Gus Philpot thought he had landed a good deal on a home in the middle of the COVID-19 pandemic and the housing crunch on Queensland's Sunshine Coast.

What he did not know was that five years later, his dwelling would be "worth nothing", after the local council introduced rules preventing permanent residents at Caloundra's Dicky Beach Family Holiday Park from on-selling.

The decision has left more than 100 residents at the park facing an uncertain future.

"I put everything I had into this place and to be told that now I can't even sell it or even hand it on to my children … if I decide to venture on and do something else [I can't]," Mr Philpot said.

"If I'd been told straight away that, 'You're not going to be able to sell', I wouldn't have bought it.

"I've invested all [my] money."

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