my inlaws pay the $585 mortgage on the mobile home they bought a couple of years aga( we live in it now). we want to move in about 6 years. do we buy it (70K), or save for a house and land we want somewhere in montana or northern ca?will the house last a long time if we move it on land?
2006-11-15 11:37:29 · 7 answers · asked by Anonymous in Business & Finance ➔ Investing
no owned land it in a park, we may want to move it to land in the future.
our goal is to get out of ca and buy land somewhere and put this house on it or buy a house with land.
2006-11-15 12:02:46 · update #1
Not to sure there is there is a tax advantage for having a mobile home.Also check the land your looking at, there might be some type of restriction on the home. A mobile home might not meet the type required. Property tax for land? mobile home parks are nice, but you don't pay taxes on the land so nothing to write off.
2006-11-15 16:12:00 · answer #1 · answered by Grandpa Shark 7 · 0⤊ 0⤋
I have to admit, mobile homes are the cheapest homes available, and they won't last a long time. So, why not save up money and buy a really nice house instead of playing around with a mobile home? I would definitely wait a few years and buy a nice house - not a crappy mobile one.
2006-11-15 12:00:58 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Although a mobile home may be cheaper, you also have to consider the lot rental fees. A mobile home is guaranteed to depreciate and the lot rental fees to increase over the years. A normal home can either appreciate or depreciate but other fees as a percentage of the total payment will not increase significantly over the years.
2016-03-28 21:52:25 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hi there, A couple of questions you should ask your selves !
1. Are you happy in your mobile home?
( if so ! why not )
2. 70k sounds like alot of money ! ( is some land encluded ? )
Well, I allways believe in investing in bricks and land for a secure future, and so do banks and financial institutions.
in the long run , i would say at the amount your spending per month !
GO BRICKS AND MORTAR !
My Kindest to you . Nick.
2006-11-15 11:52:32 · answer #4 · answered by nick h 1 · 1⤊ 0⤋
Houses appreciate in value. Trailers depreciate in value. In six years your trailer won't be worth what you paid for it. It's not a good investment if you are planning on moving in 6 years. Save every dime and consider a CD or money market account. Deposit money into it every month. Go to your local bank, they usually have great options for savings - and it doesn't take much to start $250.
2006-11-15 11:41:59 · answer #5 · answered by Chula 4 · 0⤊ 0⤋
Years ago, the advice would have been to wait. But mobile homes are constructed better now than ever... and as a result, they hold their value better. Consider what you'd pay in rent... then consider ownership of the mobile home and what you're likely to make when selling it. I think you'll agree that it's better than shelling out rent money that you will never recoup. Good luck.
2006-11-15 12:52:28 · answer #6 · answered by Mike S 7 · 0⤊ 0⤋
save for a house. trailers depreciate as fast as u buy it not 2 mention u will be trailer trashhh!!! u will b thankn the creator if u save for the house u always wanted.
2006-11-15 11:46:03 · answer #7 · answered by thesunnshynne 5 · 1⤊ 0⤋