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Old 02-02-2015, 04:35 AM
 
1 posts, read 918 times
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I am looking at mobile homes online and it seems like an affordable way to live in southern cal. Is anybody doing this, and if so, is it working out?
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Old 02-02-2015, 03:29 PM
 
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Mobile homes are pretty much the worst of both worlds in terms of deciding between renting or buying. You have the initial down payment and upkeep costs of your "house", along with the instability of not actually owning your own land (I assume, usually living in a mobile you only own the trailer) and being held to the whims of the lot owner. That on top of usually terrible resale value and lot rental fees for the land you are "borrowing" and I would never seriously consider it.
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Old 02-03-2015, 01:16 PM
 
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Have you looked at the rental fees for the spaces? It's in the thousands of dollars. Plus...I don't know that I'd want to have a mobile home in active earthquake territory.
I'd try renting one before you'd consider plunking down any of your own cash.
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Old 02-04-2015, 12:43 PM
 
823 posts, read 1,783,703 times
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Yeah, I agree with everyone. They seem affordable, don't they? You'd think they would be! I looked at buying one during the housing boom (against my real estate agent's advice) and found out many negatives.

- space rent is extremely expensive ($900+).
- mobile homes where you own the land is also costly.
- mobile homes can be very cheap. Yes, some of them look like trash trailers, but newer ones are gorgeous! If you have to finance a MH, financing is different than regular single family homes. More strict and higher interest is what I remember.
- resell is not good at all.

Put all this together and your'e actually better off renting--I know, bummer!
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