As rent prices continue to go up across the nation, many people are looking at alternative ways to live.
It has become quite apparent that both rent costs and the costs to purchase a single-family home are not going to stop rising anytime soon.
With the mortgage rates still low and people finding ways to work at home and make more money, the real estate market is strong.
This makes it quite difficult for those who are on a budget to find an excellent alternative for living.
More and more people are looking at trailer parks and wondering if this could be the best way to find an affordable and enjoyable place to live.
If you have considered moving to a trailer park, here are the costs that you will need to consider and some tips and tricks to decide if this is the right move for you.
How Much Does It Cost To Live In A Trailer Park?
The cost of living in a trailer park will range from as low as $200 per month to as high as $800 per month or more.
Like real estate, the cost of living in a trailer park will depend on the location.
For instance, if you want to rent a space at a trailer park in Indiana, you can find some options at $200 per month.
In California, a spot may be closer to $800 a month or more.
In addition, it’s important to consider if trailer park living is for you.
Chances are you will be dealing with neighbors who are a bit close to you.
Although you will have some outdoor space right around the trailer, it will likely be limited.
There are sometimes issues with dirt being all around the trailer, and it is more of an outdoorsy type of life.
If you are someone who wants to stay inside and watch television, you may get a bit claustrophobic in your trailer.
Be honest with yourself as to whether or not you will be able to handle life like this.
If you think that it is something that would work for you, there are some great options all across the country to consider.
If you are thoughtful about the entire process, you can find a very cheap way to live.
For the most part, living in a trailer park will be less expensive than buying a home or renting one.
Factors That Affect Trailer Park Living Cost (Breakdown)
Luckily, living in a trailer park is an overall affordable way to live.
When you look at the overall costs of living and all that is involved, you will end up paying much less at a trailer park than you would if you were to buy a single-family home on a residential lot.
Here are the cost factors that you must consider when purchasing a trailer and looking for a spot at a park.
The first step in this process is to purchase a trailer or a mobile home.
If this is something that you have already done, you will be quite lucky.
The trailers and mobile homes come in a variety of sizes and styles.
You can purchase something new with lots of bells and whistles and pay well over $100,000.
For others, purchasing a trailer can cost closer to $10,000 if you are willing to get something smaller.
There is a huge market for used trailers that can help you save considerable amounts of money.
In addition, it is also possible to rent a trailer at a trailer park if you don’t have your own.
If you are serious about living in a trailer and plan to stay there for quite some time, make sure that you get something you are comfortable in.
Some trailers look like they would be great to live in for a few weeks, but if you are serious about this process, you need to choose something that will last for years.
Take a look at the quality and the build of the trailer as well.
Is this something that will have some resale value for you when you try to sell it again?
Ensuring that you have this type of value from your setup is essential.
If you are able to make money on the purchase, you will also have decreased your cost of living over the years.
In addition, you must pay close attention to whether or not you want a trailer or a mobile home.
Some trailers are easy to move while others are meant to stay in place.
However, most of the time, trailers and mobile homes can be moved when needed.
This part of your trailer park living decision can be quite flexible.
You will notice there are hundreds and thousands of choices on the market.
For those who are struggling to find a home or a rental in a great location, the trailer shopping process can be quite refreshing.
Learning that there are still options out there for you can certainly help to relieve stress and anxiety about this type of living situation.
Keep in mind that your trailer or mobile home purchase will likely bring you a return on your investment, so be careful about the one that you choose and its resale value.
Rental Of Space
Once you have your trailer or mobile home, you will need a spot to keep it.
This is where the rental fees are going to come into play.
The rental for a space at a trailer park is going to vary depending on where you live and on the size of the lot.
As you can imagine, a 20-foot trailer will fit into certain spots that a 40-foot trailer will not.
Knowing this from the start can help you ensure that you don’t purchase a trailer that is too big.
Luckily, the sizes of the trailers are varied, and you will have some knowledge of this hopefully before you purchase your trailer.
Some trailer parks also have premium lots that will increase the pricing quite a bit simply because of a view or a position that the trailer will be in.
Depending on where you are located and the specifics of the lot, you can expect to pay between $150 and $800 per month.
As you can see from these costs, living in a trailer park is considerably more affordable than paying rent.
In some cities, rent is going to cost more than $2,000 a month.
At the end of a rental agreement, there is no money or profit for the renter.
They simply end the agreement and move on.
Although there will be no money or profit for you for the lot you rent from a trailer park, if you decide to sell your mobile home or trailer, at least there will be value there.
Depending on the unit you buy, sometimes the depreciation on these models will not be all that much.
