The depreciation of park homes in the UK is an urgent issue that demands immediate attention from park homeowners. Whether or not you purchased for recreational use or fulltime residence, park homes being marketed as an affordable way to enjoy holidays that can be rented or shared with friends and family.
What They Don´t Tell You When You Buy
Park operators can be very convincing when pushing the benefits of a park home ownership, but what they either conceal or gloss over is;
- Massive Depreciation
- Huge increases in pitch fees
- Excessive running costs
- Disappointing rental yield
- Affordability
- Harassment from park owners
- Rigid rules
The reality park homeowners face when they come to sell their ownership is alarming depreciation rates that can drastically affect their financial stability and quality of life.
Although park homes are not expected to increase in value, owners have been shocked to discover they are being forced to accept an offer of up to 10% in some cases of their original purchase price.
This rapid decrease in value poses a significant risk for current owners who may find themselves unable to sell their homes for a fair price, resulting in substantial if not catastrophic financial losses. For those individuals who have already sold their park home, they may already be too familiar with the feeling of loss, having suffered the reality of huge depreciation on their park home.
The clients that have requested our assistance to deal with the injustices done to them by park operators have cited a variety of reasons for wanting to take action against them.
Here´s a sample of the most common problems;
74% – I was offered a fraction of the original cost of my park home by the holiday park company.
77% – It didn’t turn out how I was told it would be.
77% – The park had very rigid rules that impacted on my enjoyment or that of my family.
82% – The site fees increased unreasonably each year.
Urgent action is required to address the practices of park operators.
The current legislation that is in place to protect park homeowners doesn´t actually do anything unless it´s enforced, as a lack of regulation in the industry allows rogue operators to achieve maximum profit through unethical and even fraudulent manners.
Here is some of the feedback we have recently received from disgruntled holiday park owners:
You Can Take Our Advice
If you´re wondering if you could take action against your park operator, contact us for a free, no-obligation consultation for a review of your current situation. If we are able to take action, we will.