Camper or house - need advice

[ButterflyBreath]

Hi everyone and Happy Holidays.

I need some advice. I am weary of moving around so much and my goal for sometime in 2014 is to either buy a house, or buy a camper and live on some land my dad has. Whatever I decided to do I want to stay there for awhile because I move around so much and it’s exhausting. Obviously not a problem if I buy a house, but living in a camper can be cramped and I’ve lived in small places all my life an am itching for some room. The appeal to camper living though, is that assuming in can pay cash for a camper, I can save up money to buy land/house later. And, of course it’s simple living!

So here are my options as I see it:

Camper – buy a camper and put on my dad’s land. He already has a well for water, electric , and sewer, however these things will need to be worked on to get where I can use them. I can expand my space buy making outdoor living spaces so I won’t feel so cramped. So my only expenses will be whatever it takes to get the well working again, and then utilities once I move up there. His land is not where I really want to be, but it's not far so I can drive everywhere I guess.

House option 1 – buy a small house just for me to live in, so it will be small but the mortgage will be affordable on my income.

House option 2 – buy a 3 bedroom house and rent out a room or two and split utilities so that it’s more affordable. I won’t be able to get as nice a house because I can only borrow so much on my income but maybe I can fix it up.

The problem with buying a house is that It’s all new to me and I’m having to learn all the terminology and the process, etc. It makes me a little nervous because I work in home health and don’t always have the same hours. However I’ve always been able to pay rent, so this makes me think I could pay for a house.

Any suggestions on what would make the most sense? Ok, a little more background info. I’m a first time homebuyer. I only have $2000 to work with (either to buy a camper or for down payment or to lower my debt to help with the process). I have good credit.

Whenever I think about buying a house, I wonder if it’s a good time to, and I do believe we are in a collapse and that maybe it’s not a good idea to buy a house. Campers are mobile. However it would be nice to just finally have a place of my own.

Thoughts?

[SteveinMN]

Hi, ButterflyBreath. Merry Christmas!

Big question; the answer is not so simple. Some questions I don't recall seeing answered in your post:

- A camper could be an undesirable dwelling someplace where there is extreme cold or heat and it could push you to think of safer shelter if you live in hurricane/tornado country. I'm guessing Tennesee does not see the extremes other parts of the U.S. do, but still...

- What are your ultimate goals for this property? Do you foresee moving away from the area anytime soon (for work, romance, whatever)? Building equity as part of a financial portfolio?

Beyond those bigger questions, I see some things which make me think it's not a good time for you to consider your own place -- camper or house.

First, if you really meant you have only $2,000 to work with (not $20,000), buying a house is out of the question. Closing on the house could cost that much, nevermind what you would spend on immediate repairs, tools you will need but don't have now, etc.

Second, if you do go for your dad's property, have you budgeted for the additional fuel and maintenance your car will need because of the greater miles? If you're smart, you'll add that right into the cost of living wherever. Around here, when the housing bubble burst, houses in the far-flung suburbs sat unsold for a long time because people finally did the math and figuring out that, at $4 a gallon for gasoline, commuting 50 or 60 miles roundtrip five days a week was going to cost them a lot of the money they thought they were saving by living out in the boonies.

The primary rule of real estate is location, location, location. If you have plans to move on from this property sooner than later or hope for appreciation as part of your portfolio, a small one-bedroom house in a popular location likely will do better in resale than a three-bedroom house away from where people want to be or work. So ... what else can you tell us?

[Tammy]

Rent a house for a year to see if you like it?

[ButterflyBreath]

Tammy, I’m 38 and I’ve been renting since I was 17… It’s such a waste of money. It’s time to do something that makes more sense.

SteveinMN:

Chattanooga winters aren’t too bad. I have heard though, that campers are not well insulated and hard to heat. Maybe I can wrap it in plastic lol. The camper idea was a way to have a place to live (technically) and not have to pay rent so I can save up money to buy a house or land later, when I have more saved up. Also, I could take the camper with me, so as long as I take care of it and even make improvements I won’t be losing money. Later it can be used as a guest quarters, storage, or rent out if someone else needs it. The one thing Chattanooga does experience is tornadoes, which would obviously be a problem. There is an old basement on the property though, and it’s set into the ground so I could always move to that area if there’s a tornado warning. However my camper would be blown to smithereens!

