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should i buy a mobile home? what are the advantages and disadvantages

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March 22 - US
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Answers (3)

Profile picture for sunnyview
Mobile homes depreciate and  have a more limited lifespan than stick built homes. They are more like cars that lose value every year with age not like a house with property that increases slowly in value over time in most cases.

Mobiles are inexpensive, common in some areas and they can fix your expenses if they are on owned land. The mobile value may go down in that case, but the land will often hold or rise over time. A mobile in a park with slot rent is a liability since moving them is expensive and selling them is difficult.
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March 22
IN Florida they can be turned into "Real Property but there is the disadvantage of coming home and finding your home flattened by a strong wind. 
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March 22
I can't think of many advantages other than it is less expensive to buy. They go down in value unlike a house that can increase which is why I don't think much of them. They are harder to get loans for because lenders look at them as personal property, like a car, and why they have a title, like a car.
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March 22
 
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