My husband and I are planning on continuing classes in another city for a couple years. We found a very lovely school for our daughter and the college has daycare for our son. We own a house, farm, and land right now. We will still own it but just live over in the other city for a couple years to finish school. We were considering renting our home out to help with our payments for school and everything.
My husband doesn't want to rent. He sees it as a waste of money which is understandable. So his first plan was to buy a house over there and rent it out or resell it after we move back. I on the otherhand didn't like that plan. I don't feel as though we could be decent landlords when we live hours away. (we have family and friends in the city we live in now to help with renting out our house) But we don't know anyone yet in this other city. Not to mention the cost of just buying a new house we're not going to live in longer than a couple years!! We would have to get a loan and all of that. We don't have the paper work filled out and turned in for that so IDK if we'd even qualify.
Well another option for us is to purchase a mobile home. We looked at a few and find a couple nice ones. They are only two bedrooms (which will be a huge difference compared to our four bedroom full basement house we have right now). The city isn't very large so the worst part of town isn't really that bad but there is where these mobile homes are located. The trailer park is rather trashy. The homes around ours are beat up and theres trash. I'm not worried about our safety, I think as far as the worst part of town it's still pretty nice.) The best part of this option is that we have the money for these mobile homes. So they would be paid off and we wouldn't have to worry about that on top of school payments and everything else. But at the same time... I feel reluctant about the surroundings of the home.. and living in a trailer in a trailer park like that. I know it sounds stuck up... And I'm not judging the people that live there... It's just not very nice. Not to mention the huge downsize in room. Our children would have to share a room. But at the same time it's only for two years and... SO MUCH LESS TO WORRY ABOUT!! The trailer park is near both our college and my daughters school. AND we could move it back with us when we move back and rent it out.
One more option which my husband is almost completely against, well we did look at these brand new mobile homes. They're three bedrooms and very very very nice! I loved it!! But they're costing about $80,000, so we would have to get a loan for it. I like the idea because we could sell it after just two years of using it for a decent amount of money (although my husband doesn't think we'll be able to sell it for much) and we could even move it with us back here and rent it out here. He is mostly against it because he says if we're going to get a loan for that amount of money then we'd be better off trying to buy a house (my argument of course is we can move the trailer back with us and rent it out).
I'm just so stressed with these options that I need a few other opinions on which would be the best option and/or maybe hear some things we havent considered.
What do you ladies think? :)