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Location: South East UK
Joined: Mar 2005
Posts: 27,437
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Originally Posted by
Tangutica
That is true and a lot of parks down in the West Country only allow them to be lived in for about 10 months of the year because they are not 'residential' parks.
In reality people DO live on them (they just buzz off visiting for the off period - some don't bother) I don't know about holiday letting parks. I only have experience of residential ones. As well as my late Auntie I have a lifelong pal who has lived in one in Wokingham for more than 25 yrs. Renewed several times.
The pitfalls are well known which is why the Gov passed laws to try to tighten up and make things better for buyer owners.
Recent article 27 May 2013 on the subject here:
http://www.bbc.co.uk/news/uk-politics-22677508
It's all very new and I've no idea how it is working in practice yet.
This is very true Pat! Our park sell what they call "holiday homes" and yet every owner that has one, has it purely to live in all year round (cos it's a cheap way of living) OR they are well off enough to have it has their holiday home. In the park rules, they actually discourage people living there all the time, because of the rules they abide by, and you cannot let your holiday home out for more than 28 days at a time, but then some of the owners let their homes out for the entire year (11 months).
The guy who was renting mine wanted to purchase one privately that I had found for him, it was only £10K to HIM and it was a lovely van with central heating and double glazing. However, the park had offered the owner £5K and they were adamant they were gonna get it off her for that £5K and then sell it on to my buyer for the £15K that they wanted for it. This is how they make the majority of their dosh, by sales, not by the annual plot rents.
They put every obstacle in his and the owner's path that they could possibly, legally do, and when he added up all the little "extras" that he would have to pay on TOP of her £10K she wanted from him, it turns out it would actually cost him more to buy it privately, plus he would only have got the 10 year plot licence instead of the 20 years which the park would give him.
I can't really see any difference between a residential site than a holiday home site apart from the fact they charge more for their homes, they charge more for their plot rentals, purely because it's such a cheap way to live.
Once my park turns into a residential park, being open for the full 12 months of the year, the price of my vans will sky rocket, BUT, having said that, who will want to buy them when the park will do their utmost to make it as difficult as possible. I'm well in with the office bods and sales people up at my park, and I know how they work, i.e. for themselves and their company, and nobody else!
Knowing what I know now, I wouldn't touch one with a bargepole, UNLESS, it was my final destination, it had enough years left on it to see me out and I could afford to forego the initial outlay of it, cos that's what it's all about, once you pay your money, that's it, you can forget getting it back, and these people who put them up for sale like this are wasting their time, unless they find some poor victim who comes along without doing their homework!
I don't mind, cos we had the money to invest and I will get it back but double in 5 years' time, which the banks won't do for my investment, but you can't do it in halves, you have to commit one way or t'other.