Caravan parks the saviour of those struggling at home

The crises facing our financial institutions show little sign of improving in the immediate future and many homeowners across the pond in the US are now turning to caravans for stability in the property market.

Carol Foster runs four mobile home parks in the States and told the Record-Courier: "I think [Americans have] forgotten there's an alternative to homes or apartments."

"About seven years ago, people were getting loans for $140,000 and they became buried with mortgages and felt no hope. You can still own your own home," she added.

But the benefits are not simply restricted to an affordable way of owning your own home, Ms Foster added.

They also include the benefits of being close to nature and part of a community, it was reported.

Certainly, owning and living in a caravan would be cheaper than mortgage repayments at present, despite the falls in house prices across the country.

However, repairs to a damaged caravan without caravan insurance can be costly, and as such it is essential to ensure a good caravan insurance policy is taken out at the soonest possible opportunity.

21/10/2008 12:10:29