The property I would be staying on is my dad’s old property, and he has planted many valuable trees and such on it. They need to sell the land at some point, but I can see that he’s very attached to it. So long term plans might include buying that land to keep it in the family or buying other land. Living on it first in a camper might give me an idea of whether or not I can deal with being there longterm. It’s where I grew up, but as an adult I look at things like location very differently than I did as a kid.

I have also had dreams of building a tiny house on wheels. I am a nomad at heart, so this idea would suit me well, but as I get older I crave space because I’ve never had it. It has been hard to reconcile the nomad and the weary gal who wants to have a permanent home.

About the money, I’m just not very good about saving up and being a nomad I have a hard time thinking or worrying about the future. I work, but it has just been somewhere between part and full time for the past year because I can’t seem to find a home health agency that can staff me full time. So I’m working on getting more stable financially. I will say that I’ve talked to a mortgage company… they checked my credit and income history and since I only want to buy something $60,000 or less they said it’s probably doable as a first time homebuyer (Some rural FHA loans are financed 100% and I could use the $2,000 to lower my debt or do home improvements). I would just need to buy something that does not have a major fix in the foreseeable future. Of course you never know though.

Actually, living on my dad’s property would be ok regarding the extra fuel and miles because right now I live on a mountain and have to drive up and down all the time (I am renting a room in a friend’s log cabin on a small farm). I already have a 45 minute drive to work as it is. It would be less if I lived at dads! Living there would be nice to see if the property grows on me. It’s 8 acres!

[Teacher Terry]

Also there may be some first time buyer programs in your state. We have two here. One will triple your down payment up to a max of $15,000 and one they give you a 20,000 loan to fix the house & then it is forgiven if you live in it for 5 years. My kids will be buying this Spring even though they only have 2,000 to put down. With the low interest rates & our low taxes their total payment on a 100,000 home will only be 700/month so they figure it is time to lock in a fixed rate they can afford on only one salary. I would definitely see what your state has to offer.

[Dhiana]

While the idea of paying to own a home vs. paying rent seems like a good idea when you run the numbers, reality gets in the way.

Having a good job within reasonable commuting distance for the entire life of that mortgage gets smaller and smaller as time moves on. No job is secure anymore and I really believe flexibility will become the key for finding and keeping a job. Getting tied down to a home which you can barely afford to purchase at this time will greatly reduce your flexibility.

Many friends have purchased homes and had to then rent them out to follow/obtain a job elsewhere and not a single one was able to rent it out at a high enough rate to cover the mortgage plus homeowner's fees, etc.

From the information you've provided, I do agree with Steve, you just don't have enough saved up to make this a good idea at this time.

[Tanglefoot]

I was going to recommend a tiny house on wheels even before I got to your second post. That's what I have planned.

I do love spending small periods of time in campers but they're usually not very well suited for long-term habitation. Insulation is lacking, as you mentioned, the systems don't always work very well for winter/frequent use, and the appliances could stand to be more efficient and effective. The build-quality of RVs is often pretty marginal.

I've been a homeowner for about 8 years and I'm looking forward to selling, building a portable tiny house and renting space on my sister's property. The financials of home ownership often aren't better than renting. Most of the house payment is interest for the first portion of the loan duration, and there's a lot of extra expense, commitment and responsibility. Home value often doesn't keep ahead of inflation. Although renting might seem wasteful, it can be pretty liberating in comparison to ownership.

I currently live with others and it seems to get more difficult with time, especially for an eccentric independent like myself. I'm really looking forward to my own, completely-personalized tiny space.

I love the advantages of a self-built, tiny house on wheels. The framing and insulation are comparable to a house, it's a blank canvas and can be designed and constructed any number of ways with any number of materials, and it is just such a creation of freedom in design, financial/resource independence and mobility.

I've been enjoying planning my build: a minimalistic, off-grid mobile shanty of about 8x16 feet of salvaged/reclaimed materials, a full-length loft, large amounts of glass on the South and East, high-reflectance roofing, a small 12v solar-battery electrical system (~100W of PV, single deep-cycle battery), minimal, gravity-fed plumbing, a solar shower, humanure composting toilet, a marine solid-fuel heater (basically a tiny woodstove), a homemade solar oven, portable alcohol stove, 12v compressor cooler as a fridge...

