I’m 43, divorced, one child who’s about to turn 17. Divorced a few years ago and left a $300k home, I left with the clothes on my back and some stocks/investments I own.
I’ve really focused on myself since my divorce. I struggle with PTSD so I minimize my triggers like stress, clutter, drama and chaos. I take a few medications that aren’t cheap and I have embraced meditation and minimalism.
I live in a tourist town in the mountains. I work in IT and I’m always working on continuing education. I do worry about having to find another job in my area, it’s mostly restaurants and shopping here . I live with my GF who works part-time and is doing the same, taking classes at a local community college.
In my search for a new home, I’ve looked at everything from $150k to $250k. One day we stumbled into an RV park with a few singlewide’s set up and was instantly drawn to the location, the neighbors, the owners of the park and the location. There was one home for sale by owner, it has a huge screened-in porch, carport, big storage building out back, a small yard even has sheetrock vs the stripped paneling mobile homes usually have. Couple that with a nice, new metal roof, vinyl siding, a golf cart and most contents inside, we agreed on $63k which I’ll just use my savings to pay.
My monthly living expenses will be less than $500 and we make close to $80k yr. I honestly don’t think I’ll lose money if I sell it in 5 years but I doubt I’ll make money either. But in 5 years I can save and invest way more than I could with a $1200/mo house payment. And I’m not worrying about paying my house payment because her part-time job would pay the bills if things ever got really bad with my mental health.
I know a house is a better investment but I’ve seen a lot of people lose on homes because of closing costs, realtor fees and the fluctuation in the market. I’ve seen people who were house poor or lost their job and then lost their home. And I’m 43 and don’t want a house payment at 73 years old, if I even make it that long. Not to mention the $120+ I’d pay in interest over that 30 years (granted I’d pay it off earlier).
We fell in love with the home, it feels right in our hearts and it fits our lifestyle. So after a lot of praying and this long post, I’m buying a mobile home. Does this make sense or am I losing my mind??