My friend told me that one of their plans in the future is to retire in the province and live in a mobile home. When I heard it it immediately sounded like a nice idea. After all, mobile homes and manufactured homes are cost efficient compared to building a house from scratch.
Nowadays, it costs an arm and leg to build your own home. I know it’s nice to build your dream home but is it really worth to build something that would get you into a mortgage and pay off a monthly fee 15 years or more? I once read that having a house is more of a liability because it cost you money not just to build it but also to maintain it. That’s why some people choose to pay rent instead and let their landlords do the worrying.
There is also the logistics of your house’s location. Would you rather have your own home then commute an hour or more to work or rent and be at the office in less than 30 minutes.
More than a year ago, we were renting a small apartment near my husband’s office. When we had the chance to move back to his childhood home we immediately grabbed the opportunity thinking that we could save the money that we pay for rent. It didn’t go as planned because the prices of gasoline plus the parking almost covered our month’s rent. We also had to renovate some parts of the house which cost us some money too.
Mobile homes lets you have your own house without getting in too much debt. Manufactured homes offer different styles to suit your needs but would cost a more than the former. This is a practical option for the singles, retired, and even those with small families.