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Old 05-31-2010, 03:38 PM
 
Location: Shadowridge. Vista
204 posts, read 642,953 times
Reputation: 90

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I don't know much about mobile homes but I would be concerned about rent increases once it sells.
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Old 06-01-2010, 08:51 AM
 
Location: San Diego North County
4,803 posts, read 8,758,958 times
Reputation: 3022
Quote:
Originally Posted by htnspz View Post
I don't know much about mobile homes but I would be concerned about rent increases once it sells.
According to the current sale contract, there can be no increase for 2 years. After that, I believe it is capped at less than 5%. Buying a manufactured home outright and paying lot rent is still cheaper than a 30 year mortgage--so I think we'll take our chances.

Plus we have access to pools, after school activities for my son, a work-out room, saunas, etc. I think the benefits are going to outweigh any detriment.
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Old 06-01-2010, 02:37 PM
 
Location: Shadowridge. Vista
204 posts, read 642,953 times
Reputation: 90
It does sound good and I could certainly see why you have looked into it. The home looks to be in great shape and you get so much (a garden tub!). Good luck and I hope you get it!
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Old 06-02-2010, 07:41 AM
 
Location: San Diego
50,479 posts, read 47,246,513 times
Reputation: 34137
Quote:
Originally Posted by Kele View Post
According to the current sale contract, there can be no increase for 2 years. After that, I believe it is capped at less than 5%. Buying a manufactured home outright and paying lot rent is still cheaper than a 30 year mortgage--so I think we'll take our chances.

Plus we have access to pools, after school activities for my son, a work-out room, saunas, etc. I think the benefits are going to outweigh any detriment.
My long term goal is to have a mt cabin and a prefab on a lot near a local lake or beach. I am having a hard time convincing my wife though. I can sell my house and do both with cash back.

She likes the RV thing but I'm the one stuck driving.
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