Living in a mobile home

[eds1275]

So here is the deal: I was married, then divorced out of nowhere. The woman pretended that she was some sort of victim, and that made me look like I was some sort of aggressor and bad person. We had to sell our home, because she bullied me into it. When it sold all the money ended up in her bank account and left me high and dry. I got a lawyer and ended up with a pocket full of pennies and unless I can drop another 10k on it to reopen the case files basically I am done. I have that money but it's better spent on a down payment for a new home I can call my own and get on with my life. Reopening the case doesn't mean a different outcome and I want to stop all the nonsense and just get back to living.

I've tried getting 2 houses already. Where I live, being pre approved for 280,000 doesn't get you much. I have a weird job in a niche market so I don't waqnt to move away and try to get myself reestablished. The two houses have been within budget but the mortgage lender didn't want to throw money at houses that had minor issues. I am annoyed but found a nice "double wide" mobile home at the end of a street with a nice garden, deck, hot tub. $150k which is well within budget.

I'll admit, I look down on trailer parks and the people residing within. I know there's no reason for me to think like this. Any thoughts on trailer park life? Anyone have any experiences or advice?

[Slippyblade]

Mobiles don't appreciate.  They are considered vehicles, and as such, will go down in value over time.  Unless something weird is happening in your area...

[eds1275]

Well if anyone ever bought one thinking they were going to make a profit, then that's just silly. I mean I'm not keen on the idea but it's growing on me.

[Howard_Casto]

I've lived in mobile homes my entire life.  They are easy to maintain and with regular maintenance and upkeep they'll last well beyond their intended lifespan.  Also that thing about them being considered a vehicle is a good thing come tax time.  Depending upon the laws in your region your insurance will be more like car insurance and depending upon how it's anchored it might not be considered a permanent residence which is good for tax purposes. 

The only thing you have to worry about are water lines.  Triple the insulation you'd put on them if they were in houses because without a brick foundation they aren't insulated enough and they will bust.  Have a selection of the right size compression fittings handy just in case.  If you are unlucky enough to get a leak the pex tubing they put in these things can be cut with a sharp knife and a compression sleeve can be put on with a couple of monkey wrenches and about 10 min of work.  Personally I use the slip type compression fittings which don't even require wrenches, but some people don't like them for some reason.... I've never had any trouble . 

[fallacy]

Well since it is not any kind of investment anyway why that over just a 1-bedroom apartment. Don’t tell me with interest on the loan and everything else that you are going to save more money on that than a small apartment because you are not.

It would be better to get a small apartment save up money and get a real place that increases in value over time instead of decreasing in value or in another 15 years you will look to see you still have nothing of value to your name.

[eds1275]

I didn't list an apartment as an option. Apartments are gross, they smell in the hallways. You don't get a yard or a patio big enough for a set of furniture and a bbq. I have more than one vehicle, and a large collection of tools and yard equipment. I enjoy sitting in the grass. When I get home from work at 230 in the morning I don't want to pick up an acoustic guitar and have people pounding on my walls, floor and ceiling about it. The money I'd be losing by not living in a concrete beehive is negligible; I'm not really thinking of this as a long term, and definitely not 15 year option. Maybe 5 or 8 years, enough to build a pile of cash and hopefully try to get what I pay for this place. If I improve the lot and keep the building intact I imagine it won't be an unrealistic idea.

[ark_ader]

I looked at this, and while it might seem a nice idea, there are problems associated with it.  Now it depends on how old you are.  Personally I would (and did) buy a house if I was much younger, with the crap that usually comes with it like wife and kids.  But if I was single and in my 50s or about, I would question the importance of buying a house when I know I would not pay it off.  I know the benefits of owning a house and it has its fair share of pros and cons.  Yet 2008 told me a huge lesson: live within your means.  A house and a mobile home is the same in my opinion.

I do not like an idea of a typical mobile home.  They are usually 24K minimum plus land and septic, electricity etc.  They are a huge pain on the ---uvula--- to move and they usually fall apart if you do, and it costs lots to do so and where to put it etc.  Buy a used one and it is like buying an old car.  Also the land it is on might be rented and that could go up in price too and you are locked in with nobody to sell it to unless you find a sucker.

I would lean to maybe a tiny house with no septic (composting) and solar for 15K or maybe less if you are a carpenter.  Or perhaps a van conversion or RV.  Lots to think about.  But I would have a big think on a mobile home unless you already have the land and it is zoned.

