot and decide on the home you want to purchase. After you have placed a deposit on your new home and confirmed you wish to proceed with Wyldecrest’s part exchange service, you will be asked to provide Wyldecrest with details of three local estate agents. Wyldecrest will then arrange for three agents to visit and provide to Wyldecrest the market value of your home. Wyldecrest will then put an offer to you for how much Wyldecrest Parks will buy your property for.

Another company that offers a part exchange scheme is Countrywide Park Homes & Luxury Lodges. Countrywide explains, “Moving home is a wonderful experience, but can be made stressful by all the planning, organisation and financial worries that go with it. This also brings the uncertainty of the sale completing. Because we understand this, we like to help make your move as seamless as possible. If you’re downsizing or changing lifestyle, you may have a property to sell. That’s why we are pleased to offer our 100% market value part exchange promise as an option on all of our residential bungalows and luxury lodges for sale.”

Real-life park home part exchange stories

Wickham Court – Nick and Tracie Venn

When Nick and Tracie Venn visited friends at the Wickham Court park home development near Fareham in Hampshire, they decided to move from their home in Portchester and join them. After initially trying to sell their house using an estate agent, they decided to use Quickmove Properties’ part exchange service.

Orchard Park – Tom and Marlene Tomkins

Tom and Marlene Tomkins moved to their Tingdene residential park home on Orchard Park, Tewkesbury, in 2018. Originally planning to buy a bespoke park home, they discovered that their preferred show home on the park had become available again and they didn't want to lose it.

The park owner, Park Home Life, recommended Quickmove Properties' part exchange service to secure it without the worry and delay of selling their existing home on the open market.

Are park homes worth buying?

Buying a residential park home isn’t just about purchasing a home; you are buying into a lifestyle. Most residential parks have a community feel, thanks to residents being of a similar age and stage in life. Being mostly retired or semi-retired, they have time to chat and make friends. That’s one aspect of park homes that makes park homes worth buying.

Another is that, in general, they cost much less than a bungalow of comparable size in any given area, so offer good value for money. And when you bear in mind that you are buying not just a park home but all of the appliances and furniture within it, this one-stop-shop purchase is very much worth buying.