Living in a mobile home

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BadMouth:
I've always lived in the country until my current house. I'm surrounded by huge trees, I'm next to a park, and all the houses in my area are very different from each other, so that helps.
It's a trade off. My last house was half the price with 8x the land, but I had to drive 45 minutes each way to do anything (work, restaurants, shopping).
A big part of my life was spent commuting and maintaining vehicles because the mileage racked up so fast.

I've never lived in a trailer park, but I've dated a few women who lived in them and my grandmother moved to one after outliving her retirement money.
There seem to be good ones and bad ones.
The good ones have annoying management that are on everyone's case, but they are careful about who they let move in and make sure everyone maintains their property.
The bad ones have passive management who just collect the checks. You end up with a bunch of irresponsible and annoying neighbors.

I'm the type of person that doesn't like being told what to do with their property, but when it comes to trailer parks this is how it seems to work.

eds1275:
I live in Canada. In my last house I worked on it for ten years but by the end of the third month it was entirely livable, I just had extensive projects going on.

harveybirdman:
Here's my take.

I work for a large regional consumer bank. We will not do any second liens on these, so you are robbing yourself of the ability to leverage what typically is the largest asset you have for future credit needs.

If you don't think you'll need access to this type of credit in the future, by all means go for it. But the banks don't care how nice it is, or if it's on a slab foundation, based on the depreciation may lenders don't want exposure to the risk.

jdbailey1206:

--- Quote from: harveybirdman on July 26, 2017, 01:22:32 pm ---Here's my take.

I work for a large regional consumer bank. We will not do any second liens on these, so you are robbing yourself of the ability to leverage what typically is the largest asset you have for future credit needs.

If you don't think you'll need access to this type of credit in the future, by all means go for it. But the banks don't care how nice it is, or if it's on a slab foundation, based on the depreciation may lenders don't want exposure to the risk.

--- End quote ---

pbj:
:laugh2:

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