Why would someone buy a mobile home (park home) they are depreicating investments?

Question

park homes are big buisness in USA in the wake of the credit crunch!

Answer 1

Even if they maintain some value they are better of than paying rent.  You still have pride on owner-ship and some tax breaks.

Answer 2

Because they can AFFORD them.  If they already have the trailer then all they usually have to pay for is the pad fee which where I live is usually $200-$400 a month.  Someone might buy one with a parcel of land and even later when the trailer becomes worthless the land still holds its value and can appreciate over time.

I think I know where you are getting at and yes, I agree that given the expense of some of these they might as well just bought a regular house.

Answer 3

I would imagine someone would buy a mobile home because they need a place to live and would prefer to own their own home rather than to rent.

Not everyone can afford the down payment required for a traditional home and land.

Answer 4

Many people like them because they offer a private home without the need to maintain property.    This is why so many seniors buy them.

They are simply bought to live in, not as an investment, like a regular house.

Answer 5

Because they cannot afford anything else is probably the answer.

Answer 6

i strongly agree with rtfm not all people are fortunate enough to buy a house and why would you want to keep renting a place all your life if getting a mobile home is another option. by renting you are doing nothing but paying the next man forturne riding around in mercedes, etc.. and living in a nice home with your rent money and taking luxury vacations that only we can dream of.