- #1
YoshiMoshi
- 226
- 8
So I just got out of college and have about 15k or so saved up. My job pays me about 65 k a year. I have no debt and own my car. I'm most likely going to move out of my parents house in a few months. I think it would be best not to buy a house for at least another decade, maybe two, and take out a 200k loan. I think this is so because who knows, if I never get married and never have children, I don't really need a large house. Not to mention I'm young and might need to move in the future to a different state. I could get fired from my job and it wouldn't exactly be fun trying to pay off a 200k loan working at a gas station. The only thing that is certain is what I currently have and own. So I think it would be best to at least rent for the next decade or possibly two instead of purchasing a house. Since I have money saved up, I was considering possibly other options for living. I know I could live in a trailer park, which would cost less than a mobile home, and purchase a trailer. I would than have to pay lot rent of a couple hundred. I don't think I would want to live in a trailer park the rest of my life just because of the environment. So I was thinking the next step up was to purchase a mobile home. Mobile homes in my area go as low 8k to 20k to 100k +. A single wide mobile home would have three times the living space as the apartment that I rented while completing my undergraduate. So It's a significant more amount of space. Lot rent would be only a couple hundred dollars, I've seen as low as $200 a month. I plan on splitting the lot rent with my girlfriend who would be living with me. So I think this might be a cheaper way of life. Once I have enough money saved up I could even buy a house in two decades plus maybe, if I even ever have the need for one. I know that mobile homes aren't really mobile and cost up to 10k to move. If I ever do buy a house I could move it to my property, rent it out or sale it. I know that mobile homes don't really retain value that much, but still it's something. If I never have the need for a house I could just live in it, well until I die. I would prefer to purchase the land the mobile home is on but that's very expensive. It seems that livable land costs a lot. I thought about buy a blank plot of land to put a mobile home on, but found out that it would cost several thousands dollars to hook up to the electric grid, install septic tanks, and hook up to the towns sewage systems. I even thought about buying a RV from the 1980s for under 20k and just living in that. But the problem with that idea is that I would need to refill the water tanks, and hook up to some electric system, I wouldn't be moving the mobile home much, just living in it.
Given the other options that are out there instead of renting an apartment for the next two decades, I would like to consider them to save money. I don't like the uncertainty of taking out a 200k loan and purchasing a house, especially if I need to move! I'm not as old as some of you are and was wondering what you guys think is best? If it's really a good idea to rent for $1000 a month for the next 2 decades or so, purchase a house and having to take out a large loan, buying a mobile home in cash, buying a old RV from the 1980s in cash and trying to find some way to live in it, or buying a trailer in cash and living in that.
What do yall think? Please share your wisdom and knowledge that I don't have.
Given the other options that are out there instead of renting an apartment for the next two decades, I would like to consider them to save money. I don't like the uncertainty of taking out a 200k loan and purchasing a house, especially if I need to move! I'm not as old as some of you are and was wondering what you guys think is best? If it's really a good idea to rent for $1000 a month for the next 2 decades or so, purchase a house and having to take out a large loan, buying a mobile home in cash, buying a old RV from the 1980s in cash and trying to find some way to live in it, or buying a trailer in cash and living in that.
What do yall think? Please share your wisdom and knowledge that I don't have.