Money & Rights

Is park life right for you?

Park homes are popular with retired people for a host of reasons. David Brock, managing director of park home warranty provider Goldshield, highlights their benefits

Retirement brings he opportunity for new experiences, including changing your home to accommodate your needs. Park homes are a popular choice for many.

Park homes are placed on a patch of land that's owned by either the local authority or a private park owner, which is leased to you via a pitch fee.

With UK ark sites covering many regions, there's plenty of freedom for being able to pick a location that's convenient for you.

Best of all, parks are usually situated away from the buzz from the buzz of the inner city, contributing to a restful and relaxing environment for your retirement.

Parks can also be beneficial to those wanting to escape over-populated neighbourhoods, as they have a much lower capacity for the number of homes they can git on heir land than your typical street does.

The cost of new park homes typically ranges from £70,000 to £40,000, while pre-owned homes are available from around £50,000. Prices depend on the location, size and age of the property, but they will tend to be less expensive than a comparable bricks-and-mortar home. Downsizing a park home can therefore leave you while a larger chunk of equity, which can be used to fund your retirement.

The costs of utilities and Council Tax are also relatively inexpensive, so you can spend more of your pension on the grandchildren or holidays instead.

The process of downsizing can also help towards reduced consumption which will help  you to save money: if you have nowhere to put it, you'll be less tempted to buy it. 

Residential parks are also great if you have safety and security concerns. With most parks being in a gated community, having key fobs for entry and visitor sign-in books, there;s a sense of security that may not be felt in other neighbourhoods. With the parks usually being in more secluded areas, neighbours tend to look out for each other more than they would be able to in larger neighbourhoods, giving you peace of mind. Additionally, as some retired people take this time to go on once-in-a-lifetime trips, having the ability to leave your home in a secure environment will save you a bundle of worries.

As park homes are very popular with the retired, there's a chance to meet and co-exist with a like-minded people. not only is this great for those wanting a very quiet and relaxed atmosphere, but it also gives you a chance to mingle and get as involved as you want within the park community.

There are always lots of things going on and new people to meet, which makes it especially appealing for people not living with a partner. The park will also enforce its own rules that residents will have to adhere to, so there iwll be a sense of understanding among the community, ensuring minimal disruption to anyone's peaceful living.

Park homes are a smart choice if you have mobility problems: they are usually single-storey, and often designed with accessibility in mind. Plus, as you get older you may not have the energy or strength to maintain a larger space, so moving to a park home where everything is more compact will be less tiring and more convenient.

With security, community and lower running costs, park homes can be attractive to many prospective buyers seeking tranquility.

Find out more

Age UK has advice on living in a park home at: www.ageuk.org.uk/informationadvice/care/housing-options/park-homes/

For a list of park homes to rent or buy in your area, log on to: www.parkhomes.co.uk

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