Mobile Home Community Own or Rent

There are a variety of reasons that families choose to join a mobile home community. Many of the residents become like family. Instead of taking on a huge mortgage and all of the expenses associated with it, you have the option to create a permanent establishment or to rent temporarily. There are appealing benefits to both sides of this decision.

Permanent Residency

A mobile home community offers all different types of residences. In some instances, homes are already in place for you to choose from. Other times you can choose your own model and have it set up on one of the available lots. Once established you have the option to remain here for as long as you like. When you are ready to leave, you can sell your residence where it stands or move it to another location.

Being a permanent resident means that you do have a mortgage. Each month you are making a payment, adding equity to the investment. For most people, the mortgage payment is more affordable. You aren't struggling each month to handle the weight of a house payment that is overwhelming. There is still some depreciation and a down payment will be required. You will also be paying an additional fee for the lot each and every month.

Temporary Residency

If you aren't interesting in making a large down payment and you don't want the responsibility of a mortgage, you can always rent in a mobile home community. There are lots and models for you to choose from. In some instances you will just pay one fee for the residence and the lot. In other cases you might make two separate payments. One pays the rent for the lot in the mobile home community. The other will be payment for the house itself.

Because you don't have a mortgage, you aren't bound to this location. If you are ready for a change or want to make a move you can end your rental agreement and move on. You are not responsible for selling the place or finding another renter. At the very least, the rental payment tends to be less than a traditional house.

Whether you choose to rent or own in a mobile home community, take advantage of the opportunities that it brings. You aren't stuck with a huge mortgage or rental payment each and every month. If you are considering this type of residence, be sure to look around your local area.

You can search by location, by price, or even by the benefits of extras that come with a specific place. Some of the communities are set aside for families while others are for those of retirement age only. Some will include a clubhouse and pool for use by all of the residents. You can buy or rent, but choose a place that really feels like home.