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Housing question UPDATED

Posted by on Jan. 10, 2013 at 1:42 PM
  • 22 Replies

Ok rewriting this cause it seems to come off as confusing. Right now we are renting a house for 1200 a month with 500 in utilities. My husband is the only one working right now since Im due with our 3rd in just a couple weeks. We have a friend of the family who has offered us to buy their modular home (trailer) for 6000 cause thats what they owe on it. It does have lot rent but its only 125. It is located in the same town that we are in now. We thought just buy it so we wouldnt really have rent anymore. Which would give us extra money every month and I wouldnt have to go back to work and put 3 kids in daycare. We have told our family what we are thinking about doing and they dont think its a good idea since out two boys will have to share a room. What would the rest of you do? We have the inspection on the house and appraisal from the county. Both check out ok. It is technically in a trailer park since there is 3 of them but its not the nasty trashy ones you would normally see. It is very clean and well taken care of.

by on Jan. 10, 2013 at 1:42 PM
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Replies (1-10):
christina0607
by on Jan. 10, 2013 at 1:54 PM

The fact that it's smaller doesn't mean anything to me. Space is what you make of it.

I would look into the neighborhood(is it in a trailer park) the amenities around, the schools. There is a lot more that should go into picking where you live than just the size or the cost of the space. 

tiarra7022
by Member on Jan. 10, 2013 at 5:07 PM

It in a trailer park but there is only 3 trailers there. Its the same school district we are in now. We would only be moving like ten min from our current house. So we would have all the same amenities we have now just a smaller place and its a trailer instead of a house. We have already got copies of the inspection that was done and the info from our city on it.

HousewifeNina
by Silver Member on Jan. 10, 2013 at 5:14 PM
1 mom liked this
Have you looked into buying a house? Its a much better investment.
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.Nobody.
by on Jan. 10, 2013 at 5:15 PM
I wouldn't.
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tiarra7022
by Member on Jan. 10, 2013 at 5:21 PM

we would own this trailer. There are not alot of houses for sell around here unless you are willing to pay a ton of money. I guess I shouldnt say trailer its actually a modular home. not something with wheels. We have looked at some houses but we cant get a loan for the amount they want for them

frndlyfn
by Emerald Member on Jan. 10, 2013 at 6:00 PM

You will still need to pay rent to have the home in that particular spot.  I am not sure if it is rent or lease though.

All my inlaws live in modular homes but only one does not have to pay rent since his is on family land.

AMBG825
by on Jan. 10, 2013 at 6:15 PM

 Unless you're going to buy a plot of land you're still going to have to rent the lot. Lot rents go anywhere from $300 to $1000 a month depending on your location and the park you're putting it in. So you still have a monthly housing payment.

 

Personally, I wouldn't. I would look at possibly refinancing the house for a lower payment than buying a smaller trailer. Especially if I was expecting another addition to my family.

tiarra7022
by Member on Jan. 10, 2013 at 6:22 PM

wQuoting AMBG825:

 Unless you're going to buy a plot of land you're still going to have to rent the lot. Lot rents go anywhere from $300 to $1000 a month depending on your location and the park you're putting it in. So you still have a monthly housing payment.

 

Personally, I wouldn't. I would look at possibly refinancing the house for a lower payment than buying a smaller trailer. Especially if I was expecting another addition to my family.

We dont own the house we are in we pay 1200 in rent so refinancing is not an option.

tiarra7022
by Member on Jan. 10, 2013 at 6:24 PM

we would still have lot rent which is 125 a month. which is way cheaper then 1200. We did look at houses for rent in the  area and they are all 900 and up.

Quoting frndlyfn:

You will still need to pay rent to have the home in that particular spot.  I am not sure if it is rent or lease though.

All my inlaws live in modular homes but only one does not have to pay rent since his is on family land.


AMBG825
by on Jan. 10, 2013 at 6:24 PM

 I would probably stay where I was (provided you can afford it) until a house became available that was to be bought.

 

But that is a personal preference for me. I pefer houses over trailers.

Quoting tiarra7022:


wQuoting AMBG825:

 Unless you're going to buy a plot of land you're still going to have to rent the lot. Lot rents go anywhere from $300 to $1000 a month depending on your location and the park you're putting it in. So you still have a monthly housing payment.

 

Personally, I wouldn't. I would look at possibly refinancing the house for a lower payment than buying a smaller trailer. Especially if I was expecting another addition to my family.

We dont own the house we are in we pay 1200 in rent so refinancing is not an option.

 






 

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