Manufactured homes have been met with a wide range of opinions over the years, and to this day there is still much debate between San Antonio residents whether it is better to live in a mobile home or an apartment complex.
Naturally, there are pros and cons to apartments, just as there are pros and cons to living in a mobile home. It’s important to take some time to compare the benefits of renting an apartment versus buying a mobile home outright. Consider the facts below to determine what kind of home is best for you!
Having Your Own Home
Owning a house gives you a lot of perks, even if that house is a mobile or manufactured home. Mobile homes can offer you more equity than you would get if you paid a landlord to live in an apartment, but of course, there are other costs to consider as well.
Mobile Homes Pros
Manufactured homes are easier to maintain and more transportable than constructed homes and track houses. Other benefits of buying a mobile home include:
- Lowered Cost: If you’ve always dreamed of being a homeowner, but don’t quite have the finances needed to pay for a mortgage, you can turn to fabricated homes as an alternative option. You’ll be able to achieve your dreams at a much lower cost, and with a house that is easier to maintain, too.
- Flexibility: You can purchase the mobile home beforehand and have it located on a piece of land you own. Or, if you need to move in the future, you can bring your home right along with you. This is great if you don’t have an idea of permanent residency yet.
- Customization: When you own your home, you can do with it as you please. With rentals, you need to get permission from your landlord to make any changes, which can be anything from painting the walls to building a guestroom.
Mobile Homes Cons
There are some pitfalls to owning mobile homes in San Antonio:
- Bigger Upfront Costs: The easiest way to own a mobile home is to buy it outright. That means you’ll have a bigger lump sum to shell out at once.
- Maintenance: Having a landlord means you have some security when it comes to maintenance and repairs, but when you own your own place, you will need to take care of all the fixes yourself.
Let’s take a look at some of the benefits and drawbacks of apartment rentals in comparison to owning a mobile home.
Renting an Apartment
Millions of Americans live in rented apartment units and lead comfortable lives. There are many reasons why one would want to rent an apartment and have the ease of depending on a landlord for some of the bigger things.
Apartment Rental Pros
The biggest advantages of renting an apartment include:
- Price: Most people can’t afford to buy their own homes, and paying on a month-by-month basis is a lot more manageable. The average two-bedroom apartment in the United States costs between $1,000 and $2,000 a month, which is more feasible than having a $400,000 mortgage.
- Landlords: While landlords are not always the most fun to deal with, they can offer a lot of benefits when it comes to maintenance and repair. They own the building, so they have to take care of the costs.
- Activities and Amenities: Many apartment complexes offer more benefits when it comes to recreation. They often offer swimming pools, gyms, and clubhouses on-site, plus exclusive access to a variety of amenities you may not have when living in your own mobile home.
Apartment Rental Cons
Despite the advantages that apartments can bring, many still prefer to own fabricated houses. The biggest downfall of renting an apartment includes:
- Lack of Privacy: Apartments have shared walls, so there is less privacy when it comes to having your own space for leisure and relaxation.
- No Equity: You cannot earn equity by renting an apartment. Only an owned home can earn you equity, which will increase your own value and financial well-being in the future.
Decide Your Need with Expert Help!
By consulting with a professional, you can get the help and advice needed to make a decision that works in your best interests. While apartment rentals are feasible and easy when you are just striking out on your own, owning mobile homes may give you a better chance at financial growth in the future. Plus, when it’s your home, you can do whatever you want with it. Don’t let your best opportunities go to waste!