Is This property very Cheap or am I missing Something

I was looking at private properties to rent and came across this for sale. It seems very cheap especially with gardens like that or am I missing something.

http://www.rightmove.co.uk/property-...&premiumA=true

I wonder if the catch is that you can only live there 10 months of the year, that is sometimes in the small print on these types of property

It's a park home, and the site fees are usually pretty steep. My mil lives in one in Scotland and her site fees are around £3000 a year. She can't have a dog and has now been told once her cat dies she can't have another. Some of the rules and regulations are a bit draconian too.

Also I don't think they are mortgagable.

Incredibly cheap even for a park home and a great little garden.

My auntie lived in a park home until she died. She was more or less trapped in it because of the draconian rules applying to selling and/or replacing. Also had to buy all her gaz exclusively from the park.

And the 'yearly ground rent' or 'site fees' were more than some people pay in rent. Is the same in Spain where I've looked at holiday homes - site rent is more than renting an apartment in same locality.

The park has a website - you should be able to get details of site fees and rules and regs from there:

http://www.berkeleyparks.co.uk/view-park.php?park_id=23

Scrub that! I've already found the important info on there!

Retirement Park (50+)
(I'd rather die than live in a place that doesn't allow young people!) God's waiting rooms I call them

Pets considered
Considered is not the same as ALLOWED!

Current Pitch Fees for new homes at Shepherds Grove Park are £146.00 per month.

Now that's low but I am suspicious of the 'for new homes' and the use of the word 'current'. It might be tied into you buying from them and might be for a limited time.

What happens when it is NOT a 'new home'?

It also states quite clearly

There are no previously owned homes at this park.

I don't understand that. You are looking at one aren't you?

My Mil would love to sell hers and move closer to any one of her children but her friend on the site has been trying to sell for 2 years without success and if you can't sell, you can't rent them out as it's not allowed. Of course the site owner would buy it off her for half the value.

as it's a static won't it count as a non-standard construction and therefore no mortgages?

It's a minefield Bev, remember I have 2 of these!! You can't get a mortgage, you're stuck with ground rent of £4K a year (my park anyway), and some of them are only open 7 months of the year, although mine is currently 11 and they're going for the full 12 very soon.

The downside of these is, once you own one, you might as well have thrown the money in the bin, because you cannot sell them on privately, cos the park will charge YOUR buyers half as much rent again cos they want you to sell it to THEM at a fraction of the price you would get from your private buyers. They would also then have the right to "move" it off the plot it's on if you sold it privately, so all in all, the new purchaser gets the bum deal, and so it goes on. IF the park buys it off you, then they give you a pittance for it, it's just the way they work. We paid £15K for our 2nd one this year, and if I sold it back to them tomorrow, I'd be lucky to get £2K for it.

All parks have their own finance deals if they're a large company, don't know about the smaller, private type of park though.

There's also the length of time left on the current deal on buying these. Most parks only allow a van up to 10 years old, but if you buy one from the park itself, some of them give you 20. This would then be a great idea IF you wanted to buy it, live in it cheaply for the next say, 15 years that's left on top of the age of the van to make up those 20 years in total. They sure have got you buy the short and curlies with these statics on parks, but the way I do it, it's fine, cos I make money out of mine, the cost of the vans and my profit, but it's a 5 year turnaround to do just that, so I can throw them away at the end of the 5 years kind of thing without a loss. Buying one privately, however, they will stick to their guns about the TEN years!

Some people pay these high prices such as this one in the link, either privately or from the park sales office, but, it's a cheap way to live if that's what you intend to do, but don't think about getting your money back, cos you won't!

Losos knows all about this too cos he went into it all in great depth a while ago when he was thinking about buying a lodge on our park.

Yes it will.