Sounds like your recent experience, is better suited to something smaller and less attractive to the nut job that usually comes calling.  I would hate to experience that, and I am sorry you did, but if you can support yourself without the daily drive, think about getting out and finding something better in this huge country of ours.  I'm looking into that, to save 1K a month in rent and having the freedom to travel and afford it.  Besides when I am dead who would give a crap?  You can bury me in it.   

http://thetinylife.com/what-is-the-tiny-house-movement/

[jennifer]

I'll admit, I look down on trailer parks and the people residing within. I know there's no reason for me to think like this. Any thoughts on trailer park life? Anyone have any experiences or advice?

Preconceive judgy much?.... Yes go for it, Nothing hotter to us chicks than a bathtub planter, and a tire pile. 

[SlammedNiss]

If an apt. isn't your thing and you're actively looking at mobile homes, why not just a cheapo travel trailer and find a mobile home park that will allow you to park it. Same outcome, but would likely be a lot cheaper.

Edit:
I see ark mentioned it above already.

[Nephasth]

Currently living in a camper. On my 20 acres, not a trailer park. Building my own dwelling out here next year. You don't need a new house. You need fewer bills and debts.

[JDFan]

Currently living in a camper. On my 20 acres, not a trailer park. Building my own dwelling out here next year. You don't need a new house. You need fewer bills and debts.

^this - depending on where you live buy a piece of property you like and get a small dwelling ( mobile home/trailer/camper depending on wht fits your needs best and budget) With buying the land you know what the monthly costs will be and can always build a house on it later if you find the mobile home doesn't suit you -- Not sure where you are but 150K for a used double wide is high - Unless it comes with a property it is placed on. (as ARK said --- "with nobody to sell it to unless you find a sucker." -- Don't be the sucker he is talking about in this scenario by buying the old one someone else is trying to unload !! ) - One thing to keep in mind is sometimes it is cheaper to buy one from the Mobile Home factory even if it is out of state and have it moved to you rather than buying one local - and the benefit to that is you can have it partially built to your specification ( ie. if you want 2 full Master suites at the two ends of the thing or 1 master and a couple smaller rooms - etc. )

[pbj]

We talking a modular house or something you tow behind Nephs compensator truck?

[fallacy]

Honestly the increase in your property value is not so you can come out ahead it is just so you can break even with inflation every year. Federal Reserve prints and pumps out more money into the economy based on nothing, as a result every year money becomes 3 to 5% more worthless than the year before. That’s the reality of are debt based economy, only way to combat that is to put your money into something with a track record of increasing in value every year.

[thomas_surles]

Damn son. I can get a mansion around here for 150k. Cost of living is low. I would be looking at 20-30k for a double wide. But pay is low here as well so there's that.

[Howard_Casto]

Currently living in a camper. On my 20 acres, not a trailer park.

Well yeah there's that.  Trailer parks objectively suck.... I'm on two acres. 

[Nephasth]

We talking a modular house or something you tow behind Nephs compensator truck?

Still jelly?

Still have that awesome truck! Owned it 9 1/2 years now. Hardly a compensator, still all stock except tires and battery.

[jdbailey1206]

I used to work for a satellite company and some of the most down to earth people were the ones that lived in trailer parks.  Don't get me wrong there were some places where I would question whether or not I would make it home that night but for the most part the people were some of the nicest.  What it really comes down to Eds is where you want to live in the end.  It sounds like you, like me, hate living on top of someone.  I too hate apartments.  But you can find some nice houses within your price range.  You don't need to settle for a place in a trailer park if you aren't happy.  I (PRESUMABLY), like Howard, live in a modest 1200 sq ft. trailer in the country on one acre.  It is considered to be a modular but if I don't tell anyone they assume its stick built.  Its on an acre and I have a 30X40 barn.  Keep looking and if you are unhappy with a trailer park don't settle. 

[eds1275]

The thing is I can't afford a house that doesn't have enough issues to scare the bank into refusing to lend on a home. There was a foreclosure that was a steal that they said no to, and another home that admittedly had a foundation issue - but I guess they don't know me personally and my drive to fix every broken thing I see. I had an engineering company come and look at it, and the price for the home PLUS to lift the house and fix it was still less than what I qualify for but in the end it isn't my money to do with as I please.

This trailer is actually really nice, has a workshop, a patch of lawn, and a giant deck. The real estate photos look great, but don't they all... I get to see it friday but I think I may just go for it. Really my other option is to wait until January until I have enough years at the same employer to not be considered a risk. But the sooner I can settle in my own space the better for me.

[BadMouth]

I bought a fixer upper and with repairs/improvements feel like I'm making 2.5 mortgage payments every month.  I'm sure it will be better in the long run, but I've had no life the past few years and probably won't for another three.

I was a bit miffed when a house close by sold for 70k at auction.  I wished I could have gotten a house for that price.  But then I saw all the work they had to do to it.  First they jacked it up to replace the basement/foundation, then it looked like they had to rip all the windows out, sheathing off and reframe most of it.  Roof needs replaced of course.

