We haven’t noticed cold floors. (We sure did in the townhouse we rented, though. Cold tile floors and cold, cold kitchen floor on the first level.) I really, really hope the roof doesn’t leak in our place. We did have a home inspector go through it before buying it.
We have rent control in BC, so rent increases (pad fees) are kept fairly low, however, if there are extraordinary reasons, the park owner can increase pad fees beyond the set limit, with supporting documentation.
True. I wish we could afford a house here, but we just can’t. Although the market’s changing. There are five houses under $400,000 on the local MLS system. All one-bathrooms, alas.
It’s the land, Katie Scarlett, the land. I do want to own the land.
I wanted to see if this would be mentioned, because its something I’d very much second…if you have the means, get a piece of land and park a genuine mobile trailer on it. To build a utility shed with running water and power for storage and / or laundry needs should be cheap, and then you can save for and build your house in your own time.
I’ve not owned a mobile home but have lived in three over the years. Marcie and I have sort of fallen in love with a mobile home park some miles south of where we are now; if the market picks up and we can sell our townhouse for a good price, we will immediately buy a mobile home in that park. It is an owner-owned park that is restricted to 55+ residents; it’s located on a bay with boat slips and there is direct access to the Gulf of Mexico. The mobile homes in the park are all doublewide; they all have carports with storage sheds and a certain amount of landscaping is thrown in with the purchase price. We would tomorrow if we could.
My cousin lived in a double-wide for a few years while her dream house was being built. Quite roomy and comfy. She wasn’t in a trailer park, but I know of trailer parks that aren’t “trashy” at all. In fact, they’re very nice neighborhoods.
A guy down the street put two double-wides together and built his house around them!
“Manufactured housing” (the PC term) varies widely. There are still some that are little better than tool sheds and others are very nice. My husband and I researched this housing option about 10 years ago. After that, we started spotting doublewides in typical subdivisions in amongst the houses built on-site. In other words, the newer and better ones are largely indistinguishable from houses. One local outlet sold log cabins with genuine cedar. They are insulated with all sorts of modern amenities. Some are two stories, some have fireplaces. They really can be quite nice.
But once in place it’s not realistic to move them.
There are also less expensive models and single-wides still available.
The problem of not owning the land you live on, and of trailer parks disappearing, is a real one. Some of my neighbors have solved this by putting their “traiilers” on land they own. In other cases… well, people have been forced from their homes. All forms of housing have their downsides and you must take that into consideration.
Tornados are also a concern in this part of the country, and a very real one. Trailer parks may have a sturdy building to serve as a storm shelter for residents. You can also get manufactured housing with a reinforced “panic room” or “shelter room”. It is possible to dig a basement and put a “trailer” over it.
In sum, these can be a really, really good option for some people, a total nightmare for others. Do your research and make the choice that fits with your situation.
My current mortgage set up requires an escrow account for taxes and insurance. I don’t like it, I wish they would tell me they would no longer do it!
Previously I paid my own taxes and insurance, I just divided the taxes up into a weekly amount, and set up an auto transfer after each payday to go into a savings account I marked as only for taxes. Easy enough, and I earned interest on it while it sat there, plus it was available for me to use in emergencies or whatever as long as I paid myself back in time. Now I have to overpay my escrow, because they are legally allowed to keep a certain percentage of my money as a minimum balance. For example, last year my lowest escrow amount was something like $600, but they didn’t have to refund that money to me at the end of the year even though they are clearly charging too much, because they are allowed to have a certain cushion. I for one would rather have my $600 and pay my own taxes.
A small cottage, built on your own lot, one room kitchen/bedroom with a small bath. Cheaply built if you do it yourself. The genius part is that later, when funds allow, you construct the rest of the house while living in this, which eventually becomes one room of the larger structure (a bedroom with bath) and the kitchen appliances are just moved into the real kitchen.