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Old 03-04-2005, 07:43 AM
barbd00 barbd00 is offline
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Join Date: Feb 2005
Location: Harrington DE
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Default Re: Mobile Home or Apartment?

As someone who lives in a mobile home let me tell you a little bit. If you aren't gonig to put your mh on a foundation on its own land, it will depriciate just like a car!

We own a 8 year old mh. It is very nice. Top of the line. It was almost 40k when we bought it. Except now half way through the mortgage, we owe more than it is worth. It is still in great shape, but there is no way we could get more than 15 - 20k for it!

I agree that renting is pretty much like throwing your money out the window, but you will never get what you put into a mh UNLESS you put it on a foundation on land you own. Even then it is touchy. A friend of mine had a double wide. She bought a piece of land and put the mh on a foundation. She didn't get what she wanted but just wanted to get out.

Buying a mh is like buying a car, so keep that in mind. If you are planning on staying in it for ever, or until you won't care what kind of money you get back, that is fine.

My suggestion, rent an apartment or house as small and cheap as you can, save up and buy a house.
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