what about a person in Oklahoma buying a mobile home? Smart, or stupid?

Question

Everyone tells me not to buy one. But that's all i can afford to own at this time.

Answer 1

Hurricanes,Hurricanes,and tornado's,oh my..

Answer 2

First, don't listen to anyone right now, and seek out someone who has a background in homeownership education. Take a homebuyer education course. We have them all over the state in Oklahoma--the most comprehensive homebuyer education program in the nation. The courses are free, and can help you better make your decision by educating you on your credit, ability to pay, choosing property, financing issues, etc. The courses are usually 8-12 hours, you can go to www.HomebuyerEducation.info for more information.

There are also a lot of downpayment assistance programs available across the state, so depending on where you live, you might be able to afford more than you think.

If you are considering a new mobile home, they are far more energy efficien than in the past and are much better built. They do not necessarily lose their value, depending on where you happen to locate the home. Double wides that are permanently affixed to a foundation and have improvements such as landscaping and porches and garages keep their value, if not increase in value.

Again, take a course first, and that will help you decide. Homeownership is a big decision, and can be a big headache if you make the wrong choice.

For those that don't know, Oklahoma is not a coastal state, so we don't really worry about hurricanes! Tornados, yes. But we have the National Severe Storms Center and the largest weather teams in the nation and we know when to duck our heads and heed warnings--that's why only 44 people died in the most powerful tornado ever recorded , on May 3, 1999 even though over 4,000 homes were destroyed or heavily damaged.

Answer 3

I understand the economics of the situation and that many people feel that one simply must BUY something.

Come with me and step out of that way of thinking for a moment.

Consider these things:

It is not just your money you are thinking of risking.

Consider that it is also your physical well being if not your life you are gambling with.

You are in "Tornado alley"

Mobile homes lose value rather than gain value over time.

The one basic rule that I remember is:

Never buy anything on credit that LOSES value.

The two things that meet this test are traditional stick built homes and education which both generally increase in value over time.

Mobile homes usually have much higher utility costs and higher maintenance costs than traditional homes.

Is it possible that in the future you will be better able to own a traditional "stick-built" home?

In some periods of life it is simply the better choice to rent.

If income is the issue, perhaps you could go to your local community college and get some training for a vocational program that would allow you to earn a higher income. Renting is likely to be better while in school. Some of the vocational programs are as short as six months, others may be one year or two years. Federal financial aid is often available.

Renting can particularly be a better choice, if you can find a reasonable apartment with all bills paid. I know they are rare, but they do make sense. It places the responsibility of the utility bills on the owner who is the only one who can reasonably make the energy conserving changes to the building.

Once you have skills and a better income then consider your housing choices again. You may find then that you can purchase something that will not put both your finances and your physical well being at such high a risk.

Answer 4

Well,
people are probably telling you not to buy one because there's a stigma attached to mobile homes.
You know what though?
An old friend of mine had an Uncle who owned one and it was all decked out like a real house!!

I mean, look at it this way - if that's all you can afford and you want to buy your own place to live, how can that be a bad thing?

I don't know too much about them, but I do know I've seen some that look really nice.

I think you should buy it. Why not?
Take care to find a good, safe place to live, though.

Not sure how to handle the tornado thing, just make sure you are near a shelter.

Nothing wrong with owning a mobile home in Oklahoma.
It's less of a risk I think than owning a multi - million dollar home on the fault line in California!!!

(THAT I don't get.)

Answer 5

A great many people in OK live in mobile homes. OK is not the
only state that has tornadoes either. My friend has been
renting a long time. She recently bought a lovely mobile home in Northern MO. She hardly got moved in and they had almost tornado like winds and hail, but her mobile home took it all , she
said, better than her upstairs apartment did. It will be your own
and you can take it with you or sell when you are ready for a move.

Answer 6

I think it's absolutely fine, especially if you have land you can put it on for free or for cheap. And I think it's smart to invest in something that you are paying to own, unlike renting. You will have something to sell in the future if you decide to buy a regular home - and have a fantastic downpayment! And that whole Tornado thing, regular houses are destroyed just as easily.
Good luck!

Answer 7

Do it. If you're sure you can't stretch for the real house, buy the mobile. Owning anything is better than giving away rent money. Good luck!

Answer 8

There is absolutely NOTHING stupid about staying within your means to provide shelter. Living in within "Tornado Alley" means you have to take additional measures to protect yourself. Get a storm shelter. BTW I've never seen a regular house that can take a tornado undamaged either.

Answer 9

Maybe consider a condo or townhouse. A mobile home isnt even as much of an investment as a condo or townhouse. (if you can swing it) Best of luck.

Answer 10

Stupid. Buy a tent.

Answer 11

I say go for it. It's a home. Just please be careful about tornado's.
It's nice to have your own place. And later on, you can add a porch or deck, maybe decorate it nicely.....a home is a home.