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I'll take Rockford's mobile. (Someone else actually remembers that show. Whew, I feel better).
As for renting cars vs. buying, that is all relative. If you buy the right car at the right price that holds its value, you take good care of it for all repairs & maint., pay it off and drive it for a few years or you get 0% interest for your short term loan (this 60-72 mo stuff is INSANE ) then you will come out ahead in the long run. Financially better off all the way around if you manage your money right for all purchases. I'm way ahead of a lot of people and I have never ever leased a vehicle. Leases have been popular for a long time now but I have never bought into it. Everyone that I know personally that has leased a vehicle has ended up being upside down, owed more at the end of the lease because of mileage/wear & tear issues and then had to finance a new car along w/ what they still owed on the lease vehicle. Or they finance that final 36th Balloon payment for another 5 years and they are totally upside down. And then whine and complain (more like the green eyed monster) because someone that has driven a car that they owned free and clear for 5 years gets a new one.
LOL Sunnydog, I was beginning to wonder the same thing. He sells mobile homes. If you seriously are considering it and are having to use this forum for support to help you back up your feelings for it, you may need to reconsider your purchase. All that means is that deep down you have doubts yourself about it. I've learned that I know to follow my gut instincts when it comes to large purchases (and I've bought my fair share of land/houses/property for home and business). If a roadblock is thrown up stop and think if it is really what is meant to be and someone/something is trying to tell you that "this ain't it for you".
Ya know, I'm starting to wonder if you're a mobile home salesman. 175 mph wind gusts?? Hardly any houses can withstand that, heck impact glass only good up to around 150 mph. Code for houses in most of FL is 145 mph winds max. Any mobile home you see in MLS for $50K including land would likely disentegrate in a fart, let alone a cat 5 hurricane.
I asked him if he was a mobile home salesman too! lol Seems a bit passionate.
Need Aff. Home, I have read many of your posts and you seem to change your mind every minute. You sometimes border on hysteria (I say this not to offend you or belittle you).
Just take a deep breath.
Everything will be fine. If you are really unsure how to make the most of your money, cut on unnecessary expenses (starbucks, eating out, whatever...), live below your means, and save/invest.
When you are older and more experienced, you will understand that there is no perfect answer. I have rented when I should have owned, and I have owned when I should have rented.
I know you are getting mixed signals in South Florida. Please understand that this may possibly be the apex of real estate insanity. I can understand why you feel they way you do.
Find a career that makes you enjoy getting up in the morning. Don't worry too much about housing as long as you have your family, friends and health.
Yes, housing, it's important. Believe: I am totally obsessed as well. Just don't let it be an excuse while other things pass you by. It's just a place to sleep.
Hey Muggy - that was good advice!
Even calmed ME down!
Hi Need_A_H!
I agree - don't worry so much about buying at the mo...
I tend to think myself to death too sometimes!
Take a breather...
Don't worry...Be Happy...!
I remember answering your very first post on this forum where you mentioned buying a mobile home as a viable option and I said don't do it! Terrible idea.
I'm not sure I agree. The depreciation value on the mobile home is too rapid.
I do wonder about modular homes- are those any different? They look like houses on the outside......do they depreciate slower?
Would depreciation matter if I buy a mobile home almost free to begin with?
Quote:
Originally Posted by SunnyDog
Ya know, I'm starting to wonder if you're a mobile home salesman. 175 mph wind gusts?? Hardly any houses can withstand that, heck impact glass only good up to around 150 mph. Code for houses in most of FL is 145 mph winds max. Any mobile home you see in MLS for $50K including land would likely disentegrate in a fart, let alone a cat 5 hurricane.
Nah. Im just typing as I see in the newspaper. You can check the newspaper yourself, they claim 175mph winds! Well if I end up losing the mobile home, just buy another for very cheap.
Quote:
Originally Posted by SunnyDog
Some folks DO rent their cars--that's what car leasing is.
Mobile homes almost never appreciate unless you own the land under them. Houses don't actually per se appreciate neither, the structure depreciates while the land under it appreciates. Locations may appreciate as well, but most mobile homes are in undesirable areas where the location does not. If you can get a mobile home with land or one that's on the beach (like Jim Rockford's on TV) then you might have a shot at appreciation.
Houses have appreciated so long that the bubble correction is underway and house prices are on the downtrend. Ours lost 70k in value, it was overvalued as were almost every others. There are 4 people in our neighboor selling for a ridicuolous price, one guy's asking price was almost double fair market price! Of course no one bought and it doesnt seem anyone is even looking. Either they arent serious about selling and just wishful thinking or they havent heard about the house bubble and are under the false illusion that houses are still going up 15% a year. I got nothing against anyone buying a house, just dont get ripped off. Negotiate an offer with the seller that will take into account for the correction of the bubble.
Quote:
Originally Posted by shannon94
I asked him if he was a mobile home salesman too! lol Seems a bit passionate.
Its the only affordable option for the greater majority of people in Florida. Take the 25% to 30% rule or the 1-2 ratio and the median salary of $27k a year and they can afford about $50k of house at most considering other expenses like eating and driving.
Muggy said:
"When you are older and more experienced, you will understand that there is no perfect answer. I have rented when I should have owned, and I have owned when I should have rented."
