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Get yourself into some cheap Real Estate
Posted by Lorraine Ross on April 14, 2009.specials { border: 8px outset red; };
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Given the current economic climate, it may be well worth your while to have a second look at manufactured park homes. Park homes are a great options for those looking to downsize, such as retirees who require a much smaller house than the one they had when raising children, to those looking for a great holiday retreat for a fraction of the cost of a regular dwelling. With the right location, your park home can give you a great rental income as well.. why not use it for your own holidays and then rent it out when you are not there? You get the best of both worlds this way, and the dwelling can effectively pay for itself!
If you decide to take the plunge and invest in a park home, rest assured that due to the implementation of the Federal Manufactured Housing Program, (which has been established to protect the health and safety of the owners of (mobile) homes through the enforcement of the federal manufactured home construction and safety standards and administration of dispute resolution) you know that you will get the best outcome possible for your investment.
Park homes have really come a long way.. they can now be very stylish additions to your vacation property, and can add value to your own home in the form of guest accomodation. This can be handy when you would prefer that your rowdy teenagers are out of earshot from the main house, or great for in-laws or those with frequent out of town guests. Features such as lofts make the most of the available space and are well integrated into the modern park home so that park homes no longer have the cramped feel that you may have experienced in the past.
In a nutshell.. take a new lookat park homes. You may be very surprised at the options now available!
Unfortunately, a lot of people don’t understand that NOW is the best time to purchase real estate. It is almost humorous that some people think that down prices in the market means its a bad time to buy. Does this make any sense, to anyone with an education higher than 3rd grade?!
-Rick
How can a park home add value to an existing stick built home? Are you talking about planting it on the same property as an existing home?
Home buyers can really have a field day because there are lots of attractive offers around. And, yes, park homes are good options these days. Very modern, indeed. Great digs for the minimalist.
Lorraine,
Mobile homes are plentiful here in Florida and I don’t know why most investors forget about them, but they really are something worth looking at when you’re looking for making money.
I found out that you need to be careful though about homes manufactured before a certain date. Insurance is hard to get. There’s always a little idiosyncrasy with each real estate investing niche. Unfortunately, I haven’t always had that knowledge before diving head first into trouble.
Sounds like a good investment idea for those without a lot of money to invest.
The nice and good home have additional investments and you must assure the basic conditions.
I agree! My family had a “camper” when I was growing up that my dad built a huge addition onto and it was our second home! I loved the time spent there and now they’ve invested in a bigger manufactured home and it’s beautiful. People have a negative response to “trailor parks” but they can be excellent “home away from homes” in the summer for the whole family!
This might be pretty helpful in this area for retired vacationing folks
Thank you for this information, as this couldn’t have come to my attention at a better time. My wife and I are looking to buy a sort of “getaway home” as we are nearing our retirement and I never even considered this type of unit. My only question is, I browsed to the link you provided in the article and it does not offer Florida as an option. Are there options for those living in the Central Florida area to take advantage of park homes or RV-like residences? Any information would be greatly appreciated and thank you again for the worthwhile info!
And a state park take my retirement home state would like to visit …
Thank you for writing.
Great post! I don’t mind “park homes” sometimes they’re alot nicer than a small apartment or condo anyways!
Well, a park home is just not a home IMO. But if its a choice between no home and a park home i get your point.
The global economic crisis demands search of new ways from all. Thanks, good very actual information.
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