A Guide to Buying a Park Home
May 28th, 2020
If our luxury park homes have piqued your interest, then you might find it useful to know the process of buying a residential park home. Keep on reading to find out more.
Step 1: Choosing the park
As the name implies, park homes are homes within a park. Because of this, the places that you can live are few and far between, meaning that the location is a key deciding element. Take your time and visit a few open days to see which park is right for you.
Step 2: Choosing the home
Now that you’ve found the perfect location, you can start to look at the available homes. Most parks will have at least a few design options for you to choose from, so you’ll have plenty of choice.
Step 3: Finance options
Before you can actually purchase a residential park home, you need to figure out what you can afford. This will mostly come down to the value of your existing home because mortgage lenders are often unable to offer mortgages for park homes. However, there do exist some specialist lending companies that can offer you finance if that is the route you want to go for.
Step 4: Budget for upfront and ongoing costs
Like with a bricks-and-mortar property, you will need to pay a deposit on a new park home. The deposit will be required upon completion of the sale.
As for ongoing costs, there are many of the same costs as with a bricks-and-mortar property. For example, you will still need to account for water, gas, electricity and council tax. However, you will also have to pay a pitch fee to help with maintaining the grounds.
Thinking of buying a new park home?
We have a number of luxury park homes available at Riverside Park in Whitegate, Cheshire. Each overlooks the stunning River Weaver and all are fitted with designer fixtures and furnishings. Call us on 0800 772 0011 or send us an email at info@olympicparkhomes.co.uk and we’ll get back to you as soon as possible.