[Teacher Terry]

Also you can roll the closing costs into the loan so you do not need that much $ to close. Sometimes too your realtor can negotiate that the seller pays part of all of your closing costs. If you are only looking to borrow $60,000 your payment should be pretty low. You just want to make sure that the house you buy does not need a ton of repairs because that could sink your financial boat. If you ever had to rent it to cover costs with a mortgage that small it would seem to be doable. If you were taking out a big mortgage then renting it would not cover your costs.

[Blackdog Lin]

I have to agree with the naysayers on a house purchase. You say you're "not very good about saving up". In your price range I would think you'd be at the very least buying an older home, and even one that appears to be in great condition.....

.....well, I am reminded of our situation in 1980, with our structurally sound (but ugly fixer-upper) first house, with affordable payments, that we moved into in September, on Christmas Day the sewer line collapsed. And it turned out that the sewer line went for hundreds of feet through our backyard before it hit the city's lines. And it HAD to be fixed, so we had to find the $1000.00 to get it done. Thank goodness as denizens of a very small town and with a reputation as "good kids", we were able to get a little credit forbearance from some tradesmen, and we ate beans and rice for months to get them paid off.

But it taught me a valuable lesson. I am a firm believer in home-ownership, but only if you are able to budget and/or have emergency funds for home repair. "Cause something ALWAYS goes broke and needs fixed when you're a homeowner.

[ButterflyBreath]

Blackdog Lin, I was hoping that by having a mortgage and putting my money into something tangible it would help me save by putting equity in something.

It sounds like the concensus is that I should hold off on buying until I have more saved up. I just want to make sure that if I spend the $2,000 I do have it's a good decision.

[try2bfrugal]

Houses can be real money pits. We have had repairs like plumbing replacements and foundation issue that were over $10K each.

I would agree with the others on not buying a house with a loan at this time. Do you have an emergency fund? Do you have health insurance, and if so what are the deductible and out of pocket maximums? Do you have a car and how old is it? Two thousand can go pretty fast if you lose your job, have a big car repair bill or have really any kind of non-routine medical or dental bills.

[ButterflyBreath]

Ok I have an idea! I didn't even consider buying a mobile home, but maybe that is more in my price range, it's mobile, and will give me more of a house feel than a camper. I will look into pricing and what all is involved with that. Maybe I can find one around 600 square feet, a mini mobile home. I have an aversion to living in a mobile home (I grew up in them and I think it reminds me of when my parents were married), but it really does make the most sense. Probably more secure than a camper too. I have been thinking about the fact that I will be alone on the property.

[SteveinMN]

Ok I have an idea! I didn't even consider buying a mobile home, but maybe that is more in my price range, it's mobile, and will give me more of a house feel than a camper. [snip] Probably more secure than a camper too.
ButterflyBreath, why do you think a mobile home would be more secure than a camper?

[ButterflyBreath]

I don't know. I just assumed. Bigger doors, bigger locks, etc.

[ButterflyBreath]

Question. I found out recently that it's harder to buy land without a house because it requires more down payment. If I find land of my own and put a trailer on it, would the down payment be lower than if I just buy land without a dwelling? The reason I am asking is because my dad's land is on the side of a small mountain with a less than desirable driveway. I wouldn't mind paying to move it up there, but when he moves I would have to move it again if the buyer doesn't want the trailer, and I'm sure it will be expensive to move. Seems to make more sense to go ahead and put it on a property that I own so I don't have to move it.

[redfox]

Check out these affordable home ownership options in TN:

http://www.cltnetwork.org/index.php?fuseaction=Main.MemberList&state=TN

[Teacher Terry]

Mobile homes are very expensive to move around here. When my MIL died we sold hers because it made no financial sense to move it. She was renting the land it was on.

[ButterflyBreath]

Yes, and that's why I was considering a camper...easier to move! Thank you for confirming this : )

[fidgiegirl]

I wonder if the home ownership question is the wrong question to be asking in terms of long term financial stability - or perhaps only part of the question. I do not know what your employment options are in your area of the country, but in my area, home health is not at all a lucrative field to be in. What would be some ways you could increase your income? If you like health care, a nursing degree? That's one idea, and I'm sure not a very creative one, but I do know a number of nurses who are doing well. Just wanted to throw that out there. Saving money can go a long way, but coupled with increased income, it can really make a big difference in long term financial security.

