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Old 10-08-2010, 12:51 PM
 
136 posts, read 258,439 times
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Hey everyone,

I see all of these mobile homes in senior parks 55 and over for $3k to $8k and $300 or $400 space rent that are looking in very good shape.

Where I live, a house falling down is $500k and it is unsafe and the schools suck. This looks like a deal to me.

Are there any added fees? If I buy a mobile home for $5000 and pay $400 for space rent, are there any more fees I have to pay?

In Florida, do I need hurricane insurance? If my mobile home was wiped out by a hurricane, I would just buy another one for $5k and take a chance. Is it mandatory to have hurricane insurance? if so how much $$

Also, if it is space rent and I'm not a share holder, am I paying property tax or vehicle fees? What would this cost me?

Are there any other costs involved in having a mobile home other than repairs?
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Old 10-08-2010, 02:32 PM
 
Location: Central Fl
2,901 posts, read 6,715,210 times
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Well, I'll quickly just throw in a few thoughts, perhaps getting back to you later.
You may also have HOA fees, to help keep up the park, common areas, activities, pools, social centers, etc. Those vary greatly both in cost and what they include.
You would still want liability insurance, in case someone slips on your front stoop, etc.

There is good and bad about this......but a friend of mine who owns a 600k home up north also owns a double wide that he paid a small amount for in a nice 55+ community. He fixed it up, has liability insurance, etc.

He likes his Florida place better and will soon sell his northern palace.

Frank
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Old 10-09-2010, 09:03 AM
tlw
 
57 posts, read 278,800 times
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Just curious ......... where are you seeing the over 55 mobile parks with homes in that price range??
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Old 10-09-2010, 10:08 AM
 
Location: Floribama
9,047 posts, read 16,465,838 times
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The ones you're seeing for $5k are probably the really old ones. I'd recommend looking for one built after 1994 (when the new HUD law took effect) that is rated as 'wind zone II' (or III), these are the ones that usually have shingle roofs and plywood under the vinyl siding, they hold up much better to hurricanes.
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Old 10-10-2010, 08:18 PM
 
Location: Space Coast, FL.
19 posts, read 62,813 times
Reputation: 18
Quote:
Originally Posted by jimnor1713 View Post
Hey everyone,

I see all of these mobile homes in senior parks 55 and over for $3k to $8k and $300 or $400 space rent that are looking in very good shape.

Are there any added fees? If I buy a mobile home for $5000 and pay $400 for space rent, are there any more fees I have to pay?

In Florida, do I need hurricane insurance? If my mobile home was wiped out by a hurricane, I would just buy another one for $5k and take a chance. Is it mandatory to have hurricane insurance? if so how much $$

Also, if it is space rent and I'm not a share holder, am I paying property tax or vehicle fees? What would this cost me?

Are there any other costs involved in having a mobile home other than repairs?
Most 55+ mobile home parks in Florida don't have HOA fees, unless they're high dollar places. Lot rent on most parks include the lot space, water, sewer, garbage, and basic lawn care (most, not all parks are the same). The price that you state of the cost of the home is probably an older one. As someone mentioned, do buy liability insurance in case someone was to get hurt on your property.

You'll have the cost of insurance, a sticker for the window each year (tag fee) if a double wide 2x the fee, and a title fee for the home. Tag fee on my Mom's home is $75, times two, taxes around $100 yearly. If you can afford it blowing away in the wind, most times very few hurricanes, why insure it fully. Sometimes I've seen homes in these prices even come fully furnished all the way to silverware.

It's not a gamble, it's actually a cheap way to live here. Most parks have a pool, and monthly activities, shuffle board wheee. Most people are from Northern states, and if you can deal with waving hello to everyone that passes by you'll get along. If you own a golf cart you'll fit right in even more

Last edited by justaspacecoaster; 10-10-2010 at 08:26 PM..
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Old 10-10-2010, 08:29 PM
 
Location: Space Coast, FL.
19 posts, read 62,813 times
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Quote:
Originally Posted by tlw View Post
Just curious ......... where are you seeing the over 55 mobile parks with homes in that price range??
Just do a search for them on eBay, they have quite a few.
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Old 10-10-2010, 08:50 PM
 
Location: N.H Gods Country
2,158 posts, read 2,703,574 times
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There's a bunch of small parks around here that have deals like that. A friend of mine just bought a nice little 2 bedroom with a carport, utility shed, completly furnished right down to the linen and silverware in perfect condition for under $ 9000. He pays around 400 lot rent per month which includes mowing, rubbish p/u ect. That way he can snowbird for pretty cheap money. He's actually within walking distance to the Gulf so its a good deal for him.
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Old 10-10-2010, 09:02 PM
 
Location: Fort Worth, Texas
10,593 posts, read 22,648,902 times
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Also keep in mind that when we have hurricanes in the area, the mobile homes are the first ones that they evacuate. If you have pets, while there are shelters that will take you, you must be quick. If you or your partner have special medical needs of course there are shelters that take you but again you must be quick.
I feel more safe in my cement block home with a generator standing by.
I recall the destruction the hurricanes caused to mobile homes, even just strong winds wrecked havoc. It all depends on what your willing to put up with.
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Old 10-11-2010, 12:34 AM
 
Location: SARASOTA, FLORIDA
11,501 posts, read 8,433,309 times
Reputation: 4801
Quote:
Originally Posted by Lindsey_Mcfarren View Post
Also keep in mind that when we have hurricanes in the area, the mobile homes are the first ones that they evacuate. If you have pets, while there are shelters that will take you, you must be quick. If you or your partner have special medical needs of course there are shelters that take you but again you must be quick.
I feel more safe in my cement block home with a generator standing by.
I recall the destruction the hurricanes caused to mobile homes, even just strong winds wrecked havoc. It all depends on what your willing to put up with.

Hey Lindsey!
Have not seen you post for a long time.
Welcome back.
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Old 10-11-2010, 08:17 AM
 
195 posts, read 226,676 times
Reputation: 312
I am not fond of lot rent fees, they can go up, and up. You will most likely pay more for a mobile home on your own lot, but that way you know what your expenses are. Also I have been in mobile home parks 35 years old and they all survived hurricanes. ie metal roof, tie down straps etc. Depends on the location, besides you can buy hurricane insurance, a little pricey but affordable.
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