Online House Hunting

Do people own trailer homes?

My husband and I are getting a divorce and I am trying to decide where I am going to live. I know there is a trailer park nearby and a mobile home is for sale for $4,000.00. Once I buy it, do I own it? Id like to own a house but do not have the money at this time or the credit built up and I could live in an apartment but dread the idea of having to pay rent forever. Is this a good economic choice? Thank you

Public Comments

1. yes
2. The way it works is that you own the mobile home, but you pay rent to the park for the land it sits on, as well as for their services (mowing, snow plowing, security, etc.)
3. You would own the mobile home but not the land on which it sits so you would still need to pay a monthly fee or rent to the trailer park for the site. You would also need to pay for fuel and possibly electricity depending on the park rules. If you think you could own a home in the next five years, you may be better off renting a cheap apartment and saving a down payment. Mobile homes don't really increase in value.
4. Like just about anything with real estate, location has a lot to do with it. There are several trailer parks of about 15 to 20 trailers in the town closest to where I live. Most of the trailers are "double-wides" but each park seems to allow a couple "single-wides." In these cases you actually own the trailer, but you have to pay a monthly fee for the space you've got the trailer parked on. In the better trailer parks there are covenants in place to keep people from junking up their trailers and their lots too badly. You're always free to move your trailer, if you want, to another park or even a piece of property you may buy (and also, if codes permit), but its also common to buy and sell trailers that have been on lots in trailer parks for years. I was helping some elderly friends downsize their life, and they found a nice trailer park and 15-year-old trailer for about $30,000.
5. Yes you will own the trailer but probably not the lot it sits on. Most trailer parks make you pay lot rent, that way if you ever want to leave you can just have the trailer moved.
6. yes..i got mine that way when i divorce..you will have to pay lot rent though but it will be cheaper than if you rented a house..also each year the taxes..that will be cheaper to. you would go to wear you pay your car tag each year and just pay the taxes on the trailer..mine was a 10 yr old trailer and i paid 78 bucks a year and the lot rent was 100..a month it really depends on where you live.. i never regretted buying mine..the thing i did regret was when i moved out of state i could not take it with me..fla only lets you take a class 2 and mine was a class 1
7. Yes, you would own the trailer but you still must rent the lot it is on. So, you will not get out of paying some kind of rent forever. A stick built house is the only you will get out of any kind of rent.
8. Yes - you own the trailer (mobile home) - but you also own any problems that come with it - get someone you trust to look at it with you - especially under it - look for water damage, plumbing problems, etc, - Make sure all sinks/tubs/toilets and heating/AC work and roof does not leak - and the floors are sound -- if any problems are found - have them fixed before you sign anything - You will also be responsible for the taxes, insurance, etc. The space where it is sitting is probably a "rented" space - and that would be an additional monthly expense plus your utilities. The good thing is that you could always re-sell or rent the trailer should you find something better. Whether it is a good economic choice - we can't say - don't know the area it is in - is it a safe drug-free, crime-free area? Are you going to feel safe living there by yourself? You can ask the police about the area - they can give you crime stats.