Park homes are factory-built homes assembled on site in a mobile home park. They offer a number of advantages to buyers, but they aren’t without their downsides. Let’s look at the pros and cons of park homes. We’ll also share a few observations that may help you avoid buying a property that becomes the center of your personal horror story.
The Pros of Living in Park Homes
One of the biggest points in favor of a park home is affordability. Those who can’t afford a classic cottage can afford to buy a residential park home. Because the park owner owns the land while you own the house, you’re typically paying the lowest possible council tax, too.
Retiring to a park home is popular because it frees up so much money. Sell your family home and move into something that costs far less. Then use the freed up home equity to pay your living expenses.
Park homes are typically low maintenance. Well-designed parks have little upkeep, and most of that is done by maintenance staff, not you. This makes them an ideal vacation property. This also makes park homes attractive to retirees who don’t want to have to cut the grass or weed the garden. Depending on where you live, they may handle pest control, building repairs and security. However, you may be able to start a garden if you wish.
Unlike a condo on the beach, you’re staying in a single family detached home that provides privacy. You’ll have more space, too, and you’ll be able to walk around outside.
Most park homes are only one story high. That’s due to the structural limitations of mobile home construction. Yet this makes the park home accessible to those with limited mobility. There may or may not be stairs to enter the home, but you don’t have to climb more stairs to reach the bedroom. The flat layout and straightforward floor plan makes it easy to get from one part of the unit to another.
A side benefit of parks is that they create a sense of community. Everyone living there shares the community amenities, and the design tends to facilitate interactions. Whether that is doing laundry in the laundry mat or visiting the shop. Because you aren’t crammed into apartments or an assisted living facility, you’ll have just enough neighbors to get to know but not so many you feel lost in the crowd.
The Cons of Living in Park Homes
Mobile homes range from structures slightly better from a camper van to something that rivals a modern, middle class home. Well-built homes can survive any weather and retain their value. However, most park homes are not in this category. This means their value goes down over time, whereas the average brick home appreciates.
Observations about Park Homes
The quality of life in the park depends on the management and the neighbors. Management determines what amenities they may offer, whether it is a well-maintained clubhouse, playgrounds and shopping. It is their decision whether or not to set up a communal hot tub and swimming pool, and the usability of these amenities depends on their continual care – or lack thereof. Management also determines who their target market and enforces the rules. If they promote the park to vacationers and retirees, you’ll enjoy the stay as long as someone doesn’t throw a wild party. If they promote the park to partiers or those who are on the edge of homelessness, you may not want to return to the park though you own the property.
Image by Michael Gaida from Pixabay