If you’re thinking about downsizing into a residential park home, it can sometimes feel confusing – especially as park homes are usually more affordable than traditional brick-and-mortar houses. Many people ask whether it’s possible to part exchange their current home for a park home, and in many cases it can be.
It’s important, though, to look at all the financial aspects before making a decision. Consider whether you’ll be buying outright or using a finance plan, factor in the difference in value between your existing property and the new home, and be clear on ongoing costs such as pitch fees, utilities, and maintenance.
Taking the time to understand your financing options will help you make the most of the savings from downsizing while ensuring your move is affordable and sustainable in the long term.