There are plenty of reasons why someone would choose to live in a mobile home instead of a more traditional housing situation. One of the most significant reasons why many people live in a home trailer at least temporarily is for economical savings. Whether you’re renting or buying a home trailer, there are still costs associated with mobile living. So how exactly is a home trailer cheaper than purchasing a house or renting an apartment? Here’s a breakdown of where you stand to save money if you choose mobile living.
The Many Hidden Costs of Traditional Home Ownership
Irrespective of the higher initial price you are bound to pay for a site-built home, there are additional aspects of home ownership that will cost you more in the long run. Here are some of the costs that can be significantly decreased or even avoided by purchasing a mobile home instead of a house:
Where a Home Trailer Stands in the Housing Market
Contrary to popular belief, mobile homes on their own lots appreciate in value just as houses do. Owning a home trailer is also less risky than owning a traditional home; if the housing market crashes, the value of your home trailer will not suffer as great an impact.
If you’re deciding between renting an apartment or buying a home trailer, purchasing the home trailer works out better economically because the rental cost for an apartment is likely to rise over time, while any mortgage payments you may have to make for the trailer will remain consistent up until you’ve completely paid them off. If you decide that a home trailer isn’t for you after all, you can at least sell it for a lump sum that can go towards your savings or new home, as opposed to ending a lease with no extra cash.
Mobile Living as a Step Towards Buying a House
If your goal is to eventually own a traditional, site-built home on a property, renting or purchasing a mobile home first can be a great help. If you have extra rooms in your home trailer, you can rent these rooms out to make mortgage payments or have an additional source of income. Renting out rooms in your trailer can continue to be a great source of income even after you have moved into another home.
At Miller Office Trailers, we rent and sell premium quality mobile home trailers that provide modern amenities for comfortable living. Whether you’re looking to have a mobile lifestyle temporarily or long-term, we can guarantee we have a quality trailer that will feel like home while you’re on the road. Contact us today for your home trailer needs!
