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What are the things to be careful for when considering the purchase of a mobile home?

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February 19 2011 - Carlsbad
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Depreciation, financing if you need it, and space rents, which can be astronomical!

Good luck!
Cory
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February 21 2011
Be considerate of space rents.  These can get to be pretty steep making the opportunity seem much less affordable.
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February 19 2011
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See if you can get financing. Once a trailer gets to a certain age financing is not possible. Beyond that look under it. The steel frames have been known to rust away although probably not in california. Some trailers are build with sawdust and glue floors. They are a guaranteed problem given time. If they get wet from a leak the board just falls apart literally. Also, repairs take a lot longer on a trailer than a house because of the construction techniques used in manufacture. Some brands are built fairly well while others are cheap.

The biggest thing to consider is that a trailer is like a car. It goes down in value every year until it is literally worthless. As a place to live it can be fine. As an investment not so much. 1976 1/2 was the first year of HUD approval. Before that is junk. Ask a lender near you how old a trailer can be and get financing for it. It is not that old before owner financing is the only option to sell one.

If you are buying a single wide and would ever consider reselling get around a 70' long 3 bedroom. The old trailers were 10' wide and feel a bit cramped. the 14' wide is alright but when you look a a 16' wide it gets very spacious.

A better buy and domicile is a double-wide. I does not cost a lot more than a single wide for the space and is much nicer to live in.
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February 19 2011
 
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