[shadowmoss]

You could look into buying a wooden storage unit and insulating it and improving it, making it basically a 'tiny house' that could stay moveable, but not on wheels. Put it on the family land, and go from there. You would learn many things, like how to install plumbing and such that will do you well when you do buy a house, and also what you really need to call a place a home.

[boss mare]

When you say camper are you talking about a cab over camper that sits on a bed of a pick up truck? Some things to consider is that the older ones do have a tendency to leak . water and sewer hook ups need to be figured into this. The stove /heater are propane.. need to watch for carbon monoxide issues. They can also be money pits, along with travel trailers and motor homes.

[Simply Divine]

If I were you, I would just build my own vardo camper (http://www.tumbleweedhouses.com/cart) with scavenged materials since the budget is only $2000. Apparently they are not that hard or expensive (http://tinyhousetalk.com/tumbleweed-vardo-camping-tiny-house-plans-on-sale/) to make, since Jay Shafer built one with only a few hundred dollars out of mostly recycled materials.

[mschrisgo2]

My suggestion is that, before you buy anything, you take a careful look at "Tiny Houses." (Google, and study, maybe even visit a couple). Older camper/trailers/motorhomes are a really poor option IMHO, for quite a number of reasons, some of which you've already expressed concern about: security and insulation. The doors are not solid, generally don't have dead bolts, and one of about 5 keys seems to open every one of them (we were witness to a demonstration of this in a campground one time- guy had 5 keys and was able to unlock 19 of 20 units.) Until the mid 90's very little attention was paid to actually insulating these things, so they can be miserable both in the cold and in the heat. Also, anything with a mostly flat roof Will Leak when it rains.

You may be able to find campgrounds in the Chattanooga area that use trailers as "cabins" - it might be really enlightening to spend a night or two in one. (if you were on the West coast, I'd know right where to send you.)

Good for you for exploring options! Keep us posted.

[ButterflyBreath]

Thanks for your replies! Actually, I didn't expect to buy anything this soon, but I looked at a camper today and am going tomorrow to buy it, as it is a good deal.

It's a 33' Yukon Wilderness camper built in 1988. I doesn't have any structural problems that he mentioned or that I or my dad noticed. The bathroom needs a little work (the toilet needs a seal or hose replaced, and the sink needs to be replaced) but for $1500 I think it's a good camper to start with. The owner and his wife lived in it, so a lot of the bulky furniture has been removed, which is fine because it would be very dated anyway.

My dad admitted though, as we were driving back, that the property I was thinking of putting it on... the driveway needs a few thousand dollars put into it to get it where I can drive my car up it. I can't live up there if I can't drive my car up to the site. So... we are discussing other options because he won't have the money anytime soon.

[ButterflyBreath]

To answer your question about what I do in home health, I'm an LPN. I make a living wage, but my problem is that lately I haven't had enough work even though I am available to work full time. I'm working on finding a company that can employ me full time.

[herbgeek]

I looked at a camper today and am going tomorrow to buy it, as it is a good deal.

Are you serious? A month ago you were posting that you were about to lose your job, and you're going to sink what little money you have into a camper that you have no place to park and may not be habitable as is, and you won't have any cash to fix? I must be missing something, because that doesn't make any sense to me.

[ButterflyBreath]

Are you serious? A month ago you were posting that you were about to lose your job, and you're going to sink what little money you have into a camper that you have no place to park and may not be habitable as is, and you won't have any cash to fix? I must be missing something, because that doesn't make any sense to me.

In my opinion having something to live in that is paid off makes more sense than renting if I am ever without a job. The camper seems very sound except redoing some things in the bathroom. It's too small (the bathroom), but I can live with it. Interestingly, one of the issues brought up here has been security, and since the owners lived in it there are nice big deadbolts on both doors.

About where I'm going to put it... I have relatives in the area willing to let me park it on their property while I work on it. In the meantime I'm going to talk to banks to see if there's any way I can buy a small piece of property to put it on to live in. I doubt I will find anything unless maybe owner financed. Luckily I have some time, as I am not pressured to move out of where I currently live. I can't wait to have something of my own though. So maybe that will provide some motivation to get this all figured out. Worse come to worse, the lady I rent from right now said she would not charge me to have it on her property, but that won't be a good long term solution.

