Residential park homes offer an appealing alternative to conventional bricks-and-mortar housing. When living on a development, their sense of community, cost-effective living, and low maintenance provide an enticing retirement option, which is why their popularity continues to grow. With their many benefits, a key question arises: Do these homes retain their value over time? With careful consideration, they can be sound financially as well as for lifestyle.

Park homes should not be considered a financial investment, but rather an investment in your retirement. The primary decision driver should be about upgrading your lifestyle to one that better suits you needs and is less maintenance, so you can spend more time doing what you love. That said, it’s of course sensible to consider the financial implications of purchasing one and whether it retains value in case one day you do decide to sell it.

Factors That Influence Value Retention

Resale data from Parklands of Lincoln shows that homes sold on their development over the years have all increased in value from their original purchase price. The resale value of a park home depends on many different factors, including location, build quality, condition, and park management. The market recognises these strengths at Parklands, which explains the consistent success of resales.

Location

Location is key and always dictates the price of everything, from house prices to the rates of tradesmen. A park home in a development that is well maintained and located nearby all the essential amenities, such as GP, pharmacy, Post Office, is often desirable. The demand to live on a certain site will also play a huge role in the price the homes retain.

Build Quality

Build quality is also a critical factor, much like traditional housing. Modern residential homes, constructed to BS 3632 standards, boast durability, energy efficiency, and contemporary designs. High-quality manufacturers such as Omar, Prestige, and Stately-Albion have solid reputations that enhance appeal through premium materials.

Condition

A well-maintained home, with its exterior painted routinely, will inevitably improve its appeal and saleability. If the home has been continuously upgraded with modern interiors, it’s likely to retain more of its value over time, much like a traditional house that has been modernised.

Management Fees

The financial structure of ownership is often likened to leasehold but is unique, governed by the Mobile Homes Act. Buyers purchase the home and the right to use the land through a pitch fee, which funds development services. High pitch fees may deter prospective buyers, but recent legislative protections ensure fairness.

Pitch fees are reviewed annually and increase in line with the Consumer Price Index provided by the Office for National Statistics. Any further increases must be justified and agreed by residents. If residents disagree, they can appeal to their local council, and a tribunal can become involved. These protections provide confidence that unwarranted pitch fee rises won’t hinder resale prospects.

So, do park homes retain their value?

An ageing demographic and rising traditional housing costs suggest that the trend towards affordable mobile home living will persist, keeping demand strong. By doing your homework, choosing a reputable site like Parklands, and maintaining your home, concerns about its value retention should be minimal.
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Interested to see what park homes have to offer? Come and visit our park home development and explore the latest showhome. With vacant plots available for new park homes built to your exact specifications, you could set yourself up for an enjoyable retirement in Waddington, a quiet village just outside Lincoln. To learn more, contact us today.