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There are a number of pros and cons to investing in a mobile home. Before making any investment, it is important to consider the expected return, as well as the amount of the initial investment, because this will help determine the amount that can be spent, and will illustrate any inherent pros and cons. Investing in a mobile home can be a good way to own a place to live without spending a great deal of money, but the return on investment for a property such as this is often fairly low.
Some of the important cons to keep in mind when investing in a mobile home are that it is necessary to find land on which to park the mobile home. It is possible to put the mobile home in a mobile home park, but this will typically require additional monthly fees to lease the area of land and hook up the mobile home to local utilities. In addition, it is important to consider the neighborhood and do research ahead of time to be sure the mobile home is going in a safe and desirable location. If one does not wish to park the mobile home in a mobile home park, it will be necessary to purchase land on which to park the mobile home.
Purchasing land when investing in a mobile home is something that people often do when they will eventually be building a house but cannot afford to complete it right away, or when they simply need extra time to complete construction. This way, a family can live in the mobile home on the property while the main house is being built, and can then simply sell the mobile home when the construction is completed. Of course, some people simply purchase land and leave a mobile home on it forever by placing the mobile home on a more permanent foundation.
Another issue to consider when investing in a mobile home is that mobile home owners receive a title to the home, similar to the purchase of a vehicle, rather than a deed. This can make it easier to sell the home in the future, which can be considered a pro, but it is also unlikely that a mobile home is going to appreciate in value after purchase. If a mobile home is located on owned land, the owner will have a title for the mobile home and a deed for the land, and is not required to sell them together.