| There are mobile homes for sale, for much
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| | this scenario.It's true that a mobile
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| less than stick-built houses, in most
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| | home on land might appreciate more slowly
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| areas of the country. Despite persistent
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| | than a "regular" house, but the faster
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| predjudice against them, and sometimes
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| | loan pay-down probably more than covers
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| the people living in them, mobile homes
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| | this factor. If you also chose to bank
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| are the cheap housing choice of millions.
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| | the difference in payments ($235.61 per
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| The advantages are not always obvious,
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| | month), you'd definitely be better off
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| but they are real.First of all, let's
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| | financially with the mobile home versus
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| acknowledge the big "truth" about mobile
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| | the more expensive home.Pay less per
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| homes and appreciation or depreciation.
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| | month and build more equity! Don't expect
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| It's true in most areas that mobile homes
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| | your real estate agent to tell you this.
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| in parks go down in value over time.
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| | Don't expect him to even agree with me
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| That's why I don't recommend buying in a
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| | after you explain it. I sold real estate
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| park, unless you absolutely can't buy
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| | years ago, and math skills were not a big
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| real estate, and you have done the math
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| | part of the licensing requirements.Mobile
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| to see if you are better off than renting
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| | Homes For Sale; Other AdvantagesMobile
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| a nice apartment.To "do the math"
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| | homes are cheaper to maintain. Years ago
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| consider lot rent, payment, and the
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| | I had a mobile home as a rental, and the
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| remaining value of the mobile when you
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| | furnace in it died. This is the most
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| put it up for sale, minus what you will
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| | expensive repair you'll have in a mobile.
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| still owe, when you are likely to move.
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| | I had to replace it for $1,200, but that
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| These are guesses, but still better than
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| | was still less than a furnace for a
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| nothing if you are as objective as you
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| | larger home. Consider that for $200 you
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| can be.Mobile Homes For Sale With Real
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| | can tar the roof of your home, or $30 if
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| EstateWhen looking at mobile homes for
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| | you do it yourself, instead of $5,000 to
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| sale on land, however, you are looking at
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| | re-shingle a traditional roof. The
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| an entirely different investment. My
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| | windows, plumbing, doors - all
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| mobile home in Michigan doubled in value
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| | cheaper.Property taxes will cost less,
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| in the twelve years I lived in it. That's
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| | because they're based on the value of the
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| because even as the home deteriorated a
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| | property, and mobile homes for sale on
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| little over time (don't all houses?), the
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| | land have lower value than stick-built
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| value of the land continued to rise. You
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| | houses. Insurance may cost less too,
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| also can do what you like with the home
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| | again because you are insuring less
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| when you own the land. For example, I
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| | value. The only precaution to remember
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| took in more money from my home than it
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| | here is to be sure you can get insurance.
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| originally cost, by renting out a room or
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| | Very old mobiles may be uninsurable in
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| two over the years.As mentioned, mobile
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| | some areas.Should You Buy A Mobile
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| homes usually sell for less than other
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| | Home?Don't buy a mobile home if prices
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| houses, and this means lower payments.
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| | for houses in the area are just as low.
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| Also, because of the shortened
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| | Believe it or not, this is the case in
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| amortization and lower loan amount, you
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| | some areas. We bought a house near Butte,
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| will often build equity faster in a
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| | Montana for $17,500 - less than mobile
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| mobile home than in a more expensive
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| | homes for sale there (See a photo on our
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| house. A quick example follows, for the
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| | site do generally hold up better. Then
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| skeptical among you.Equity Building With
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| | there are the issues of whether your own
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| Mobile HomesIf you buy a house with a
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| | needs and predjudices will let you be
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| $100,000 mortgage loan amortised over 30
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| | comfortable in a mobile home. They are
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| years at 6% interest, you'll have a
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| | sometimes for sale in areas you don't
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| payment of $599.60. Of the first payment,
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| | want to live in (Certainly true of houses
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| $500 will go towards interest, $99.60
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| | as well). These are personal things you
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| towards principal. In other words, you
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| | have to consider.The advantages are clear
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| only built equity of $99.60 (I'm ignoring
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| | for many young people starting out. It
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| appreciation, but only for the
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| | may be their only option, but it may be
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| moment).Second scenario: Find a nice
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| | your better option. Besides a lower
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| mobile home for sale, and borrow only
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| | initial price, you get simpler, cheaper
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| $30,000, at 8% interest, amortised over
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| | maintainance, lower monthly payments,
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| 10 years. Note that higher interest is
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| | less property tax, less for insurance,
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| always the case with "factory built home
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| | and faster equity build-up. So don't
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| mortgages." The shorter term is normal
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| | automatically pass on those mobile homes
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| too, but least you'll own your home
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| | for sale when you're out
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| free-and-clear in 10 years instead of 30.
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| | home-hunting.Steve Gillman and his wife
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| Despite higher interest and a shorter
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| | Ana have converted their mobile home in
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| term, the payment will be only $363.99,
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| | Michigan to a rental and moved to Tucson,
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| and the first month only $200 will go
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| | Arizona. He and his wife also lived for a
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| towards interest. That means the other
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| | while in Montana, where they bought a
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| $163.99 goes towards principal. You
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| | beautiful house (not a mobile) for
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| bought more house (built more equity) in
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| | $17,500.
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