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New York Times did a "Rent or Buy" calculator. With the prices of manufactured (mobile) homes so low, it's usually a no-brainer to do that instead of renting:
by yboris 6y ago
New York Times did a "Rent or Buy" calculator. With the prices of manufactured (mobile) homes so low, it's usually a no-brainer to do that instead of renting:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html https://www.nytimes.com/interactive/2014/upshot/buy-rent-cal...
- kube-system 6y agoThat calculator doesn't reflect the reality of ownership for a mobile home, though. You can't mortgage them, and they're not attached to land. You either need to rent land (in which case you're back to square one, where you're really renting), or purchase land that allows it, which often means a longer commute.
- yboris 6y agoIncorrect - you can mortgage them. You just need lenders that do it. Our community recommends 4 lenders that all do mortgages on these properties. The APR is higher than conventional, but it can still be worth it.