HomeBusinessI bought a $140,000 mobile home in an LA neighborhood where homes...

I bought a $140,000 mobile home in an LA neighborhood where homes can cost millions. Here are 5 advantages and 1 disadvantages.

  • I live in a mobile home in Eagle Rock, Los Angeles, where houses can cost millions of dollars.
  • My house cost $140,000 and I pay less than $2,000 a month in mortgage and rent.
  • It is quite spacious, with two bedrooms, two bathrooms and a small garden.

Living in a mobile home allows me to afford to own a property in Los Angeles, California, with lots of space, a yard, parking, and more.

Mine cost $140,000, but in the Eagle Rock neighborhood where I live, the average home cost is over $1 million.

While mobile living may not be the most popular option, there are several advantages – as well as a potential drawback – to the lifestyle.

Living in a mobile home was much more affordable

I bought my house in late 2020 for $140,000 and moved in in the summer of 2021.

My parents helped me with the $30,000 down payment, for which I am immensely grateful. I also saved an additional $15,000 myself to cover moving, furniture, and other miscellaneous homeownership costs.

My mortgage is $864 a month, and I also have a (rent-controlled) rent of $1,100 that covers the lot space and includes waste and recycling services.

In all, I pay less than $2,000 a month to live in a much nicer house than I could ever afford to rent, especially in the competitive Los Angeles market.

Also my property taxes are low because I rent the land and only own the house. These taxes are estimated at 1% of the home’s value, so they are much cheaper than usual.

My house has multiple bathrooms and other useful amenities

bathroom in mobile home with colorful shower curtain

I love having a private bathroom.

Kristin Clifford

My house has two bedrooms and two bathrooms, one of which is en-suite. I’m still getting used to the luxury of a private bathroom that guests never have to see.

I work from home so my second bedroom is a dedicated office space.

My mobile home also has a dishwasher, which I haven’t had in over a decade, as well as laundry in the unit (although I bought the machines myself).

I also have two parking spaces, secure mailboxes and nice neighbors.

Our park manager is a fantastic community resource

My house is part of a mobile home community with about 30 houses on the lot. We have a park manager who plans events for us and helps with tasks such as tracking gas usage.

She is a gem and she has always been super helpful. It’s nice to have a dedicated person to answer questions and keep an eye on things.

As for the events, there are generally a few organized gatherings a year, which is a great opportunity to meet and get to know neighbors.

It’s so nice to have a largely private outdoor space

A green area of ​​Astroturf between a blue and a red mobile home

My neighbor and I share an outdoor space.

Kristin Clifford

My neighbor is the person who told me about the mobile home park where I live, and now we share a yard.

Everyone in the park has some outdoor space and we have combined ours into a beautiful garden with artificial grass. It’s perfect for watching movies outside, organizing a clothes swap, and making room for pets.

While Los Angeles is full of great parks, trails, and outdoor spaces, it’s nice to have something a little more private.

I can decorate to my heart’s content

Interior view of mobile home living room with black-and-gold wallpaper, white fireplace and TV

I put up some wallpaper.

Kristin Clifford

After years of renting, I really enjoy the opportunity to put my personal stamp on my space.

I’ve never been super into decorating because when you rent it all has to come down anyway. But now that I have my own space, I make bolder choices, such as using wallpaper on accent walls.

I love making this space feel like mine and showing people what I’ve done.

The disadvantage is that mobile homes can decrease in value

The only major drawback is that mobile homes generally do not increase in value like regular homes. Instead, they are depreciated in value, like a new car.

But according to Lending Tree, recent data from the US Census Bureau shows that the median value of mobile homes is increasing in most of the country.

Moreover, since I intend to stay here as long as possible, this scam doesn’t mean much to me.

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