My Mobile Home Buying Process Takes Shape

Okay, so now the catches are out of the way, what other benefits could there be to mobile home buying? The first benefit I discovered was that not only are mobile homes cheaper than traditional homes, you also get a lot more space than in any apartment. A typical double-wide mobile home has 1400-1500 square feet of space, with 3 bedrooms, 2 baths, kitchen, dining room, family room, laundry room, and porch. Even combining the space rent with the mortgage, I would be paying less per month than with a typical 2-bedroom, 900-square-foot apartment. And of course, with a mobile home, you are separate from all your neighbors: no shared walls, ceilings, or floors, so it's more private than even a condo or townhouse!

With mobile home buying, you also have your own yard. Granted, the spaces in most parks aren't gigantic (they want to have as many spaces as possible, after all), but you have plenty of room for a modest garden and outdoor table. Most parks also have some community facilities available to residents: a swimming pool and hot tub, weight room, playground, basketball court, recreation room (which you can reserve for larger gatherings), shuffleboard courts, pond, laundry rooms (if your home doesn't have one), everything you would find at the nicest apartment complexes. Smaller parks may not offer all of these amenities, but there are plenty of middle-sized and larger parks that do, and it didn't take me long to find one in my area that had them all and was in great location.

Then, I discovered more financial benefits. Just like with a traditional mortgage, the interest is tax deductible. Of course your mortgage is going to be much smaller and therefore so will your deduction, but that's a good thing, right? Property taxes are also much lower for mobile homes than with traditional homes or even apartments (believe me, your apartment rent includes property taxes). And here's the big kicker with mobile home buying: the deposit. When you move into a mobile home, the park will require a deposit in addition to the first month's space rent, just like with an apartment. Apartment complexes will keep your deposit until after you move out since there is always the possibility that you will damage your residence. With a mobile home, however, you own the residence, so the deposit is only necessary until you establish a track record of space-rent payments. Typically, after 12 consecutive months of timely payments, the park will refund your deposit. That's a nice bonus to look forward to after one year!!