What costs are involved in purchasing and owning a park home?
Modern park homes (sometimes known as mobile homes or residential caravans) are low-maintenance and energy efficient. Many costs will compare favourably with traditional housing. While some things are similar to buying bricks-and-mortar homes, others are slightly different.
Things you will need to consider when buying a park home:
- You are strongly advised to use the services of a solicitor when buying/selling - if the correct documentation is not completed, the sale could be null and void. Make sure you budget for solicitor's fees they should tell you how much it will cost before you engage them.
- It is advisable to employ a specialist surveyor if you are buying a used park home.
- Make sure that you are able to pay the pitch fees and Council Tax (which is usually in the lowest band) when required.
- Arrange for adequate insurance cover from the date that the home is transferred to you.
Legislation covering park homes
In May 2013, The Mobile Homes Act became law for park homes in England - this increased the levels of protection for park home owners, and also changed the buying and selling process. Government produced a new series of leaflets relating to this legislation; their guide to buying a park home can be accessed here.
Government's Park Home Working Group is looking for submissions from residents, park owners and other interested parties on any additional improvements that could be made - read more in the the Call for Evidence letter. Note: submissions must be 750 words or less and received by 29th May 2015.
Click here for more things you should know about owning a park home.