About work... I tend to freak out easily because my workload changes so much with home health and when I originally posted this I had lost (temporarily but maybe permanently) my regular case. However yesterday I started a new case that looks promising for long term work. And if I can't do nursing I can always do caregiving. I just get stressed about all the work fluctuations with schedule and hours. I won't actually loose my job.

[ButterflyBreath]

Arrrrgh. Ugh. He sold the camper out from under me this morning! I asked him this morning to see the camper without all the stuff he has in it right now so I could see the floor, etc before giving him the money and he said he'd call me back. Well he didn't, and when I called him about it and told him I was on the way with the money he said he had already sold it! I'm sorry but I really want to see the floor before I buy something I'm going to live in. My dad said it was a great deal even if I had to replace a little flooring. Oh well, I guess it wasn't for me.

[Tanglefoot]

Do look carefully at ordinances--you have to be really careful about living in an RV. If on land that is within county jurisdiction, common policy is that you can only stay in an RV for 30 days in one place. There are loopholes that can sometimes be used. A lot depends on how likely any neighbors/passerbys are to file a report/complaint and how zealous the ordinance officer is. In some areas, living on land that does not have a single-family residence on it does not fly. Staying on your landlady's property may be easier to get away with if you claim that you only "camp" in the trailer. Just be aware that your living situation will likely be illegal. I would get as well versed as possible in the county/city ordinances where you live, look for other local rulings you could cite, and keep a loophole or two on hand. Be prepared for the possibility that you could be required to vacate your space...have other options.

A common strategy for tiny-house dwellers is to rent space on others' land as opposed to buying land. That way, they're not tied to an investment in case they are forced to move along.

It's unfortunate that regulations are so unaccomodating to alternative living. Things are starting to change in some areas, and it can always be an opportunity to spearhead local change, as laws and ordinances are "by the people". If you don't want to get active in local politics, many also choose just to live quietly and hope not to get caught.

Do some research in tiny house (regulated the same as RVs) legality--there are resources and discussions around that could be helpful, and the tiny house movement is very resourceful in legal work-arounds and ordinance reform.

[Simply Divine]

Arrrrgh. Ugh. He sold the camper out from under me this morning! I asked him this morning to see the camper without all the stuff he has in it right now so I could see the floor, etc before giving him the money and he said he'd call me back. Well he didn't, and when I called him about it and told him I was on the way with the money he said he had already sold it! I'm sorry but I really want to see the floor before I buy something I'm going to live in. My dad said it was a great deal even if I had to replace a little flooring. Oh well, I guess it wasn't for me.
Frankly, I'm glad he sold it. That place could have been a money pit. I've once heard not to buy a camper or RV for under $15,000 or more than 10 years old, because you're just wasting your money.

[ToomuchStuff]

There were several things posted in this thread, that didn't make sense to me. (for example, how parking a camper on an undeveloped property, that you don't own, isn't trespassing and how it makes it "developed"; how renting is a waste of money, because your paying for someone else to maintain the place, instead of having the needed savings to hire want you can't do, or don't want to for yourself, etc).

But two things did stick out to me that made me wonder:
Your dad planted "many valuable trees" and "need to sell" are two that come to mind.
"old basement" is another.

What is the basement under? Does it have plumbing/electricity already? What is the value of the tree's and are they ready for selling/harvesting?

[ButterflyBreath]

Wow. I forgot I had posted this and was looking back through. Started to read this and was like... "hey, that sounds like my situation" lol.

Anyways, a little update... I now have $4,000... yipee. Still not much, but improving. I have not bought anything, but keep thinking about it. Man, I just need a place to live that I can call my own. I need something low risk that is already liveable but maybe needs a few simple repairs that I can do while living in it.

Not sure if this is normal or maybe an indication that I'm not ready to buy, but what I want swings wildly from one day to the next. One day I still want to "live free" in a camper or something I can buy outright with my measly $4000, and the next day I'm ready to buy a duplex for $100,000 and try to make some income with the side I don't live in. But it's true, I really don't have enough saved up for the issues that come AFTER buying. What I've found is that it's possible to buy with the amount I have if I am able to get a 100% financed USDA Rural Development home loan, or if the seller will pay closing costs. So there's ways to do it, but no, probably not smart since I have no cushion.

