ad5000 asked:
I’m considering purchasing a mobile home in the Sunnyvale, CA area, but I don’t want to make a bad financial decision. I currently pay $1555.00 a month for rent, and my thinking is that if I bought a mobile home I could pay about $800 in space rent and about $700 a month in a mortgate payment. So I would spend abou the same on living expenses, but in the end I would own something. The problem would be if the mobile home depreciated in value faster than the balance of my loan decreased. Some other related questions might be: How many years would I have to live in the mobile home to make it worthwhile? Would it be better to buy a newer or older mobile home? Is there anything else I should take into consideration?
HATTORI