Why not just rent a room in someone else’s trailer? That’s what my H did when he was in the military.
I mean he only has a few years of school, is buying a trailer really worth it?
In addition to homeowner’s insurance, would liability insurance also be required, if he rents it out?
I would think trying to sell a mobile home in a few years is going to be difficult…
Yes. The parents have to think about that time frame. Selling a mobile home, particularly after college boys have lived in it a few years, may be very hard.
What then? You have a modest income, you could be stuck with payments or repairs to get it ready to sell…and it may take a long time to sell.
I have gotten some excellent deals on real estate because of parents buying condos for their kids’ college years. Once the kids graduate, the parents put them on the market…and they sit…and they sit. Then after they’ve been on the market for a year or more, and they’re desperate to get rid of the payments, HOA dues, taxes, etc, they drop the price.
Stuck with payments, repairs and pad rent too!
Were you planning to buy a trailer anyway? If not, don’t do it just for college purposes.
Excellent suggestion about renting a room from someone else. That sounds like a better deal.
There are many states, including Montana, where it is not difficult to re-sell a mobile home especially if it is in a nice park. Mobile home living is more of a way of life. Texas has an entire state agency that just deals with mobile homes. Florida has a pretty established system too.
My BIL’s mother was visiting and saw a small MH park along the highway and just said “Oh, those poor people” She was from the east coast and just couldn’t believe people live in mobile homes. In the west, it is common.