Reply to Any thoughts on mobile home park?

Forum Index » Real Estate

Reply to "Any thoughts on mobile home park?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]My husband and I looked into one. The monthly fee for the lot was $3,000 and I think there was also an HOA fee. So the place itself was cheap, the location was great, not much maintenance but that's ridiculous. I think the price is not locked in so you may pay more in the future. [/quote]

This price is like renting a house.
Why would anyone rent there ?[/quote]

I have two houses in mobile home parks and my SIL also has two, with one overlapping.  None are near $3k per month.  But, the rent isn't cheap - ranges from about $700 to $2,000 depending on the lot, with a discount for paying the whole year upfront.  Here's the thing.  I have brand new 2,450 square foot homes (well brand new when we bought) that are in prime locations with amazing water views and water access for boats and recreational activities, which we love.  I could not ever afford to live in such a nice place any other way.

Mobile homes of today are nothing like what people typically think of.  (and they actually aren't called mobile homes - they are manufactured homes).  One of mine is an extended double wide big rectangle where almost all rooms have a great water view and the other is a triple wide put together so that it has interest.  Ceilings are high - 9-10 feet.  There are no HOA fees at any of the places I or my SIL owned.  You pay lot rent, which covers the upkeep (and the upkeep is prime), taxes on the property itself, and whatever amenities your community has, like a pool, dog park, restaurants, security, golf courses, boat launches, boat slips, etc.

In addition to the cost of the structure or structures if you have sheds and garages (which you get a mortgage for like any other home if you don't have cash to pay), you pay the lot rent, insurance on the structures only and taxes on the structures only (which is really cheap - like a couple of hundred a year or about 5% of the taxes on my regular house where I own the land).  These homes are highly energy efficient so in Delaware I pay $600 a year for heat and $750 a year for electricity.

IME the reason people do this is because it's the only affordable way to live in a highly desirable location with amenities that would cost you close to the lot rent if it was an HOA.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics