Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Manufactured home in a park or a home?
Hello, I have till March 10 to decide if I want to by a home and have a 30 yrs mortgage (which I can afford) or if to buy a mobile home in a park to live financially relax. I feel that if I buy a house it will be for my kids. I would know enjoy all the money invested in it bc I will be working etc.. but if I buy q mobile home in a park I just got to pay the rent of the park and I will a lot of extra money aside to enjoy life a little better/free such as traveling which I love to do. I can travel with both selections but one will give me more freedom to do so. What’s the pros and cons of manufactured home or buying a home? Thank you
- jimLv 42 months ago
It’s hard to say because my father owned a house and lived all this life maintaining it and my sister who lives in a mobile home got to travel more and do more things.
- babyboomer1001Lv 72 months ago
It sounds like you cannot afford the stick house. It is never wise to strap yourself in so tightly that any little emergency would stress you way out. Being that tight for cash would be a stress in itself. I'd suggest you go for the manufactured house. Lot rent also is generally stabilized. Houses have huge expenses that you can't even imagine. We have a very modest house and our monthly expenses are a little over $4,000.
- MaxiLv 72 months ago
A house without question....... a much better investment which increases in value once yu have paid off your mortgage it is yours free and clear
Whereas a mobile home loses value year on year and in 15-20 yrs you are likely to need to purchase another, you pay ground rent so have a landlord and rules/regulations and gound rent increases...so all in all a poor decision
- Anonymous2 months ago
If it were my decision, I'd buy the home. A home that's reasonably well maintained tends to hold onto its value if its location is good, and increase in value if its location is excellent and/or it gets the occasional upgrade, some of which you can do yourself.
A home does involve more responsibility in some ways. You own the building and the land it's on, and whatever goes wrong is your problem.
Mobile homes tend to lose their value over time, and of course the rent you pay to the park is just money gone. To keep the mobile home nice, you'd still be paying for whatever it needs, but the land and its maintenance may be someone else's problem,depending on the terms of your lease.
It's worth noting that the rent at the park is not a fixed amount like a mortgage payment. If the park is nice, the rent is likely to rise, and your only option if you didn't want to pay more would be moving the mobile home, which is not that easy.
- How do you think about the answers? You can sign in to vote the answer.
- parsnipiannaLv 72 months ago
You rent in mobile home park can go up every year, while the value of your home goes down every year.. So after twenty or 30 years instead of owning a house worth much more than you paid for it, you'll have nothing. https://www.mhvillage.com/blog/mobile-home-lot-ren...