Mobile homes in Maine (Portland, Bangor: lease, mortgage, buying a house)

[lovemaine]

We are thinking about purchasing a mobile home to make it easier for our dream of living in Maine to become a reality. The plan would be to sell our house here in NC, pay cash for a mobile home in Maine, and live in it for about a year. (I know we'd still pay a lot rent, but at least there wouldn't be a mortgage for a little while.) Then once we're settled and get familiar with the area we would purchase a house and either sell the mh or rent it out for added income. Does anyone know of a decent mobile home park in the Bangor or Rockland area? Or anywhere north of Portland for that matter. We've never lived in a mh before, so this would all be new to us. All you Mainers on this board are very helpful, and I'd really appreciate any help you could provide ! Thank you!

[Elcarim]

IMHO, you'd do much better to rent if you only intend to stay in the home a year or so. If you don't know anything else about MHs, know the most important thing - they lose value like cars and are very hard to re-sell, as they are very hard to get a mortgage on once they're used. My brother is in the business. He sells them and would never EVER buy one, he says.

We are going to lease a house for the first year or two when we move up in '08 so that we can get acclimated to the different areas fully before diving into a home purchase. I completely understand your logic. There is a huge difference between visiting a town and living in it, so we want to make sure we choose wisely before putting serious money into a home and don't end up choosing the wrong town for it's surface beauty.

[mainebrokerman]

Originally Posted by Elcarim

IMHO, you'd do much better to rent if you only intend to stay in the home a year or so. If you don't know anything else about MHs, know the most important thing - they lose value like cars and are very hard to re-sell, as they are very hard to get a mortgage on once they're used. My brother is in the business. He sells them and would never EVER buy one, he says.

We are going to lease a house for the first year or two when we move up in '08 so that we can get acclimated to the different areas fully before diving into a home purchase. I completely understand your logic. There is a huge difference between visiting a town and living in it, so we want to make sure we choose wisely before putting serious money into a home and don't end up choosing the wrong town for it's surface beauty.

well said, elcarim!

[lovemaine]

Originally Posted by Elcarim

IMHO, you'd do much better to rent if you only intend to stay in the home a year or so. If you don't know anything else about MHs, know the most important thing - they lose value like cars and are very hard to re-sell, as they are very hard to get a mortgage on once they're used. My brother is in the business. He sells them and would never EVER buy one, he says.

We are going to lease a house for the first year or two when we move up in '08 so that we can get acclimated to the different areas fully before diving into a home purchase. I completely understand your logic. There is a huge difference between visiting a town and living in it, so we want to make sure we choose wisely before putting serious money into a home and don't end up choosing the wrong town for it's surface beauty.

Thank you for your reply ! You have some good points. The reason we thought about buying a mobile home was because it would have allowed us not to pay rent or a mortgage. That way we could sock away more money (in addition to the profit of our house sale) towards buying a house. Since this will be our last move, we want to be able to buy just the right house in the nicest town. We'll definitely consider renting too though. I've found quite a few good options on craigslist. Thanks again and good luck with your trip to Maine! Can't wait to hear what your thoughts are when you return. Keep us posted!

[forest beekeeper]

There are a couple of trailer parks in Alton [just North of Bangor].

Milford has one.

And I think that there is one in Orono near the UM campus.

[bigchuckie]

Dont buy a MH you will be saddled with it. We made the mistake in 95 and it took 3 years to sell it. the only reason it did sell was we put it on a piece of land

[nynoggin]

My husbands son is a banker for TD bank north up in Bangor We live near albany new york. Buying a trailer is not the most profitable thing too do. The bank wants too see if you can pay the mortgage whether it be renting a place as long as you show them consistency. What you need too prove is that you have the responsibilty too pay. Of course save your money you were going too place on a mobile home and place it in the bank in which you will be writing your mortgage with or not others may fight too sell you a great deal any ways good luck enjoy maine....

[patsfan]

Birch Hill estates in Bangor is very nice and there is also a nice one on Essex St on Bangor. Not sure about the Rockland area.

[patsfan]

Originally Posted by holt4fam

We are thinking about purchasing a mobile home to make it easier for our dream of living in Maine to become a reality. The plan would be to sell our house here in NC, pay cash for a mobile home in Maine, and live in it for about a year. (I know we'd still pay a lot rent, but at least there wouldn't be a mortgage for a little while.) Then once we're settled and get familiar with the area we would purchase a house and either sell the mh or rent it out for added income. Does anyone know of a decent mobile home park in the Bangor or Rockland area? Or anywhere north of Portland for that matter. We've never lived in a mh before, so this would all be new to us. All you Mainers on this board are very helpful, and I'd really appreciate any help you could provide ! Thank you!

Don't forget the lot rent fee's , some are very steep. Have you considered buying a piece of land. putting a used trailer on it and building your home on the property. Big initial expense for septic and well but they would also be in place for your home.

[forest beekeeper]

Originally Posted by patsfan

Don't forget the lot rent fee's , some are very steep. Have you considered buying a piece of land. putting a used trailer on it and building your home on the property. Big initial expense for septic and well but they would also be in place for your home.

Driving around I see this option a lot.

Folks buy land, drop in a well, septic, power, phone, and park a trailer.

Then later they can add a barn, garage, and even build a roof over the trailer with front and back porches.