For most people the reason to purchase a park home is based upon economics and downsizing. By selling their ‘bricks and mortar’ home they are likely to release equity which will enable them to enjoy their retirement, support a reasonable lifestyle, take holidays and fulfill hobbies and pastimes.
Park homes tend to be in the lowest Council Tax band A, and because the homes are smaller and usually well insulated heating bills tend to be much lower as do other bills too.
One thing to be aware of is that when you sell your park home the site owner is entitled to receive up to 10%, and it usually is 10%, of the sale proceeds. Residents are campaigning for a Government review of this charge which they feel is outdated and unfair whilst park owners argue it is crucial to the viability of running their parks. The answer is probably a bit of both but don’t be surprised to see a reduction in due course.