The stigma behind trailer parks is often unwarrented and many parks provide an inexpensive entry into home ownership.
The stigma formed by trailer parks is becoming more and more unwarranted. Shows such as the Trailer Park Boys give an idea of what most of the population consider the trailer park lifestyle. However many of these parks are becoming viable tourist areas as well as an affordable means of securing a long-term residence.
The primary concern with purchasing a home in a trailer park is the difficulty in financing the sale and the regular fees for the land lease. Financing these purchases will likely require that you think outside of the conventional mortgage arena. There are alternate lenders that will finance this type of sale.
As for the land less payment it is similar to a condominium fee. You pay a monthly fee to rent the land that your home sits on. In exchange the park management accepts certain considerations. Often this includes maintenance of roadways, thoroughfares and grounds throughout the community and securing the safety of the community. Ultimately you are paying a fee similar to that of a conventional condo, but in this instance the home you live in can be moved at a future date if necessary.
In recreational areas this often means that although you are not always at your residence you are assured that your home is safe. The community will assist in ensuring that its residences are secure.
It is true however that you do need to be wary of some parks. There are many trailer communities that are unsavoury and lend themselves to less than desirable clientele. It would be a good practice to view your purchase more than once.
If possible try viewing it at variable times to ensure that the community is what it seems.
If you have a trailer community in mind, drive through it and monitor the neighbourhood to ensure that you will be able to tolerate the neighbours.
If possible have the park management supply you with a list of upcoming improvements and services that your monthly fees provide for. All of these items should be part of any real estate purchase but are of the utmost importance with a trailer park purchase.
As a means to get a recreational property or as an inexpensive first home trailer park living is definitely a viable option to consider. There are many communities that support various lifestyles, and cater to differing economic backgrounds.
