Building standards
Park Homes are required by law to meet particularly high criteria (BS3632 standard). This helps to keep prices down and also helps people who do not wish to be involved in property maintenance. These homes, as previously said, are designed to high standards and frequently include eco-friendly elements, resulting in minimal operating expenses.
Energy efficiency
Well, they are extremely well insulated and typically quite energy efficient and sometimes are even more so than regular bricks and mortar houses. Some would imagine a park home to be colder and less energy efficient than a regular brick and mortar structure… but this is simply not the case. A park home is just as comfortable. Park homes, like brick and mortar structures, are constructed to a particular level of regulation.
Depreciation
Park Home’s depreciation normally follows the current property market trend.
No Solicitors Needed
While it is generally desirable, it is not essential to hire a solicitor because Park Homes are not recorded on the Land Registry and hence no conveyancing is required.
Ground Fees
Generally the park home you’ll own outright, but the plot of land it stands on will remain the property of the site owner. Requiring you to pay a monthly charge to cover the expense of renting their land. These pitch and service fees function similarly to ground rent and maintenance costs on typical leasehold buildings. Pitch prices will vary depending on the site but these fees cover the costs of administering the estate as well as the maintenance of community spaces, roads, and any other facilities.
Remember that after the time indicated in your Site Agreement expires, the site owner has the authority to raise the pitch costs or ask you to relocate your park home, but you may be in a position to challenge the increase if you believe it is unjustified. If you have a low income, you may be eligible for housing help to pay the cost of these expenses; for further information, contact your local council authority.
Utilities
The site owner manages the gas, electricity, water, and other amenities in a park home. While this may make paying your bills much easier, keep in mind that you will no longer have the same influence over which supplier you us for your utilities as you had previously, since the site owner will decide which supplier to choose. But, because site owners can only charge you the market cost for gas and electricity. So you don’t have to worry about these being unduly expensive. Your water supply will also be charged at market rates, plus a modest administrative fee.
