Friday, September 4, 2015

Is a mobile home good for a first home?


Right now, I am a student majoring in Accounting. Also, I rent a house with several roommates.

After I graduate and get a good paying job, I plan on building my equity and I want to start with a mobile home as my "bachelor pad". I can go with a 70k home with a 30 year fixed mortgage. My monthly payment might be estimated at $600.

Of course I want to look at other things like the area I want to live in and the value of the house over time. There are also closing costs, too. I don't know how much I want to save for a down payment though.

Of course I plan on getting a real house after marrying.

But is there anything else I am missing here? Is there anything wrong with a cheap mobile home as my first house? I would like to get one to save money and have it as my "bachelor pad" if you will.

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