mobile home??

why would i or why would i NOT want one?

some of them seem so nice and they are in some of the same expensive cities as the houses that go for 10xs as much.

i've never understood what makes them a good or a bad purchase.

Re: mobile home??

I believe the biggest issue is the land.
You don't own it and if you're in a trailer park the land can be sold at any time.

But I could be wrong.


Pros & Cons of owning a mobile home

Message edited 7/14/2016 4:25:38 PM.

mobile home??

thanks.

interesting read.

Re: mobile home??

mobile home??

I think the cons is that historically trailer parks have not been in nice areas etc.

But over the years I have been in some vacation spots where there are amazing trailer parks right near the water that look amazing.

I wouldn't be 100% against it - It would be location for me.

mobile home??

I used to own a mobile home on Long Island.

Mobile homes are considered personal property, not real estate. Therefore they depreciate rapidly.
Most mobile homes are never designed to be moved. They are put in place and basically left to stay there. If you are in a mobile home park, yes you need to rent the land that it sits on. Included in that rent are various items, such as water service, cesspool service, etc. But yes technically you could be asked to move at any time.

They are historically looked down upon. I'm not really sure why. But the interior of a mobile home can be just as nice as any house. It is what you make of it. But do not put a lot of money into a mobile home because you will never see a return on that investment.

mobile home??

The cons include everything talked about above, plus, from what I have seen (admittedly very limited experience - I had one friend who lived in one many years ago), the home itself is not as well constructed as a "regular" home - not as sturdy and stable. Decor-wise it can be beautiful and you wouldn't really know the difference if you were just visiting, but in the long run, I think they don't hold up nearly as well as a typical house. But, the flip side is that it can be a very affordable way to live

Re: mobile home??

My friend wanted to get one bc it was a great area and she wanted to buy and that was what she could afford. Anyway, she couldn't get a mortgage on it and ended up losing money to a lawyer. I think bc she wouldn't have owned the land and the depreciation rate.

mobile home??

My inlaws purchased a manufactured home in Fort Myers - they wanted to buy something cash, low maintenance, good amenities. For those reasons, it was a good purchase. They are retired and wanted something easy and no mortgage.

mobile home??

I grew up in the Midwest, where there are a lot of trailer parks, and many of them are actually really nice, and very large. However, if you live in an area prone to hurricanes/tornadoes, not a wise choice, since they aren't really secured to anything in the ground. They also have very poor insulation, and heating/cooling costs are very expensive.