Would you buy a mobile home in the Bay area? (Morgan Hill: apartment, rental)

[AuroraRedwinters]

I am currently in a situation where I would like to move out in the next 6 months and get my own place. I currently have approx. $25k saved up, but can easily save another $5-10k in the next 6 months.

Anyway, I am torn between renting an apartment and buying a mobile home (as a first-time home buyer) in the area since that is all I can afford. BUT I've been impressed looking at some of the mobile homes in the area; they definitely are nice and spacious on the inside! Factoring in the lot rent (which I've seen anything from $800 - $1600/month), I feel it aligns pretty closely to what I would pay for rent for a 1 or 2 bedroom apartment in the area. Plus I would not have to share a floor or wall with anyone.

As someone that is looking to stay in the area for the next 10 years at least, would you consider buying a mobile home? What are the pros/cons here?

[eureka1]

I wouldn't touch a mobile. No investment value.

[silverkris]

Mobile home parks are also vulnerable to redevelopment - due to the rising cost of land in the area. There have been fights over closures and evictions over the years.

[llowllevellowll]

I'd be more likely to buy a 5th wheel and utilize one of the rental spots in Morgan Hill. You're looking at $1100ish per month for the spot and probably $600-800/mo if you finance a brand new 5th wheel. For a couple hundred bucks, you can pay someone to move your 5th wheel into place if you don't have a truck. The commute would turn me off to it and is why I decided against it personally.

Nice thing is if you decide to move, you can just haul it away with you and go for greener, cheaper pastures. That same spot in Arizona will be $350-$400/mo and your 5th wheel could be paid off.

Just an alternative idea.

[2sleepy]

Originally Posted by llowllevellowll

I'd be more likely to buy a 5th wheel and utilize one of the rental spots in Morgan Hill. You're looking at $1100ish per month for the spot and probably $600-800/mo if you finance a brand new 5th wheel. For a couple hundred bucks, you can pay someone to move your 5th wheel into place if you don't have a truck. The commute would turn me off to it and is why I decided against it personally.

Nice thing is if you decide to move, you can just haul it away with you and go for greener, cheaper pastures. That same spot in Arizona will be $350-$400/mo and your 5th wheel could be paid off.

Just an alternative idea.

Excellent idea! Buying a mobile home is risky, if the mobile home park goes out of business you're screwed, there probably aren't any empty spaces in mobile home parks for a few hundred miles. And if the OP eventually buys a home with a decent sized lot they might be able to put the 5th wheel in the yard and rent it out.

[5thgenSF]

due to the lot rent they are very hard to sell. i had a 1963 mobile in san jose back in the 90's. lot rent was only $400ish but other people had triple the rent. they couldn't sell. the realtors were a shady lot and the neighbors were awful! i had the kid next door breaking in and stealing from me which went on for months, long story short.

a lot of the parks are on iffy terrain. typically east of 101 which is also the sketchier part. one year we flooded (lots of them flood in palo alto) and it had something to do with sandbagging at the creek that hadn't been done. all i know is that we were the low rent district and so nobody really cared.

the managers of the park changed over about four times in the eight years i was there. constantly getting notices in the mailbox (all of us got them) about rules broken and blah blah blah. they wouldn't target the actual rule breakers, they would just harp at all of us. it got old. offenses like parking in the wrong place and kids peeing in the pool. yikes. i never ever used the pool!