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Old 01-05-2021, 11:38 PM   #1
Aviza
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Default Want to own a home

Even condos and townhouses are out of my range these days, but mobile homes aren't. My mom says absolutely no to a mobile home they have lot rent. And i don't know how much that is but i assume it's like an association fee.

I live in a nice apartment, great location. But it has tons of rules, but still i made my apartment as nice as I could. With its slanted walks and cut off rooms. I love space. Always have.

What's mobile home life like? My aunt lives in my grandma's old mobile home. I don't really see it as a huge deal. I'm not rich I'm trying to live in my means, and get a place of my own.
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Old 01-06-2021, 01:18 AM   #2
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Default Re: Want to own a home

Dear Aviza,

A mobile home sounds nice. I live in a very small house that is in the shape of a triangle and have for many years. It is nice to have a place of one's own. Sometimes the "triangularity" of my space gets me a bit down though. Most furniture, appliances and such are based on people living in cubes and rectangular spaces. I have tons of space but most of it is unusable. My grandmother lived in a mobile home when she moved and I thought it was nice. I hope you find a space that suits you and gives you enjoyment as well as shelter.

Sincerely yours, Yao Wen
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Old 01-07-2021, 05:17 PM   #3
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Default Re: Want to own a home

My best friend and mom are like no never don't even think about it.
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Old 01-07-2021, 05:41 PM   #4
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Default Re: Want to own a home

Sounds like more work to me! Plus you will have to worry about heat, air conditioning, plumbing, electricity, all the machinery associated with those things, probably some lot upkeep, maintenance of the home exterior, ah, the roof, the windows!

Right now, in my apartment, i dont worry about anything. Ever. I just dont have the temperament. I worried about EVERYTHING CONSTANTLY when i was in my parents house and for many years beyond. I just dont have any more energy.

I am probably a little older than you (69 is near!), but i jusr want to spend my time doing fun stuff, not chorey stuff! There are plenty of chores as it is!
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Old 01-07-2021, 09:07 PM   #5
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Default Re: Want to own a home

Most people who claim to “own” houses don’t own them. Banks do.

In addition upkeep of the house costs a lot so in order to maintain your house properly you need to make a very good money. Of course many people don’t do upkeep as they don’t make the kind of money so their houses are a dump

Also many people are “house poor”. All their money go into that and they don’t even enjoy life. So enjoy your nice apartment
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Old 01-08-2021, 09:23 AM   #6
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Default Re: Want to own a home

I understand the feeling of wanting your own place, but I also have to agree with the good points that Divine has mentioned. My husband and I bought a house at the end of 2018 and it took a long while to get into a position to do so. We waited until we were able to put 20% down and could afford to make payments on a 20-year mortgage rather than 30 years, to get it paid off more quickly. We've made 2 years of payments so far. We also both had stable income, no other debt and a decent amount of money in savings to cover the expenses that inevitably come up.


I am not sure about mobile homes, but other properties will be subject to property taxes, so you may have to budget for that too. We're fortunate that property taxes for houses and apartments below a certain size are relatively low in this country, so we don't pay that much, but I know in some places in the US they can be a significant expense.

From what you have said, you are still working on paying down debt and getting started with savings. I'd say focus on that first, especially paying down the higher interest rate credit.
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Old 01-10-2021, 02:15 PM   #7
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Default Re: Want to own a home

I never felt more poor than when I owned a home. First of all you run into the cost of a home and all the home types. Don't buy a mobile home, it will never go up in value like a condo or home and it is just like renting. You have to worry about the degradation of the mobile home and replacing it if the park upgrades. My grandma was a real estate agent and so was her friend, go to Real Estate, Homes for Sale, MLS Listings, Agents | Redfin. Some areas have permanently affordables you can qualify for, but you need a real estate agent to help you with it. Some will be snotty, but keep calling around. To know if your area has them look for them on Redfin. Think about buying a condo, homes have lawns and unless you garden you'll be out there all the time taking care of weeds and gardening. Plus there are more bills associated with homes. The downside to condos is neighbors, if you are noisy at all or have weird habits, neighbors will complain and can even get you kicked out of the place you own. You have to follow rules at condos, just like apartments. Even if you are rich and buy a home outright there are still taxes or hoa dues and other bills like electricity. There are some calculators online you can use to see the percentage of how much your rent is being raised versus how high the home values are increasing. For some owning stocks and renting something cheap is better than home ownership, while for me owning a home made me a profit. I don't know if renting would have been better because I didn't do that option. But one thing that happened to me is I ended up buying in a dangerous neighborhood simply to buy, when I could have lived with family in an excellent neighborhood. So consider all your options.
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Old 01-11-2021, 02:54 PM   #8
Aviza
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Default Re: Want to own a home

My preference is a townhouse, but likely could barely afford a condo.
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