Don't think you can do quick HGTV makeovers without a crew and pile o money.  It takes forever with one person only working a few weeknights and weekends while nickel and dime-ing it.

I think it's been 3 years for me.  Bedrooms, living room, and bathroom are 100% done.  I still owe 6k from borrowing money for big ticket items like having the main support beam replaced and whole house replumbed(will be paid off in a year).  I'm having a new roof put on this year (because I feel too old to do it myself).  Gutters look like crap, but are functional so they'll have to wait.  Still have a crappy kitchen, zero landscaping, and the curb appeal sucks.  The end is not in sight.  When it is, it will be time to build a garage.

[danny_galaga]

Damn son. I can get a mansion around here for 150k. Cost of living is low. I would be looking at 20-30k for a double wide. But pay is low here as well so there's that.

This. Here in Australia prices are crazy and I look longingly at US prices. The kind of prices you just mentioned is what I see in regular towns etc. Maybe he lives in LA or something?

[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]

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.

[pbj]

 

[Howard_Casto]

We are several posts in and nobody has mentioned living in a van... down by the river.  I applaud you all for your restraint. 

[ark_ader]

We are several posts in and nobody has mentioned living in a van... down by the river.  I applaud you all for your restraint.

You might want to read my last post again with your good eye.

[Howard_Casto]

You didn't do the Farley reference, so it doesn't count.  Thanks for playing though. 

[fallacy]

someone posted this on facebook, I want my own framed copy for like the bathroom or something.

[harveybirdman]

dammit Farley why'd you have to kill yourself with drugs.

[ark_ader]

someone posted this on facebook, I want my own framed copy for like the bathroom or something.

Stick it on the wall opposite your bed.  When you wake up and don't want to go to work, it will serve as a reminder where you will eventually wind up.

Its tempting though. 

[Ond]

I'd say keep your costs to a minimum while you regroup and move forward. Housing is insanely expensive and overvalued in the east coast major cities in Australia.  For people in Perth the idea that getting into your own home (i.e. a mortgage) to secure equity/credit etc. has for many, proven false as the property values came tumbling down. These people now owe more to the bank than their properties are valued at.  Predictions are that the Melbourne and Sydney housing price bubbles may well burst in a similar way.

Doing what every one else is doing is not always the best approach to life.  I sold my place, paid off my debts and am happy to rent for a couple of years while my wife and I change a few work/lifestyle things.

I think what Neph is doing is pretty cool.  That may not suit alot of people, but I'm planning on moving into the country and NOT doing what every one else in the burbs is doing just as soon as I can.

[Howard_Casto]

Yeah using a house as a lean for equity is risky considering every few decades the housing bubble bursts and people get screwed from it.  There's still no substitute for having a healthy savings account.  Not living beyond your means is also sound advice.  A mortgage is just a different form of credit after all. 

Love the painting btw.... I would seriously buy that. 

[jdbailey1206]

dammit Farley why'd you have to kill yourself with drugs?

Because many comedians are depressed.  Booze, like laughter,  is a coping mechanism that cannot fill the emptiness.  Many comedians say that once they get off stage they feel the emptiness so they turn to other things to fill that void.  Unfortunately it tends to be drugs and alcohol instead of seeking help they need.  This is why so many comedians have dependency issues and end up overdosing. 

[pbj]

Unfortunately it tends to be drugs and alcohol instead of seeking help they need.  This is why so many comedians have dependency issues and end up overdosing.

Patton Oswalt is probably next. 

[HaRuMaN]

My brother recently sold his 3 bedroom house with the awesome 6 car shop out back and bought a big diesel 4WD conversion van.   

[RayB]

Do the math. Live within your means, yes, but don't piss away money for dumb reasons. Money to a rent is wasted. Money into a mortgage can *generally* be recuperated years later by selling. Not being able to pay off a mortgage before you get old is a dumb reason. Nobody cares if your mortgage is paid off or not. Sell before you get *too* old.

Real estate is an investment and if you're level headed enough about it and don't make any stupid decisions it should appreciate in value.

And what's this nonsense about apartments being smelly? It would really depend on where, now wouldn't it?! Crappy low-income apartment building, sure. Higher end clean building with rules? No reason it should be like that.

Have you considered a condo?

Do the math and choose what's best for yoru future.

[harveybirdman]

I'd live in this Trailer Park

[Howard_Casto]

I dunno man.  The rate of alien abduction is pretty high there.

[jdbailey1206]

Unfortunately it tends to be drugs and alcohol instead of seeking help they need.  This is why so many comedians have dependency issues and end up overdosing.

Patton Oswalt is probably next.

I'm waiting on Zach Galifianakis.  There is a lot of pain in that mans eyes.