Honestly I feel our country is heading into a rough period (and maybe disolving? breaking up? collapsing, etc) and am wondering if it really makes sense to get into a home loan right now and spend all that money on a home. I'm thinking it might be better to put my money more into land, and have an acre or so and live in a small decent mobile home, maybe 600-800 sq ft. That's all I need. Mobile homes, although I've heard don't hold value like a regular house does, seem less risky repair-wise. I suppose you can still have costly sewer issues like one person posted, but...what else would be a big fix???!!!

There's some property for sale close to me that is 4.5 acres with utilities already on land $25,000. That sounds like a good deal. The problem is that it's harder to get a loan and need more downpayment since there's not already a dwelling on the property. Maybe I can borrow from a rich relative I have for the downpayment. Then on top of that I'd have to buy the mobile home, or SOMETHING simple to live in.

When I was in my 20s and making $8-$10/hr I thought that $18/hr was a lot of money. That's what I make now, but can't seem to figure out how to get ahead. I'm not a good planner I'm finding out : / I guess I need to start out simple, like with the mobile home idea.

Any new thoughts on the best living options for the coming economic upheaval? I still need a place to live. Tiny houses are fine, except that I've lived in small cramped places and shared living space for YEARS. I just want some space of my own. So the camper and tiny house, while fine ideas for other people, is not going to work for me right now.

[Spartana]

If you're single (or coupled) but kidless have you thought about just renting a room for awhile and saving as much as you can. My sister did this, always had great places with great roomies and was eventually able to save enough to buy a small condo with cash. I know you said you don't want to do that but it can be an easy way to get ahead and eventually have a place of your own for the rest of your life - without having such a big loan. When I got divorced and owed not only the mortgage but had to pay ex hubby off too, getting a couple of roomies for just a couple of years made a huge difference on paying off everything and saving a bit too. Didn't need to keep them very long either to get to that point of FI and be able to live alone in my own place if I wanted.

[ButterflyBreath]

Of the 27 places I've lived as an adult, all but 3 have been roommate situations where I shared expenses. Clearly I have just not planned well, because all this time I could have been saving???? I'm not being sarcastic, but more wondering how I've got to where I am. What thinking has lead me here, because that's the advice I give to other people when they can't afford a place on their own. I can afford to find an apartment to live on my own, but I'm just wondering if THAT is the best decision. Right now I need my own place (whether rented or bought) and my own space. I just got out of a very crazy situation with 4 other roommates and am craving time to myself for awhile. It was my own fault for staying as long as I did because I wasn't in a lease, just didn't want to move AGAIN. I got burnt out on roommates though : (

[new2oregon]

ButterflyBreath, I also look for cheaper options . Sometimes you can buy an older mobil home for cheap but the Banks wont lend money on them you have to pay cash or find a seller that will take payments. Buying a house is not always a good investment, I know more people that owe more than their house is worth. Sometimes the taxes are more than an apartment.

One thing that might help if you could find a live in situation with someone that needs some help you could save up some more money.
It would be nice to find like minded people that wanted to work together to live cheap, but in this day and age that is hard to find .

[Spartana]

Of the 27 places I've lived as an adult, all but 3 have been roommate situations where I shared expenses. Clearly I have just not planned well, because all this time I could have been saving???? I'm not being sarcastic, but more wondering how I've got to where I am. What thinking has lead me here, because that's the advice I give to other people when they can't afford a place on their own. I can afford to find an apartment to live on my own, but I'm just wondering if THAT is the best decision. Right now I need my own place (whether rented or bought) and my own space. I just got out of a very crazy situation with 4 other roommates and am craving time to myself for awhile. It was my own fault for staying as long as I did because I wasn't in a lease, just didn't want to move AGAIN. I got burnt out on roommates though : (I can definitely understand why you'd want your own place!! That's a lot of moves and living with different people. Not really sure what would be the best way since you said you want a larger place rather than even a small house. But I think you may want to re-think that even if it's just a temporary rental. Maybe a rented studio apt. Small but at least you'd have your privacy and it probably wouldn't cost much more than a roommate situation. Or you can try maybe renting a mobile home or trailer on some land to see how you'd like that before taking the plunge and getting into debt. If you've never lived out in the country or in a remote area on several acres alone and far from things, it might not be as idyllic as you believe. Plus it will give you a better idea of what the other costs associated with a mobile home or trailer would be - extra utilities, taxes, insurance, maintenance and repair, etc... Stuff you'd have to pay for yourself if you owned rather than rented. Then if you are still interested in buying a place you'll be more aware of all the costs besides just for the land and the mobile. And if you are on a well or septic, repairing or replacing either of them (or just bringing them up to code) can cost in the tens of thousands of dollars. Friend who replaced their old septic on a mobile on some land they owned had to shell out close to $35,000 just for that.

