Park homes are an affordable option for retirement, both to buy and run. Typically priced more favourably than their brick-and-mortar counterparts, they’re an attractive option for free up equity, all while improving your quality of living, moving into a brand-new purpose built home.

So, how much does a new park home cost? Well, it very much depends. In this article, we break down the associated costs and explore the key factors that influence the final price.

What makes up the cost of a new park home?

As park homes are made to order, there is no set cost for a new park home. There are many different manufacturers, all of which have different price lists. You can contact a manufacturer directly and, upon request, they will provide you with a price list for all their models.

It’s important to remember that the cost from the park home manufacturer is just the base cost. You should also expect additional costs for delivery and siting of the park home, as well as:

• Connections to utilities
• Infrastructure required to host a park home
• Brick skirt
• Steps and railings
• Location

The buying process is usually handled by the developer of your chosen park. Each site has different fees and requirements. For example, some insist that installation must be completed by their approved contractors. Finer details like these are important to consider, as they can have a big influence on the final price.

Developments typically have price lists available on request, including full costs for the manufacture and installation of park homes on their site.

The effect of location on the price

Where you buy a park home can play a big part in the price you’ll pay. Much like conventional housing, in-demand locations inevitably come with higher price tags. Generally speaking, the further south you go in the country, the higher the price. For example, a new park home in Lincoln should be expected to cost less than one in an area such as Cornwall. For that reason, it’s always sensible to discuss pricing with the operator of your preferred park home development. They can give you a final price for any of their park homes.

The development where your park home is to be sited can also influence the price, regardless of its exact location. Each site is very different, with some offering amenities such as pools and shops, while others, such as Parklands, are simpler: a gated, tight-knit community with lots of amenities conveniently nearby. Naturally, some sites, as well as the plots within them, should be expected to cost more than others.

What should you expect to pay at ready-to-move-in specs?

Using Parklands of Lincoln as a real-life example, we currently have a 45×20’ Omar Colorado for sale at £230k. This turnkey price includes all furniture and fittings, such as beds, a three-piece suite, a dining table and chairs, a fridge/freezer, and a washer/dryer, to name a few. If you prefer to customise, any of these items can be removed, and the final price will reflect the deductions accordingly. One of the fantastic benefits of buying a park home is the flexibility they offer.

When buying a park home built to order, you can design it to accommodate your budget. The home can be resized, kitchen units can be removed, carpets altered, and the en-suite may be unnecessary, for example. These are just a few ideas to help keep costs down. At Parklands, park homes start from around £180k, but can go up to £350k and beyond.

How much does it cost to run a park home?

Running costs for park homes are generally more favourable compared to bricks-and-mortar homes. Their modern construction ensures energy efficiency, and residents are often pleased with the low cost of their heating bills. As park homes are legally termed ‘mobile,’ they are usually categorised under Band ‘A’ Council Tax, which is the lowest band. At Parklands of Lincoln, this amounts to around £1,000 per year.

You should also consider the pitch fee, which you will be expected to pay on a park home development. At Parklands, this fee is currently £157.23 per month. The pitch fee helps fund the upkeep of the grounds, communal lighting, secure gated access, CCTV, and a caretaker.

Additionally, it’s worth factoring in home insurance for a park home. While premiums are generally competitive, they tend to be slightly higher compared to a bungalow. It’s also recommended to have the exterior of the park home repainted every three years, which costs approximately £1,000.

Make the most of your retirement

Park home living is more affordable than buying and running a brick-and-mortar property, offering you an exciting opportunity to live an upgraded lifestyle. With prices typically starting from around £180,000, downsizing to a park home allows you to free up equity, enjoy a brand-new home tailored to your exact needs, and make the most of your retirement years in a supportive, secure community setting.

If you’d like to learn more about life in a retirement village, we invite you to visit Parklands. With vacant plots available, you could have a brand-new park home built just for you in rural Lincolnshire, positioned in a prime location close to all the amenities you’ll ever need.

We’re open for visits every Tuesday. Come and explore our latest showhome and get an idea of what your next chapter could look like. We’d love to show you around and discuss all things park homes, including how much they cost. To learn more, contact us today.