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In Florida, Buy a Mobile Home on a Rental Lot in Haste, and Repent at Leisure
There is an old proverb that says "Marry in haste, and repent at leisure". I suspect many a visitor to those little wedding chapels in Las Vegas can attest to the validity of this saying. Here in the Zephyrhills area of Florida I often have home buyers call me and they tell me that they have seen a mobile home for sale for just $15,000! Now that is an unheard of price here unless the home is in ruins. What turns out to be the case, is that the home is located in a park where you do not own the lot. You rent the land from the park owner, which is often a larger company.
Unfortunately, what sounds cheap can quickly become very expensive. First, keep in mind that you will be obligated to pay monthly rent to the land owner which can commonly range from$200 to $500+, depending on the location. Not only that, but you will not likely have any say in future rent increases. If they become too high your only options will be to either sell your home or have it moved. Not a cheap operation.
Second, the management will make all the rules that you ... more
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