So not as good a deal as I had thought at first. There is little difference between as manufactured home and a modular home as far as codes are concerned. If you're in the ghetto and living in a mobile home park, I can understand why people might look down on you, but not in the towns we're looking at (Torrance and Redondo Beach CA). Anyone that has been inside a mobile home knows this. The lifespan of mobile homes is a frequently discussed topic and a curious consideration. Except for the crappy polybutylene plumbing, everything else is in great shape. I grew up in mobile homes. You can also see the comparison of prices for new manufactured homes vs new single-family site-built homes and the average cost per square foot. The lifespan of mobile homes is a frequently discussed topic and a curious consideration. and the fact that, by design, the framing is reduced. The perception that the life of a mobile home is shorter than other kinds of housing is off-base for a couple of primary reasons. However, the life expectancy of the manufactured home should be less of a concern. Once the boat is paid off, you just have to pay for the slip rental, and could get up and move whenever you wanted. The mobile home industry has faced more twists and turns and valleys and peaks than any other industry that I know. Homes built in a factory have the benefit of indoor storage space. How Long Do Manufactured Homes Last? Age. In the past (prior to 1976) the general term for this style was mobile homes (trailers) but modern manufactured homes have strict building guidelines that overcome the common pitfalls of mobile trailers. Also, you wouldnt buy too much clothes and crap since you dont have too much space to have it. If it doesn't have a permanent foundation, banks often treat it like a car loan as well. Part of it is the depreciation. So if you buy for for 60k you need to expect it to go down to near zero in value and be ready to buy a newer one. How long do manufactured homes last? If you bought a mobile home 15 years ago, you'd have no equity since you don't own the land and whatever you've paid for the mobile home has almost completely depreciated. What are the legal requirements? Sellers (Resources) Homes do usually appreciate over time, if you factor that in you may not be saving much. Reselling them seems harder also. I'm not sure if a mobile home park might not be more crowded. However, given the same care as other types of homes, mobile homes should last forever. The housing market here is completely insane. Mobile and manufactured homes are delivered to a home site in partially constructed pieces, unlike a traditionally built home that is constructed completely onsite. It's basically renting with a stigma. I would imagine your cost of living would be minimal. But the actual materials are the same in a manufactured home as in a stick-built one. But a really nice thing about it is it can be cheap, so you can sink more money into savings, it's a pretty mobile lifestyle which means you can easily move for jobs. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Thoughts? The cost of the mobile home isn't just the home but also the space and hook-up fees. I knew some people in the Navy who did so. I've lived on a sailboat for the last years, but looked a bit into mobile homes as well. ...unless we were to buy a mobile home. I guess it would appeal to my minimalist tendencies, but I know it would be crazy to live in a boat with my wife, dog and hopefully future kids. A lot of older people do both and travel around cheaply while living off their retirement savings. Press J to jump to the feed. And mobile homes are some of the lowest-priced options. I just don't think it's a simple apples-to-apples comparison in terms of the financial benefits. They're a 2x4 frame wrapped in a thin veneer (not even 1/4" thick in a lot of cases). Also, they have enhanced design and material usage practices that continue to improve all the time. Why would a manufactured home wear out any faster than its counterparts? But there are five variables other than owner care that will affect how long a mobile home lasts: 1) The HUD projection was based on todays’s standards for mobile home construction. I feel like I'm missing some information here about why I wouldn't want to live in a mobile home park. The areas I'm looking in are in very nice parts of town...not ritzy, but definitely safe and with good access to services and businesses. It's impossible to find a home in an area we want to live in for under $450k, and even those homes aren't in very nice areas. Join our community, read the PF Wiki, and get on top of your finances! 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