Otherwise maybe looking at a house or pet sitting gig for people who are travelling long term or living away from their home. You'd get a free house all to yourself and could save more money during that time. Or you'll just have to take out a loan and hope for the best. Not that many other options out their if you want your own larger place. I know you don't want to hear this but if it was me, I'd bank the $4,000 for the future and try to live as cheaply and frugally as possible in order to save more. That would mean a roommate thing for me, but maybe with someone who owns a larger house and there was only me and that person living there and not a bunch of roomies.

[Spartana]

Another thought is a condo or mobile home in a park rather than you're own land. Either would probably less expensive to buy or rent but you would have monthly condo fees which can be high. Also if you did buy a place, you might want to consider getting at least a 2 bedroom place so that if your financial situation changes (as mine did when I got divorced) you can always get a room mate (or even rent the whole place out for awhile) to help out until you are back on your feet. Gives you a lot more control of your housing situation if you are the landlord instead of the tenant.

[ToomuchStuff]

Clearly I have just not planned well, because all this time I could have been saving???? I'm not being sarcastic, but more wondering how I've got to where I am. (


Keep a notepad with you at ALL times and start tracking exactly where you spend EVERYTHING.
Once you start tracking all your expenses, things become clearer.

[ButterflyBreath]

I'm totally going to look into this. It's not far from where I live and I have relatives near it too:

http://www.zillow.com/homedetails/23-Earl-Perritts-Path-Altamont-TN-37301/41361867_zpid/

i guess it would be the equivalent of living in a tiny house but slightly bigger. And maybe down the road as I save up I can build onto it to make it larger!

if it's livable it should qualify for USDA rural dev loan. Will look into it this week.

[new2oregon]

Here is a link to the Tiny House Hotel in Portland Oregon. People rent these to see what it would be like to live in one. This guy lives in an RV full time and goes to school.
https://www.youtube.com/watch?v=J02JvaXbGH0

Butterflybreath I checked out the link you posted. My brother had bought an old amish farmhouse in upstate New York and it needed a lot of work but he was able to fix it up himself.

[rodeosweetheart]

Butterfly, it is beautiful, and i like that it is on 3.5 acres!

[awakenedsoul]

That's great! You can't beat the property taxes: $222.00 a year! My little house looks like that from the front. Over time I have made improvements: replaced the kitchen floor, painted the interior and exterior, put in new tile in the shower, replaced the heater and water heater, etc...I do something each year. Landscaping it with a front cottage garden and backyard orchard has made a big difference, too. I think yours would be a great investment. Hope it all works out for you. What a price...

[ButterflyBreath]

Yes rodeo, right now I have more confidence in putting my money into land than a house so this property seems like a great deal because I get both at a good price...A place to live and land. However I still don't know what all it needs done to make it livable. Will find out this week. I has been on the market for awhile so there must be some hangup. Although it could be just that it's so far out in the country. The good thing about my line of work is that where there are people, there's a need for home health. So hopefully I can get a job in that area. It's on top of a mountain and lived on a mountain recently and found it incredibly expensive to drive up and down it all the time for work.

[ButterflyBreath]

Awakened soul your little place sounds great!

[awakenedsoul]

Thanks, ButterflyBreath. It's good that you're looking at all of those expenses. The one thing I struggled with when I first bought my house was paying property taxes and paying for home repairs. I was used to budgeting for everything else, but when something broke, I was broke! I think it's great that you're looking at places. That's what I did. I rented this house for a year before buying it. The owner told me that he's never sell it. I started looking at other small houses in the neighborhood. He heard that I was looking, and offered to sell me this one. I didn't have the down payment, but my parents saw how much I'd fixed it up, looked at the piece of land, and said, "This would be a great investment." They were right. It's now paid off, and has almost tripled in value. There are a lot of new homes being built in this area. Everyone thinks a developer will come in and knock down the old houses and build new ones. (They could fit two on my lot.) If that happens, I could probably cash out at $500,000. on a house I bought for $89,500. If not, I'll keep it for the rest of my life. It's ideal for retirement. That's another thing to consider with your house, would you want to keep it forever? Buy and hold...I think it's a great strategy. Let us know what happens!

