Static park homes living in one permanently

[chewee]

Looking to sell our house to buy a lodge so we would be mortgage free,does anyone do this already and have any advice?

[Jet]

That's spooky!
I had that conversation with DH yesterday...and was looking on Right move ...we don't have a mortgage ..but was thinking to give the DSs money now whilst they Are young enough to enjoy it.
Will watch this thread with interest.

[Floridatilly]

Not quite the same but my friends parents (she is an only child) lived in a large 3 bed detached property with a huge back garden and no mortgage. My friend sold her 2 bed terraced house and built a one bedroom cabin at the bottom of mum & dads garden, living area, kitchen dinner, bathroom & bedroom. Rest of the money put into savings.
My friend, husband and two children moved into the large 3 bed property. Mum and dad moved into the cabin. All mortgage free and all loving the new situation!

I have no idea about how the bills work out for the cabin, water, electric etc

[mickey house]

Originally Posted by Floridatilly

Not quite the same but my friends parents (she is an only child) lived in a large 3 bed detached property with a huge back garden and no mortgage. My friend sold her 2 bed terraced house and built a one bedroom cabin at the bottom of mum & dads garden, living area, kitchen dinner, bathroom & bedroom. Rest of the money put into savings.
My friend, husband and two children moved into the large 3 bed property. Mum and dad moved into the cabin. All mortgage free and all loving the new situation!

I have no idea about how the bills work out for the cabin, water, electric etc

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Obviously I don't know the details, but many councils won't allow people to live in cabins or similar buildings at the bottom of gardens.

To get permission for a second home at the bottom of a garden isn't easy from what I understand (I don't plan to permanently live in the man cave at the bottom of my garden).

[Gryff]

We looked in to this a couple of year ago biggest issue we found many
Sites only allow 11 month occupancy
It wouldn’t have been an issue for us as we intended to spend as we do 8/9 weeks in the winter in Florida

[Floridatilly]

Originally Posted by mickey house

Obviously I don't know the details, but many councils won't allow people to live in cabins or similar buildings at the bottom of gardens.

To get permission for a second home at the bottom of a garden isn't easy from what I understand (I don't plan to permanently live in the man cave at the bottom of my garden).

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I honestly don’t know any legal information apart from the house being put into my friends name.
It was about five years ago now.

[400ixl]

Think very carefully as everyone I know who has done this has regretted it further down the line and then not been able to afford to get back onto the property ladder.

Static homes are great for a holiday or as a temporary location, but not so much for years. They also take quite a bit of looking after as they age and are only good for a finite period and then need replacing at quite a considerable cost.

One of the biggest regrets on of my grandparents made.

[megaflyer]

A ex work colleague of mine sold her house in Rayleigh Essex when she retired and bought one in Wales. It is one you can live in all year round and looks absolutely gorgeous. The money she realised means she can afford to go to Florida upper class as much as she wants and her view is if the lodge lasts 20 years (it has a guarantee longer than that) then she has had her moneys worth. I envy her joie de vivre attitude.

[Floridarules]

I don’t think this is possible unless the property is a specific retirement property (usually over 55)

I don’t this this would be a good idea personally. Downsizing or buying a smaller house to release capital would be the obvious solution.

As for the cabin in the back garden- what about council tax?- even holiday lets are liable for council tax so I imagine a couple living in a cabin in the back garden would be?- what happens if the couple in the big house split up or if both couples fall out ?!? potential to get very messy

Sorry to be a negative but this all sounds too risky and if I’m honest (I do not know the family of course, it could be idyllic) but the younger couple got to keep their savings after building the cabin and the big house? 😳💰

[vhm672]

If you are seriously looking at this then you would be looking at what is called a Park Home which are classed as residential and the sites are licenced for use as main residences. Holiday parks are licenced differently and can't be used as residences which is why I make the distinction.

Obvious costs that have been mentioned are the purchase then replacement of the unit as many sites will have a maximum age of unit. Other less obvious costs are the site fees, utilities etc. This was a major scandal a number of years ago as site owners were fleecing residents and the regulators stepped in but not before many people were put into severe financial difficulty and worry. I would want to look very closely at how fees are calculated and how they can increase.