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Mobiles

Section 2 - Chapter 6 (continuation)

You can pretty much do what you like with mobiles when you own the land. I rented rooms in my mobile home, and eventually took in more money than it originally cost. Put a shingled roof over an older mobile and it will last for many more decades.

Mobiles are cheap to maintain. I once had a furnace die in a mobile home I owned as a rental. This is about the most expensive repair you'll have in a mobile. I replaced it for $1,200, which is much less than a furnace for a larger home. For $200 you can tar the roof, or for $30 if you do it yourself, instead of $5,000 to re-shingle a traditional roof. Windows, plumbing, and doors are all cheaper.

Property taxes, because they're based on value, are less. Insurance is less because you're insuring less value. Just be sure you can get insurance before you buy. Some old mobiles may be uninsurable in some areas.

I wouldn't buy a mobile home if house prices for houses are just as low in the area, but this is a rare occurrence. We did buy a house in Anaconda, Montana for $17,500 - less than mobile homes for sale there. In most areas, the typical starter home is at least twice as much as a mobile home on land.

Will your own needs and prejudices let you be comfortable in a mobile home? It's something to consider. Sometimes they're in areas you don't want to live (true of houses as well). Some mobile home subdivisions are populated with retirees. These tend to be neat, clean and quiet neighborhoods. These are personal things you have to consider.

Why buy mobile homes? The advantages are clear for young people starting out, who may have no other options. It may also be your better option, when you consider the lower price, the simpler, cheaper maintenance, lower monthly payments, low property taxes, lower insurance costs, and faster equity build-up. Why not buy mobiles?

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