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The original idea for tiny homes was to avoid the mortgage rat race and retire early. An alternate solution that is almost as inexpensive but that doesn't invol
by dave333 4y ago
The original idea for tiny homes was to avoid the mortgage rat race and retire early. An alternate solution that is almost as inexpensive but that doesn't involve living in a shoebox is a mobile home in a good old fashioned mobile home park. For seniors looking to downsize/economize their retirement a MH in a quiet senior 55+ community can solve the financial problem while still allowing them a single family home dwelling that you can park next to (unlike an apartment) and that is cheap enough to live near you grandchildren in a metro area. Senoir parks also have many community benefits for retirees. The one downside is the space rent that you have to pay to the park that is not under your control. Some parks such as Natural Bridges on the Pacific Ocean near Santa Cruz, CA have astronomical space rents ($5000+/month). Other places such as San Jose have rent control ordinances that limit increases in space rent to 3%/year. A few parks are set up where the residents own the park and so the rent they pay is to themselves and they have democratic control over any increases. In most cases space rent is comparable to property taxes in a normal single family home. Construction of new mobile homes is very adequate and at the same time affordable generally in the range of $100k-$150k. MHPs have been socially maligned but they are a great housing solution and a much better option than most people think.
- thinkmcfly 4y agoI'd advise against a mh for older people. As soon as your knee or hip goes the mh is useless
- Scoundreller 4y agoI think they're mostly describing the immobile kind that's basically a pre-fab home trucked to the spot. Sometimes double-wide.
- dave333 4y agoNot true - MHs can have special shallow stairs that are easier on the knees or even a wheelchair ramp or lift if necessary. All three of these options exist on houses on my street. Also my wife has bad knees but had knee joint replacement surgery on one pre-Covid and is scheduling the other knee post-Covid and she is happy with normal stairs.
- shagmin 4y agoI've known a couple people at least that lived in mobile homes and had a ramp built to accommodate them better. Are you saying for situations where a ramp isn't an option or isn't sufficient?
- alistairSH 4y agoSmall problem - investment groups have realized there’s money to be squeezed out of the tenants. If you can find a co-op park, or something with strong tenant rights and price controls, it might make sense. But buying a MH in a park owned by a family runs the risk of astronomic rent increases and reduced services should the family sell to one of several professional investments groups. https://www.newyorker.com/magazine/2021/03/15/what-happens-when-investment-firms-acquire-trailer-parks https://www.newyorker.com/magazine/2021/03/15/what-happens-w...
- _carbyau_ 4y agoWhat I absorbed: housing shouldn't be an investment market, otherwise investors try to suck the money out of everyone. Whatever corner they try to hide.
- MilnerRoute 4y agoThat's actually one of the big problems with buying a mobile home. They don't really increase in value (as much as, say, owning a traditional home).
- djbebs 4y agoYou understand that investors are providing a needed service, right? Their existence in the market doesn't stop you from existing.
- lm28469 4y agoWe collectively decide what's ok or not. The market is man made, man regulated, if tomorrow we decide housing is a basic necessity we can change that Meanwhile we let the Qataris &co buy flats in Europe capitals and keep them empty as investments vessels, I find that much more disgusting that "think of the investors =("
- djbebs 4y agoAgain, how does the existence of investors making money by providing housing prevent you from providing housing at below market cost? You'll find that it doesn't. That any such restrictions are political decisions not investor decisions.
- scarface74 4y agoThat’s not a “solution”. You never own the land and investment companies are buying up the land and jacjpmb up rent.
- dave333 4y agoTry reading what I wrote.
- scarface74 4y ago> The one downside is the space rent that you have to pay to the park that is not under your control. “Other than that, how did you enjoy the show Mrs. Lincoln?”
- dave333 4y agoIf they jack up the space rent too high they will end up owning an empty park.
- scarface74 4y agoNo because even though a “mobile home” is suppose to be just that, in reality the cost to move your home also becomes unaffordable.
- ben_w 4y agoThat's also true for normal landlords (citation: I am one), but that doesn't mean normal rent isn't getting pushed as high as possible by the fundamental nature of market incentives. I'm of the the opinion that the market which is making me so much money right now is fundamentally broken, and that the only fix is for local governments to be at least half as much in the business of building and letting out housing as they already are in the business of building infrastructure such as roads and utilities — lots, but not necessarily all.
- scarface74 4y ago
- grimacing 4y agoThese were great 10 years ago, but lot rents are too high now.
- scotty79 4y agoIf the solution is putting your senior citizens on wheels than the problem must be seriously borked in some aspect.
- DAVer98 4y agoLol reading this just makes me think Kanye was right
- selfmodruntime 4y ago> mobile homes [are] very adequate and at the same time affordable generally in the range of $100k-$150k. This is absolute insanity. In the midwest or quieter parts of Europe, this would already net you half to two thirds of a nice home.
- yetihehe 4y agoIn 2018 I've started building my home, end of 2019 I've finished it. Total cost: $150k, two story with 3 bedrooms, 2 bath, 2 space garage and large basement. If I started now, it would cost over $300k and I couldn't afford it anymore. Prices now are just insane.
- DontchaKnowit 4y agoI have a friend that bought a house with a full guest house in metro area of missouri for 125k. He lives in guest house and rents oyt the house to travel nurses for more than hist mortgage payment.
- ElevenLathe 4y agoMake that all of a nice home (or several crappy ones). I just bought a nice 3 bedroom/2 bath detached house on 1/4 acres for 120k in May. We're in a city but not a huge one.