2007-08-19 09:57:44 · 7 answers · asked by diep d 1 in Business & Finance ➔ Renting & Real Estate
Bad idea. You would have to live in a mobile home park, and they are very bad in CA. I think this is where the term "trailer trash" comes from.
It is also a terrible investment. Get a condo if you need low income housing, it is at least real property.
2007-08-19 11:39:28 · answer #1 · answered by Landlord 7 · 0⤊ 0⤋
First remember Mfg homes go down in value just like a car, the only thing that grow in value is the land if you own the land, if not you will be loosing value every year. Mfg homes are a poor investment, if that is what you are looking for. If you are retired and looking just for a place to die in a few years then go for it, you can't take it with you so what difference would it make. But as an investment do not buy a mobil home.
2007-08-19 11:37:04 · answer #2 · answered by Leo F 4 · 0⤊ 1⤋
A mobile home (just like a car) starts to lose value the moment you buy it. It's okay if that's where you want to live forever, but it's a very foolish investment. Use the money tp pay rent on a real property instead, and begin saving for a downpayment on a mortgage. Real estate is daunting in California, but that's no reason not to try!
2007-08-19 10:06:01 · answer #3 · answered by Anonymous · 0⤊ 1⤋
the issue with mobile homes is where to park them.
in every urban area i know of, the availability of parking spaces is limited and growing smaller -- which lets landlords raise rents every year.
you have to go out to the fringes of the urban areas to find where more homes are being put in. AND most of the new mobile home parks are actually owned by the folk selling the homes -- so, outsiders just aren't welcome.
in essence, except for rural areas, this makes mobile homes immovable. there's 'no where' to move them to except the boondocks.
now, if you want to live out in a rural area, that's great. Just remember that this is California and there'll be heaps and piles of rules and regulations seven ways from Sunday. Unless, of course, you buy an existing home and the property underneath it, AND all the necessary permits, etc. were done completely correctly.
GL
2007-08-19 10:08:09 · answer #4 · answered by Spock (rhp) 7 · 0⤊ 1⤋
A MH on land is not a good investment. A MH in a park is a terrible investment. MH's have come a long way in quality of construction, but they still do not hold their value the way a stick built home will.
2007-08-19 14:41:26 · answer #5 · answered by godged 7 · 0⤊ 0⤋
I think it is a bad financial decision. You are paying big money for a depreciating asset. It would be like living in your car.
2007-08-19 10:04:06 · answer #6 · answered by Anonymous · 0⤊ 1⤋
your dream do it.
you will be happy and never regret the decision.
2007-08-19 10:03:25 · answer #7 · answered by Michael M 7 · 0⤊ 2⤋