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Discussion Starter #1
Need some thoughts on buying a place. I'll be in the house for maybe six years then sell. My big motivation is to buy something to keep from paying rent. My two options I'm considering is a trailer for 40k or a house for 80k. Trailer appears to be in a better looking area than the house. Pretty much same specs on both. House has a large shelter for cars and more private back yard. Trailer has storm shelter and small shelter for cars. Guessing my rent over six years I'd pay 36k so if I lost 36k when I sell which isn't likely I'll break even. What are your thoughts?
 

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House. No lot rent, no hoa bs. Any appreciation is likely to be higher with the house.

Some repairs on trailers can get annoyingly weird. Have had friends attempting basoc stuff ( bathroom fan ) discover what was used was some oddball size fan, and only that will fit.
You get more "standard" sizing from a real house.
 

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Absolutely house, far better ROI potential. If you were more dead set on a trailor because of the short tenure, I'd even consider a nice 5th wheel. You can take it with you and have more options on reselling I think.
 

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House. And farther away from your in-laws if you have them.
 

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Six years is a relatively short timeframe. You may or may not get your money back. Prices are high and interest rates are low right now. What would happen to prices in most areas if interest rates rise over the next six years? Not saying it's going to happen, but something to think about.
 

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House. No lot rent, no hoa bs. Any appreciation is likely to be higher with the house.

Some repairs on trailers can get annoyingly weird. Have had friends attempting basoc stuff ( bathroom fan ) discover what was used was some oddball size fan, and only that will fit.
You get more "standard" sizing from a real house.
Agreed about trailers being weird with no clear standard of construction. Had a friend mount a tv on the wall in living room using 3” screws which would have been great had the wall been actual 2 by 4 studs instead of 2 by 2. Screws poked out of wall in bedroom.
 

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Houses appreciate, trailers don’t. Someone above mentioned lot rent and HOA bs. Those are valid considerations, as well.
 
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House
 

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I'd back up a step and question whether or not it's smart to buy to avoid paying rent. Sometimes it isn't.

In my experience, if the monthly payment is about the same on the rental and purchase, then the REAL cost is much, much higher for the purchase. Repairs and updating are huge expenses and come with the territory of buying a house.

The house option makes more sense if you live there long enough for the appreciation to overcome the repairs and updating costs.

At six years, and with the inexpensive properties you're mentioning, I'm smelling money pits. If so, then you might come out a lot better off keeping on renting.
 

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Discussion Starter #12 (Edited)
My first thought was a 5th wheel but there is no place to get gas. Trailer comes with a lot so no rent. It's so rural area buyers would be fairly limited when it's time to sell. Another thing to be considered is with the trailer I'll pay 15k less in payments and with any luck be able to save that. Might also pay cash for trailer I won't for the house.
 

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Discussion Starter #13

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Risk vs Benefit.
Sounds like buying either has a lot of risk (given current real estate bubble) with little financial gain.
Keep renting and be glad you can easily move when you need to.
 

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Forget the trailer. Go for the house. Regarding the monetary considerations.....Calculate the cost of the house payment, other utilities, maintenance and any tax implications vs the cost to rent, utilities if any and possible rent credit. Gauge the potential appreciation of the house over the time you are going to live there! Those numbers will tell you if it's worth it to you.
 

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House....put some lipstick on it before you sell and you could make a profit. Do a 15-year mortgage if you can.
 

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House....put some lipstick on it before you sell and you could make a profit. Do a 15-year mortgage if you can.
I would think more like $40k down payment and a 4 year note.
 
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House.



Trailers seem to attract tornadoes. Or so it seems from the evening news. The first pictures they show are the trailer parks all torn up.

:rolleyes:
 

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I bought a house for $220,000 about 7 years ago. I sold it for $315,000 this year. My "rent" was free and completely paid for the entire time I was there. My housing cost was completely free and reimbursed to me at the time of sale, plus some. I think you will have better return on investment with the house than the trailer, especially if you spruce it up, clean it up, make some small repairs.
 
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