mobile homes?

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stinkynuts

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Jan 4, 2005
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I am thinking or relocating to a new city, and am thinking of purchasing a mobile home. I am single, and my main objective is to own my own home so that I don't have to pay rent. I am not concerned with whether it appreciates in value (I know they mostly don't).

Has anyone had experience with mobile homes? What are some pros and cons that you've experienced?

I don't have money to buy a traditional home, and think this is better than renting since I can pay the mobile home off in cash.
 
It is out of the box thinking like this that smart people can do. Why be chained to a mortgage or other ways society wants to keep us in one spot all our lives as good worker bees. I say go for it. No mortgage will put a lot of money in your pocket each month. More people should think like this: "what can I do to enjoy my life"
 
stinkynuts said:
I am thinking or relocating to a new city, and am thinking of purchasing a mobile home. I am single, and my main objective is to own my own home so that I don't have to pay rent. I am not concerned with whether it appreciates in value (I know they mostly don't).

Has anyone had experience with mobile homes? What are some pros and cons that you've experienced?

I don't have money to buy a traditional home, and think this is better than renting since I can pay the mobile home off in cash.
Click to expand...

Are you planning to live in a Walmart parking lot? Or were you thinking trailer park?
 
JackBurton said:
It is out of the box thinking like this that smart people can do. Why be chained to a mortgage or other ways society wants to keep us in one spot all our lives as good worker bees. I say go for it. No mortgage will put a lot of money in your pocket each month. More people should think like this: "what can I do to enjoy my life"
Click to expand...

Exactly....

I'd rather pay off my mobile home and live debt free and enjoy life, without the stress.
 
Maybe you can park it at work and save on the commute?
You could offer to be a night security for them if you want to earn extra money.
 
You'll also have some sort of yearly lease expense for the land it sits on. Nothing as big as a mortgage payment, but something you should factor into your budget.
 
Where roughly are you thinking of living? Not sure how many mobile home parks there are in the GTA, but then again I've never looked into it. If you find one, try to see if there any web sites that offers reviews of the park, it would be good to know going in what the existing occupants think of the place.
 
You're missing out on a lot of money.

On one hand, you are having a cash crunch and can't buy a home, but want to miss out on home appreciation?

Who knows what GTA homes will do, but if you had bought any place 10 years ago (even a small condo), you'd probably be up $50,000 now. If you were lucky enough to get a mortgage for a $300,000 home back then, it's probably worth $600,000 now.

Don't fall for the "live lean" lifestyle unless you are broke and have no job, or a job that pays so low you have no choice but to rent. A buddy of mine did that even when he got a normal job decades ago. He assumed the market would crash and rented for decades. He probably missed out on maybe $500,000 as most other people we all knew bought a home when they could. I think he's still renting now and just accepts it.

As my dad told all of us in the 80s, buy a home when you can afford it. Never rent. We all listened and based just on home appreciation alone over the decades, we're all decently well off.
 
Occasionally said:
You're missing out on a lot of money.

On one hand, you are having a cash crunch and can't buy a home, but want to miss out on home appreciation?

Who knows what GTA homes will do, but if you had bought any place 10 years ago (even a small condo), you'd probably be up $50,000 now. If you were lucky enough to get a mortgage for a $300,000 home back then, it's probably worth $600,000 now.

Don't fall for the "live lean" lifestyle unless you are broke and have no job, or a job that pays so low you have no choice but to rent. A buddy of mine did that even when he got a normal job decades ago. He assumed the market would crash and rented for decades. He probably missed out on maybe $500,000 as most other people we all knew bought a home when they could. I think he's still renting now and just accepts it.

As my dad told all of us in the 80s, buy a home when you can afford it. Never rent. We all listened and based just on home appreciation alone over the decades, we're all decently well off.
Click to expand...

Very true...
 
Living in a trailer park on a lake would be a good cheap place to spend the summer. Can fish for some food, sit by the camp fires at night. Some parks close in the winter. In the winter keeping the water pipes from freezing and dealing with waste water would be a problem. Can live cheap in some southern countries in the winter, like Cuba, Dominican Republic.
 
Assuming you want to still live in Canada, and have no problem moving, I say check out what you can afford in cottage country in Ontario or those small towns north or east. Or maybe somewhere in the maritimes. People from there I know keep saying it's super cheap to live there, so if a home is a fraction of the cost, I'll assume anything like a mobile home or cottage country stuff is a fraction of the cost too.
 
There is a Trailer Park in Mississauga on Dundas. The trailer park in Milton is open all year. There is a trailer park in Erin also.
 
Trailers are not well insulated. The winter heat bills will be high.
 
trm said:
Trailers are not well insulated. The winter heat bills will be high.
Click to expand...

This is true of older trailers but newer models have 2X6 walls and efficient windows and doors.
There are 2 types of parks, year-round and seasonal.
 
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