The Pros and Cons of Living in a Mobile Home on Wheels

There are over 43,000 mobile homes in B.C. alone, which shows that Canada’s mobile home boom is here to stay.

Moving into a mobile home is a huge transition, and it’s important to weigh both sides before making a decision. But if you’ve never dealt with this style of real estate, you may not know where to start your research.

Sounds like you? Don’t worry, we’ve got the answers you’re searching for. Here are the pros and cons of living in a mobile home on wheels.

Pros of Tiny Homes on Wheels

Before splurging on a tiny home on wheels, it’s important to know the biggest perks. These explain why mobile homes have become so popular. For example:

Cost-Effective

Getting a mobile home rent to own is more affordable than traditional properties. This is because the land for mobile home is smaller, making it more accessible for families. Aside from regular bills and mobile home insurance, you’ll see your savings pot grow quickly.

Live in a High-Cost Area

There’s been a surge in rent to own manufactured homes and mobile homes in high-cost areas. This is great news for anyone who can’t shell out millions on a property. Instead, find mobile homes located outside of the main area and you’re good to go.

Has Multiple Features

Another perk of rent to own mobile homes is the multiple features. Many homeowners have an idea of their dream property and its amenities. Luckily, once you’ve found the land for mobile home, you can choose what yours will look like.

Flexible

Mobile homes are flexible and suit a variety of lifestyles. If you want to move locations later on, you can easily transport it to the next location. This is a lifesaver for families who often move or haven’t yet found their forever home.

Cons of Mobile Homes

Although mobile homes are great, there are inevitable downsides. The key is to see if any are deal-breakers. Such as:

Requires Different Types of Financing

You won’t be able to get a traditional mortgage for a mobile home. Instead, you’ll need a personal property loan, which doesn’t work with every trailer park. It may take longer to close, so make sure you prepare early.

Limited Layout Designs

Sure, there is freedom to customize the space, but the main layout is a long rectangular space. Unlike a traditional home, you can’t change the footprint of the property. This may be frustrating if you want to grow your family or upgrade to a larger home.

Depreciates in Value

Buying real estate is an investment, but this isn’t the case for mobile homes. In fact, this style depreciates because it is personal property. This is a drawback if you want to sell the home to fund your retirement.

Pros and Cons of a Mobile Home on Wheels

Now that you’ve considered a mobile home on wheels, it’s time to make a decision.

Mobile homes are great for their affordability and flexibility, especially if you want to move around. But take into consideration the limited design and depreciation. Would you choose a mobile home?

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The Pros and Cons of Living in a Mobile Home on Wheels