[ButterflyBreath]

So this is interesting. Just as I was about to go look at the property I mentioned above, I looked and saw that it had been marked as sold. I looked at the date though, and it was retroactive, and said it had been sold in march of 2012, which I remembered is the date it listed as the last time it sold. So I think it has been taken off the market for now. The listing realtor wouldn't call me back.

Meanwhile, I visited relatives in the area, and they gifted me land to build on! This is great news but poses a few problems.

#1 there are some restrictions on the land, which is why I had not considered asking my dad for a chunk of his (it's family land and all my family and aunts and uncles own pieces). The main problem is that houses have to be at least 1200 sq ft. Hey great, a big house! Well to me that is a good size house anyways. I wouldn't mind that except that it will cost who knows how much over $100,000 to build when it's all said and done. No mobile homes allowed and can only live in a camper a year while a house is being built. I have looked at log cabin kits, but the price with construction (or assembly?) is over budget. A cob house probably wouldn't cut it, and I still would have to pay someone else to at least direct it.

#2 I would have to change home health agencies and find work in a much less populated (rural) area. I'm guessing that means less cases. That's a gamble. Not only that but I don't have enough saved up as buffer money/emergency money, as we have discussed. The good thing is that a new house means less repairs...at least for awhile.

#3 I have relied on roommates before to help share expenses, but the land is very rural on a mountain. Would be hard to find renters. If they got a local job it would most likely be a minimum wage job at best IF they could find a job. It just doesn't seem realistic to depend on having a renter.

Danggit. Surely there is a way. The good thing is that they are going to deed it to me regardless of whether I build on it or not, as I told them I would have to get back to them about my final answer and they are already in the process of handing it over. It's such an awesome and unforeseen opportunity!!!

[mschrisgo2]

Does it have to be a single family house? Could you build a duplex, 600 sq ft each side, live in one rent one?

[ButterflyBreath]

Good question

[new2oregon]

No mobile homes, Would a modular home be considered a mobile home? You might be able to get a FHA loan as this is rural.

You know you will have land so now you can look at all your options. Anything you could do from home to make extra money?

You might have to save up some more money but if you want it bad enough you should be able to make it happen. Good luck !

[iris lilies]

...I told them I would have to get back to them about my final answer and they are already in the process of handing it over. It's such an awesome and unforeseen opportunity!!!

Just keep in mind that once you become the owner of a property you are responsible for upkeep and taxes.

When I was in my 20's my mother was all heated up to gift me some land out in nowheresville. My parents had a little summer cottage they enjoyed in that same place. I had no interest in being a landowner in nowheresville and looking back, that was entirely the right decision.

[awakenedsoul]

That's exciting. Too bad you can't put a tiny house there. My neighbor boards horses on her land. It's nice income for her. Do your relatives have any ideas as far as building an affordable home? The log cabin sounds cool. I've seen those...they're really nice.

[Spartana]

Just keep in mind that once you become the owner of a property you are responsible for upkeep and taxes.

When I was in my 20's my mother was all heated up to gift me some land out in nowheresville. My parents had a little summer cottage they enjoyed in that same place. I had no interest in being a landowner in nowheresville and looking back, that was entirely the right decision.This is true - lots of little expenses can crop up even on unimproved land. Then you also have to deal with the squatter issue or kids hanging out there. And building codes often change. What is acceptable to build on land today, might not be so in 5 or 10 years when you want to build or sell as a buildable lot. This happened to my Dad when he and his wife bought some land in Oregon. The lot just sat there a long time as he was planning to put a mobile home on it once they retired and live there. However, before he could do that, the laws changed and he was required to build something on it asap - a stick built home of a certain square footage as mobiles were no longer allowed (only the ones that were already on the lots could remain). So he had to sell the land.

Anyways, sorry you missed out on the very cute place Butterfly Breath. But in the end it might be a good thing as you said the commute down the mountain for work would be tough as would finding jobs in the area. As for the land gifted to you, that does sound great but you needs to look into it further to make sure it isn't going to be a financial drain on you rather than an improvement.