Park Homes for Sale are a Great Investment Option

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Residential park homes are no longer considered as something for the elderly, retired people. They attract people of all age groups, social status, etc. These homes offer great advantages from financial benefits in the form of low maintenance, Community spirit, all modern comforts required for a modern day living.

Beating the recessionary trends the demand for park homes is on the rise and these homes are back in vogue! A research by the London School of Economics reports that this industry contributes a major share approximately 4 billion ponds to the UK economy. Industry experts says, more than 50% of British people own at least one Residential park home during their lifetime. No doubt, park homes on sale have a huge demand, if you are looking for one to buy, here are some factors to consider:

Park Homes for Sale are a Great Investment Option

•  Location: Location plays a very important role in investing in house property; park homes is no exception. Select an area that has high chances of getting rentals throughout the year. Some areas have rental demand only during certain period, season of the year, while other areas have demand all through the year.

•  Property: Selecting the right property is very crucial; usage plays an important role in determining the right property for your specific needs. If you are buying a property for yourself, make sure the property fulfils all your individual or family needs. When buying or investing in a property (http://www.wikihow.com/Invest-in-Property) to let out make sure that the property meets most of the requirements of the market demand. There will be a huge demand for properties facing water front; for huge properties that can accommodate up to eight members, etc. residential park homes that have ample space, inflow of natural air, sun light, etc. have a high demand.

•  Have enough Facilities: Make sure your target tenants, if you want to rent the property to individuals, families or groups. Accordingly, you need to select properties that have enough amenities for the tenants. Having enough facilities for utilities including shower, drying space also needs to be considered.

•  Hiring an agent: Renting park homes involves adhering to a number of legal issues, you need to follow tax laws, safety laws, emergency issues, and health related issues. You may not be knowledgeable or expert on all these matters. Therefore, it is better to hire an agent to take care of the renting issues, who would normally charge a fee of 20% of the rent, and is normally tax-deductible.

•  Overheads: Proper maintenance of house property is crucial for park homes, if looking for lucrative incomes. Furniture, fixtures, etc. need regular replacements, especially white good, need regular upkeep proper maintenance, so the property is always occupied and helps you with rent.

•  Insurance: Along with the property, it is mandate that you also buy insurance to cover for any damages, accidents, etc. As a rule, property owners buy insurance that covers up to 500,000 Pounds.

•  Taxes: For park homes to get the favourable tax status – furnished holiday Letting- and the benefits thereof, the property has to be on rent for a certain number of days in a year. The property has to be rented for a minimum of 220 days and in occupation for a minimum of 105 days.

The decision to invest in a park homes is a great option. Holiday parks in Kent, Devon, Cornwall, Dorset, etc., have all the amenities and park homes are constructed in a way that facilitates comfortable living. Park homes for sale have well insulated walls, are manufactured with quality materials, and have low running costs, maintenance costs per year. These houses have all the convenience of modern living but at almost fifty percent of the costs of the regular residential properties. Park homes available on sale are built strong and robust and can last for a long period guaranteeing good returns on your income.

These homes are ideally suited for those who seek a peace and tranquil environment, though it is rumoured that these are a perfect fit for retirees, modern day young generation also are showing great interest in these park homes. Greenery all around, peace, tranquil environments, social activities, clubs, facilities for swimming, sports, and outdoor activities are very common facilities offered by the Park homes for sale everywhere.