Is better owning a mobile home or owning a Condominium? which has more advantages?

Question

either purchasing a mobile home for $180,000 or buying/renting a Condominium. I need help on deciding what is best for me and the money i make. the disadvantages and advantages of both

Answer 1

Ack, I think mobile home are a nightmare. For one thing, they're the only home you can own that commonly and usually DECREASES in value. At one point I thought I'd like one...I mean, you can own your own space for so much less than buying an actual house.

But it didn't take long to figure out thatou simply can't afford it. You end up paying a) a mortgage on a home that is decreasing in value by the minute, b) rent for the space it's on, which is even MORE useless than paying rent for an apartment, and c) Utilities on an outrageously inefficient building.

I'm not one of those "granola types." By which I misean, I know I'm goign to have to pay through the nose to put gas in my SUV, oil heat this winter will be a bear, etc. These are just facts of life.

But I was seriously shocked to hear a co-worker talk about keeping her mobile home cool in the summer....it's a big HOT BOX and the cost was seriously prohibitive, even for a spoiled girl like me. Ditto for the heating costs when it cools down outside.

So...my answer, based firmly in opinion and not much other information, is buy a condo! Stay away from mobile home living because it's just no bargain no matter how you look at it. You're better off renting..

Answer 2

Without knowing your personal financial situation to tailor the answer - a mobile home depreciates, and condo will appreciate, go with the condo. Ask the bank what the loan will look like and you'll find they won't do as long a loan term on the mobile home. That's an indication that they don't hold value as well.

Answer 3

I would take the condo, they are I think better built. I can remeber helping my friend do some plumbing repairs on his mobile and it wasn't an easy job because of the way they are built.
I also agree with the person above seems like mobile homes are cold in the winter and hot in the summer. The walls are thin and there's not much insulation.

Answer 4

a mobile home is going to depreciate faster than a condominium appreciates. Mobile homes have pad rentals and associations as well as condos do. Tornados prefer mobile homes to condos.

Answer 5

Put that money toward a condo. It will be a better investment. While mobile homes may not be as nice as a condo, a condo will give you a better return for your money. Mobile home park usually charge you for your space and may have too many problems like noise, lack of parking for visitors.

Answer 6

Mobile homes are uncomfortable and frankly you will live like a hippy, it's more comfortable to live in a condo, it's a REAL house.

Answer 7

i would say the mobile home b/c first of all you have all those rules and have to deal with a association. that may not be a selling point for you in the future.

Answer 8

True :3