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Buying or Selling a Home/rent apartment or buy mobile home


Hello Jessica, thank you for your time and expertise!

I am newly retired, aged 64, have a modest retirement income, social security and some part time work. I live in the Chicago suburbs.

I presently rent an apartment for $650 a month, and would like my own place for privacy, quiet, etc.

Is it worth it to buy a mobile home? There is a park near me for ages 55 and up, very very nice, resort like, very well maintained and very nice mobile homes.

They have a few homes for sale from $20M on up. I can buy one for cash if it is around $20M. The one they have at that price is from 1979. And they have newer models also.

The lot rent is $700 which includes water, trash, snow removal.

Is it a good decision to buy one? Or, am I better off renting an apartment?

Thank you!

Hi Bob;
I assume you mean $20,000 for a mobile home.  If you consider paying cash and knowing that the only monthly payment is $700 a month as long as that is affordable for you I think that it is a better idea than renting.  Of course there are always expenses when you own a home but you also build some equity and can recover some of the costs rather than giving all of your money away on rent. I think that you should look at the history of resales and decide if this would work for you if you decide after moving in that you actually do prefer renting.  Many people forget that buying a home doesn't commit you to living there for the rest of your life.  You can always sell if you don't like it.  Sometimes you make money and sometimes you don't.  It depends on the location, the market conditions, and the length of time you have lived there.

I hope that this helps with your decision.

Jessica Bryan
Managing Broker
House to Home Realty Services

Buying or Selling a Home

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Jessica Bryan


buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.


Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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