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This business model exists, and has existed for a long time. The big problems that I'm aware of with it are that moving your unit can be a headache - think "tr
by fencepost 11y ago
This business model exists, and has existed for a long time.
The big problems that I'm aware of with it are that moving your unit can be a headache - think "transportable" not "portable," that units tend to depreciate (vs appreciation for permanent structures), and the ever-present concern about tornadoes in much of the country.
And yes, it's called a trailer park. As I understand it, you generally purchase and own your own mobile home, but you're leasing a pad from the park owner along with the costs for utility hookups.
- gertef 11y agoSince trailer parks tend to be the choice of low-income /lowe-wealth residents, in practice the mobile homes tend to be owned by the parks and rented.
- vonmoltke 11y agoIt varies. I frequently see them listed for sale in the DFW area.
- fencepost 11y agoThat's pretty variable - the person I knew who lived in a mobile home had one that he'd inherited from his mother. I think the lot rent was not too far from what I'd previously been paying for a pretty nice apartment which really kind of sucks since all he was getting for that was a cement slab with some utility hookups. The other problem he had was that because he owned the mobile home, to get out of the whole situation he had to either find someone to buy it (and take over the space or move it) or he had to get it out of the space himself. The residual value of a 20+ year old mobile home is really pretty low if it hasn't been kept up well, but I think he eventually sold it off to someone for a small amount of money just to avoid having to fix it up enough to be moved.