Rent a House or Buy a Mobile Home

By
Real Estate Agent with Century 21, The Real Estate Centre, 410-665-0200 Office 634480

Rent a House or Buy a Mobile Home

 

Someone is new to an area and they want to buy a home, but they do not know the area well enough to commit to a purchase.

 

They decide that they will rent for a year, get to know the area, and then purchase a home when their lease is ending.

 

For those buyers who have the money for a good downpayment, they could take an alternate route.

 

They could purchase a mobile home. 

 

If a buyer was going to purchase a home for about $300,000 and put 20% down ($60,000), then they would have sufficient money available to buy a mobile home.

 

The mobile home would have a monthly ground rent, but the ground rent could be only one third to one half of the monthly rent for renting a home.  For instance, the ground rent may be $400 to $600 per month, while a rental may be $1200 to $1500 per month.

 

The closing costs for buying or selling a mobile home are minimal when compared to the sale or purchase of a home, so very little money would need to be recouped.

 

Similar to renting a home, after a year in the mobile home, they could sell the mobile home and then purchase a more permanent home.

 

When everything is considered, the mobile home option may be a little bit more complicated, but it would likely save the buyer money.

 

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Rainer
442,951
Kathryn Sparks
Zenith Realty - Baltimore, MD

Ron,

That certainly sounds like an alternative that is worth considering.

Jun 12, 2020 10:53 AM #1
Rainer
424,887
Karen Krzniak
Zenith Realty - Towson, MD

Ron,

If things went in their favor, they might even see some appreciation in the value of the mobile home.

Jun 12, 2020 10:54 AM #2
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Rainmaker
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Ron Trzcinski, 410-935-5844

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