Are you contemplating moving into a mobile home? Do you feel a little confused about whether it’s a better option to buy a mobile home or simply rent one?
Well, here is some quick fix advice to help you make up your mind on which is the best option for you.
Your Own Land Is Optional
If you’re planning on being a renter only, then you won’t be able to rent a mobile home on your own land anyway, so it’s not even something to be considered.
Even if you buy a mobile home, you still don’t need to go to the expense of buying land, as you can simply locate your new home in a mobile home park, or buy a mobile home that’s already located inside a home park.
It really makes things very easy and stress-free.
Buying a Mobile Home Is An Asset
If you merely rent a mobile home, then you’re really just paying out dead money, so to speak. You’re paying for the right to live in the house, which is fine, but that’s as far as it goes.
On the other hand, if you have the funds or can arrange finance to buy your own mobile home, then you now have an asset that you can later sell if you choose to. You also get that unique feeling of being a homeowner.
Renting Gives You More Freedom
You might not be a homeowner, but you can live a more carefree life without a mortgage hanging over your head. Plus, any time you want to pack up and move to a new location, you don’t have to try and sell your mobile home first or cover the expense and hassle of relocating a mobile home to a new destination.
There is definitely something to be said for renting, as it can certainly make life a lot more simple.
Mobile home renting has always been popular all over the world. There are a few useful and helpful blogs out there on mobile home park news through which you can get the updates on mobile home parks.
Whether You Buy Or Rent, You’ll Save Dollars
Every year thousands of Americans decide to simplify their lives by downsizing their homes, and the most popular reason for doing so is to reduce their living expenses.
When you have a large house or apartment to look after, everything costs more. From the rent or mortgage payments to electricity consumption and general upkeep and maintenance of a more regular home.
So whether you rent or buy a mobile home, chances are you’ll be saving some dollars in the process and putting more disposable income in your pocket.
And that’s always a good thing.
Buying a Mobile Home Gives You More Stability
You might be planning on living in your mobile home on your own land, if local zoning laws allow it. Or, you could be planning on residing in a mobile home park, saving money on having to purchase land and being able to take advantage of the park’s facilities.
Either way, owning your mobile home gives you a lot more stability and security. You’ll also be more reluctant to just up and move all the time when you own your house.
If you choose to go the mobile home park route, even though you are only leasing a lot within the park, because you own your home, it’s harder for the park to serve you an eviction notice for any reason.
Not that you would do anything to get one anyway.
Add Mobile Homes To Your Investment Portfolio
This is something you can’t do renting mobile homes.
Mobile home popularity is on the increase, and this makes them great investments to add to an investment portfolio. If you have the money you can buy up a number of mobile homes located in established and well managed mobile home parks.
You can rent these homes out while waiting for the value of the homes to increase, then you could either sell them off for a profit, or realistically charge a higher rent over time.
Either way they are a win-win for property investors and something well worth serious consideration.