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Purchasing a mobile home temporarily to save money?

I'm now 28 years old and I got a new job and something just recently clicked for me. I'm a resident of Oakland California and work in San Francisco with a good job and decent wage. My fiance and I currently have 11k saved and I am able to continually save about 1000 per month. We are currently paying appx 1600 a month for rent and have been doing so for about 4 years now. If anyone knows about california real estate or land you will know that it is extremely expensive near urban areas and slightly cheaper out in the burbs in the Bay area. Right now I can't imagine committing myself to a 400k loan and being glued to that until im 60 in the hopes that it appreciates. I'm looking more towards the views of being self reliant from the feds. I've looked into land for residential build and even considered building our own home.

There is a stigma about trailer/mobile/manf homes that is very wrong in my opinion. People tend to judge and think lesser of trailer people. However, I find mobile homes for 30k near the urban areas and can pay this off cash in a year. This would nearly save us 15k a year after lot fee's.

I realize that mobile parks depreciate and you often have to pay a land fee to rent the space.

Has anyone done something like this before as a strategy to save money? I feel like unless you are extremely rich then saving money would take forever. Even with a 70k+ a year salary. I feel like if we can sacrifice for 4-5 years then my 30's can be very debt free and i would be able to purchase a home or land somewhere down the road.

any thoughts are appreciated!

6 Answers

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  • ?
    Lv 7
    8 years ago
    Favorite Answer

    I hate mobile homes that are in mobile home parks (ones on land you own are better). The problem is the lot fee is so expensive and goes up so much (and the houses wear out so quickly) that you really are just renting the place, in a manner of speaking. If you hold the place for 20 years it'll be worth almost nothing (worse - you haver to pay someone to haul it away) and you have been paying that lot fee all this time. I'd suggest buying a modest home somewhere (even if its further out - they exist) and living there. I agree that $1600 is really pricey, but a mobile home is not, in my opinion, the way to go - it may be modestly better than your current situation but there are still better options out there.

  • 5 years ago

    2

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  • 8 years ago

    Don't do a mobile home. They depriceate so fast. My parents bought one brand new set it up on a lot and went to sell it 6 years later and ended up having to eat a huge loss and had to pay at closing the rest of their mortgage. The person that bought it had to move it immediately off the trailer court lot. Also their lot rent increased so much. You have to pay all utilities and maintain the yard to the trailer courts standards. Unless you have your own land its not worth it and don't expect to turn a profit when you move. I would try to find a cheap house that you can upgrade while you live there and flip it for a profit when you move out. Or try for a cheaper place to rent to save you more. You have almost 20 grand a year going out in rent.

  • 4 years ago

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  • Anonymous
    5 years ago

    Greeting cards Candles anything on Ebay nutritional supplements jewelry pet food Start by considering what you would use yourself. Then decide what you might like to sell to others and see if there is a company that sells that.

  • ?
    Lv 7
    8 years ago

    I think it sounds like a wonderful idea. And that way you can save money for the future.

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