Do You Rent Or Own The Home You Live In?

Discussion in 'Retirement & Leisure' started by Babs Hunt, Apr 22, 2017.

  1. Kitty Carmel

    Kitty Carmel Well-Known Member
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    I agree. That's just what I would look for. Wouldn't even need the addition. There is a small double wide for sale but it looks like a cheaper place with wall paper and is a 91. It's about 800 square feet though which I like. Not in my target town either.
     
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  2. Shirley Martin

    Shirley Martin Veteran Member
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    I own my home. We built it in 1970 and moved in in January 1971. Right after we finished building it, construction costs skyrocketed. Right now, it is worth many times what paid to build it.
     
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  3. Ted Richards

    Ted Richards Active Member
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    Don't give up! Get in your car and visit every MHP that you like. MH's are not often listed with realtors and realtors don't really want the listings because there wouldn't be much commission in the sale. Most of these homes are sold simply by placing a sign in their window. If you spot any residents outside, ask them if they know of any. That's how we found ours.

    My son was living in an apartment and wasn't too happy with it. We took him to yard sales one weekend and spotted a sign on an old mobile home. I inquired and an old lady told us all about it, showed us through and said she was asking $18,000 but would take $15,000 and would carry the balance if we could make a $1500 down payment. We made the deal on the spot and he had it paid off in 5 years. It was solid and liveable and he did the renovations over time and it's quite nice inside.
     
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  4. Ken Anderson

    Ken Anderson Veteran Member
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    My older brother had been wintering in Orlando, Florida through a combination of timeshare points and hotels. Then he came across a small cottage in a seniors park, one that was mostly mobile homes, except that this one was a wooden cottage, and it was for sale cheap. He bought it and he rents it out during the summer while he's at his home in Michigan, earning enough to pay the space rentals. It wasn't even listed for sale. The park manager told him that he thought the owner was wanting to sell it, and gave him a number.
     
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  5. Ina I. Wonder

    Ina I. Wonder Very Well-Known Member
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    I admit to being a penny pincher, and no matter what I buy, I always look for a bargain. When we decided to purchase a home, I think my husband had glitter as his idea of a home. When I finally found a home for us, ( He left the searching up to me. He should have known better.), I drug him kicking and almost screaming to an old deserted 1870’s log cabin that hadn’t been lived in in more than 20 years. Poor city boy. :p

    We got 2/3rds of an acre, and a 2000sq ft home for $35,000. That meant we had payment notes of less than $600 a month. I put in many extra hours at work, and we were able to pay it off in 9 years, instead of the 20 year mortgage we signed up for.

    Then we were able to purchase the house next door, which had 4&1/3 acres with it. That house was built in 1984, so it was much more modern, but I didn’t want to live there, much to Michael’s sorrow. :(

    I moved my company, and youngest son into it. :rolleyes:
     
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  6. Ted Richards

    Ted Richards Active Member
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    So, now you have five acres already sub-divided, with two homes for a bargain price.
    Not a penny pincher so much as a downright canny shopper. Glitter doesn't count for much in the long term. I see so many driving very expensive showy vehicles and living in rental dumps because they can't afford the down payment on a home. What a waste of money!
     
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  7. Ina I. Wonder

    Ina I. Wonder Very Well-Known Member
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    Yes, and in the long run, it paid off. After our son and Michael died, I could not properly take care of everything all by myself, so I sold the newer home with the 4&1/3 acres for more than twice what I paid for it. That still leaves me the cabin with 2/3’s of an acres to keep up with.

    But yes, I am a penny pincher. In 1975 I bought a three month old Chrysler Cordoba for $3,500, and I drove it continuously until 2010, when some ^$*#?/&! stole it and chopped it up with an axe. :eek: :mad:
     
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  8. Ann George

    Ann George Active Member
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    About 2 years ago we bought our first "condominium" .... a townhouse in a city, far from our last home, but much closer to our family. We didn't have much to chose from so made the best decision we could under the circumstances. I'm not a big fan of condos (esp. the politics!) so if moving again will definitely consider renting as opposed to owning for the same reasons stated above. Altho retirement communities do have some attraction, they're very expensive for the two of us, long term, so that is not an option for us. Whatever we decide in future we'll take our time and do as much research as possible because it will most likely be our last move.
     
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