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‘It’s like winning the lottery’: the mobile home owners buying the land they live on
(www.theguardian.com)
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this post was submitted on 03 May 2024
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Buying one's home, but renting the land it is on never made sense to me. The land is the cheap part of the pair. Either rent both or buy both.
This is highly dependant on location. In cities it's often the opposite.
It's intentionally predatory. It doesn't make sense, because it's a trap you're seeing after it already sprung on someone. John Oliver did a great episode on it
This is so weird to read. The appraisal on my home valued the land at about 80% of the value and the actual structure the other 20%.
Mobile homes are very, very rarely in cities where land values are higher than the home values. If that is the case, it is an even crazier idea to own a mobile home on extremely expensive rented land.