Business Q&A

Question:
want to buy a mobil home. but, do not know if it will be wise to do so.here in southern florida?

Answer:
OK, this is two different questions. The price of insurance on a mobile home is going to vary depending on how much is insured, and the age of the home (not to mention your credit score, and claims history). These things depreciate to nothing in about 20 years, so if it's really old, and/or not tied down, it will be a WAY LOT. I've seen these cost $400 to $500 a year, with Foremost Insurance. This does NOT include flood.

Second question . .. is it wise? IMHO, a mobile home is a horrible “investment” choice, as you're borrowing money for a depreciating asset. After 20 or so years, they aren't worth anything at all. Plus, most of the time you don't own the land they sit on, either. The only time it's not a bad idea is 1. if you're getting an older one, paying cash, and it's less than a year's rent and 2. you can put it on your own land. Then after the first year, you're living free, essentially.

Resource from yahoo answers business question and answer:
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