mobile home

[chipy]

does anyone have experience living in a mobile home? pros? cons? i'm considering buying a used or new mobile home when i move to pennsylvania as opposed to renting an apartment.

my reason is because i feel that in the end, i'll have something to show for with the mobile home. and it's not as expensive as a regular house (especially for someone just starting out full-time and don't have lots of money saved up).

thanx
chipy

 

[tranceport]

They blow away with 1mph winds...

Or float away when it rains.

 

[ViviTheMage]

they are definatly small.

we had one at our cabin while building it...we fit 7 people a night in that sucker.

 

[zanieladie]

Pass on the mobile home. They depreciate in value (like a car). You will never get anything out of it when you sell it (IF you can sell it). Also, in addition to paying the "mortgage" (which will probably be more of an installment loan - which is NOT tax deductible like a mortgage), you will have to pay ground rent (unless you own the land).

If you own the land, you will need to put in drainage, sewage, etc.

CLIFF: Skip the MH.

 

[Excelsior]

If you are planning on owning a decent peice of land and only living in the MH until you can save enough to build a house, then great.

 

[Zim Hosein]

Originally posted by: chipy
does anyone have experience living in a mobile home? pros? cons? i'm considering buying a used or new mobile home when i move to pennsylvania as opposed to renting an apartment.

my reason is because i feel that in the end, i'll have something to show for with the mobile home. and it's not as expensive as a regular house (especially for someone just starting out full-time and don't have lots of money saved up).

thanx
chipy

Do you still have to pay for gas, electric, phone, cable etc.? How would this work out cheaper? I'm

 

[QED]

My aunt lived in an "upscale" mobile home park.

Like zanieladie said, though-- they are cheap but they depreciate in value and you do have to factor in the cost of the lot rental and association fees.

You might found out that you're not saving that much compared to renting an apartment-- albeit an apartment of a much smaller size. With a mobile home you don't have to worry as much about neighbors making noise since you are further apart then an in apartment.

 

[Excelsior]

Originally posted by: Zim Hosein

Originally posted by: chipy
does anyone have experience living in a mobile home? pros? cons? i'm considering buying a used or new mobile home when i move to pennsylvania as opposed to renting an apartment.

my reason is because i feel that in the end, i'll have something to show for with the mobile home. and it's not as expensive as a regular house (especially for someone just starting out full-time and don't have lots of money saved up).

thanx
chipy

Do you still have to pay for gas, electric, phone, cable etc.? How would this work out cheaper? I'm

Mortgage payment...

 

[RCN]

My wife is a property manager for several mobile home communities.

1. They will not blow away in a 1mph wind.

2. They are not always small. 16x80 singlewide is 1280 square feet, 32x80....2560, and then there are triples before you move up to "modular".

4. Never buy new. Depreciation is a definate factor when owning a mobile home. Luckily most of the lenders have went bankrupt and there are tons of repos on the market and quite a few that go up in tax sales.

5. When buying repos make sure you know the local laws. You may or may not be responsible for back lot rent where the home is currently located. Especially if you leave it in the current community. Moving is usually around $1500 per section.....

6. Are you planning to rent a lot or purchase?


better investment than renting if you get into one right. Save money and buy a repo outright. I've bought several in the past few years for less than $7500 and usually doubled my money on them in a few days........

 

[RCN]

I would suggest you save up a bit of money. Contacy lenders for their repo list and then make an offer on a newer repo. Check them out first though........

 

[chipy]

thanx for all the posts... both for and against MH's. RCN, if i do decide to go this route i will definitely loop up the laws concerning them in Pennsylvania.

thanx a lot!

chipy