Everything is a compromise. I get the choice of a mobile home in Florida or a house up north, such as in a small rural town in West Virgina. Millions of others face a similar dilemna.
Quote:
Originally Posted by elfyum
Hi Need_A_H!
I agree - don't worry so much about buying at the mo...
I tend to think myself to death too sometimes!
Take a breather...
Don't worry...Be Happy...!
Hey sweet friendly lady its hard not to worry. I am reserching my options and checking out house prices in more rural areas. There are alot of cheap areas I can afford but theres compromises such as cold winters, being half hour from a city and major shopping, etc.
I remember answering your very first post on this forum where you mentioned buying a mobile home as a viable option and I said don't do it! Terrible idea.
Some have said the same too. I guess it boils down to the choice between staying in a desirable location like Florida or moving up to a northern state and living in a small rural town. Millions have been priced out of a house.
Needaffordable, I've read through this thread twice now and I can see that all you're looking for is answers. You seem to be in the same situation that a lot of us are in and you're only exploring your options. We are also considering a move to a warmer climate in the next year or two and Fla. is high on the list since we have family there. We no longer want to take out a mortgage on a home. We also don't have 300,000 to buy a home. Not everyone has the resources to buy a house in Fla., but it doesn't mean that you don't deserve to live there if you so chose.
After posting to you to read Ocala4Sale, I did a bit of research on the mobile homes there. They are extremely reasonable. I also did a search on different areas in Fla. and believe me, you could go out and buy a new one for some of the prices that are being asked. So if they're in a good location, they will not depreciate if they're well-kept like those on the internet appear to be.
You said your options are a house where it gets cold and snowy OR a mobile home in Fla. where you'd like to live. Life is too short. You will probably be much happier in a mobile home in Fla. then a house in a location that you'd rather not be in. Mobile homes have always had a stigma attached to them, but I've seen some that would put a lot of houses to shame.
Although I understand that you aren't interested in renting, that's what we would be interested in doing. I guess it depends on your age and where you're at in life. We'd just rather pay our rent and have someone else do the upkeep and pay the insurance and taxes, etc. And yes, I realize that in a round way about it, the renter actually pays for those things. I guess a lot of things come into play to determine how we want to live and what we want to live in. Age, physical capabilities, income, jobs, etc. Follow your heart and do what you want to do and good luck to you.
I havent made any decisions yet, but some of the towns in WV are looking good! pratically no crime, extremely cheap houses and a laid back country. After having checked out some of the really beautiful classic houses for $50k in WV, I feel I can led a better quality life there than a mobile home here. I know its about location+mobile vs. house. Here in s. Florida the cheapest land ive seen was $79k for a sixth acre vacent lot. The mobile home would cost me $15-20 a square foot for an older model or $30 for a newer model. Id be looking at around $30k to spend on a mobile if I were to get a nicer one.
Because land is too expensive in s. Florida, id have to go n. Florida. There, I can find land much more reasonable. The cheaper land is $10k for 1/5 to 1/4 acre or $40k an acre. Nicer land is still affordable at like $30k for 1/4 acre. The land plus a mobile home could set me back $60k, more or less depending how much land I buy and how big/nice mobile home I buy.
I realize for the same money, I can buy land with a bona fide house in West Virginia! Theres a large selection of houses+land for around $50k. The size of the house is about equal to the mobile home. This goes to show that location, location, location is everything! Youd have to be really rich to have both! or everything!
The upkeep shouldnt be difficult nor expensive if you buy a low maintainence house or condo. Its cheaper in the long run to own than rent
I live in a double wide mobile home...would I do it again you bet...In GA the developers and builders do not need to be licenced...I bought a quality home, with steel frame, great floor plan that I was able to modify to suit my needs.
my siding is warrentied for 30 years and my roof is for 20...same stuff as a stick built. Also, around here if something goes wrong with a stick built and you try to contact builders, developers, contractors...they just point fingers...with my MH I make one phone call.
The old ones have a bad rap...you buy a quality new one it will last just as long if not longer than a stick built and most will let you customize the floor plan, pick your colors, fixtures ect.
I plan on buying another one when I move, I pick out the property I want, pick out the home I want, have it put where I want....no dealing with someone else's idea what is good and what is not.
Just make sure if you buy one, you go the extra mile with a good reputable dealer.
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(Someone else actually remembers that show. Whew, I feel better).
) then you will come out ahead in the long run. Financially better off all the way around if you manage your money right for all purchases. I'm way ahead of a lot of people and I have never ever leased a vehicle. Leases have been popular for a long time now but I have never bought into it. Everyone that I know personally that has leased a vehicle has ended up being upside down, owed more at the end of the lease because of mileage/wear & tear issues and then had to finance a new car along w/ what they still owed on the lease vehicle. Or they finance that final 36th Balloon payment for another 5 years and they are totally upside down. And then whine and complain (more like the green eyed monster) because someone that has driven a car that they owned free and clear for 5 years gets a new one. 
If you seriously are considering it and are having to use this forum for support to help you back up your feelings for it, you may need to reconsider your purchase. All that means is that deep down you have doubts yourself about it. I've learned that I know to follow my gut instincts when it comes to large purchases (and I've bought my fair share of land/houses/property for home and business). If a roadblock is thrown up stop and think if it is really what is meant to be and someone/something is trying to tell you that "this ain't it for you".