The rental of space in a trailer park sometimes includes the utilities, and other times, the utilities will be extra.
In addition, some trailer parks have a list of amenities that you can use as part of your rent.
Others will tell you that the amenities are going to cost extra and are almost treated as though they are available on a members-only basis.
If you choose a trailer park in a great location with a view of the water and a wonderful climate, expect to pay quite a bit more.
A trailer park away from any major attractions on a large open plot of land could be quite a bit less expensive.
The utilities include things like water, electricity, trash pickup, and sewage.
Whether you are living in a home, renting, or living in a trailer park, it is hard to avoid paying for utilities.
Some trailer parks are going to wrap their fees for utilities in with their monthly rent costs.
Therefore, if you pay $650 a month, that will include all of the other utilities.
For other trailer parks, there will be individual charges for the amount of water, electricity, etc. that you use at your spot.
Lastly, you may find a trailer park that charges a set fee for each lot in addition to the typical utility charges that are already in place.
The set fee may be something like $80 or $100 per month added on to your monthly rent bill.
Although the trailer park may make this seem optional, for most people, these are going to be necessary expenses.
The trailer park utilities, however, are still going to be quite a bit less than they would be in a house or apartment.
Trailers and mobile homes are typically made to be quite efficient.
In fact, some will even come with a few solar panels to help offset any of the costs of keeping the trailer cool, warm, or bright.
Utilities should be considered when looking at overall pricing.
Those parks that include them as part of the package should be considered over those that make it additional.
Since you will know your full costs of living prior to moving to the trailer park, you will have a much easier time budgeting and staying on track financially.
Sometimes there are additional fees associated with living in a trailer park.
For instance, you may need a PO box to be set up so that you can get mail.
There could also be yearly or monthly fees on your trailer or mobile home associated with registration.
The insurance policies for both trailers parks and the mobile homes within them should also be considered.
It is not always the case for a trailer park to charge additional fees, but you may end up with some.
Sometimes if you don’t have insurance on your mobile home or trailer, the cost of the rent could go up a little bit.
This typically has to do with an assumption of liability that the trailer park has to take on.
Many people choose not to insure their trailers or mobile homes.
This is something that seems like a cheaper upfront cost, but in the end, it will likely cost you quite a bit more money.
Some trailer parks will have swimming pools, water parks, fishing piers, gyms, and even restaurants.
Most of the time, these are going to be included as part of your monthly rental fee.
However, in some areas, the amenities are an extra expense and are going to be added on top of the rental fees that you pay.
Amenities are part of what makes the trailer park a great place to live.
If you don’t have access to the pool and tennis court and the fishing area, are you really going to enjoy where you are living?
There are so many trailer park options across the country that you will be able to find something that has both entertainment and the space that you need.
Amenities should not usually cost more than $100 per month, and that price is really only going to be at the parks that have a higher overall cost or value.
For the most part, if you are paying a few hundred dollars a month in rent, you will get the amenities as part of your monthly payment.
For many people, these amenities turn out to be quite a bit better than they would have gotten living in a house or even renting one.
Moving Of Trailer/Mobile Home
Depending on the type of trailer or mobile home that you buy, there could be costs associated with moving it into position and then moving it from time to time if necessary.
When you rent a house or buy a house, you know that your location is set.
In fact, in real estate, the most essential part of the process is choosing a location that appeals to you and will work long term.
If you are purchasing real estate and you don’t find a great spot, you will struggle to sell that real estate again someday.
With a trailer or mobile home, the ability to move your home from one location to another is a great benefit, although it can also be a large expense.
This type of flexibility is an excellent choice for those looking to see more of the country and maybe move their home in a few years.
However, there are some costs associated with the moving of the mobile home or trailer.
Be prepared for large expenses from a mover that has the ability to move a wide load.
In addition, if the trailer or mobile home is not in good condition, there is a chance that it can’t be moved at all.
If you are new to this process, the moving of a mobile home or trailer can be time-consuming and expensive.
This is a move that will need to be planned out just as much as a move from one single-family home to another.
Try to find a spot initially that is a good space for you that you enjoy.
Choose carefully where to put your mobile home so that you can stay there for years to come.
Settle in at this spot and start enjoying a way of life that is considerably less expensive than what you have experienced before.
Whether this is a temporary move or a permanent one, it is essential to consider the resale value of your trailer or mobile home.
Although it may make sense to go in cheap and buy a fixer-upper, make sure that you will do the work.
One of the greatest parts of living in a trailer park is the ability to one day sell your trailer and get some money back.
Keep a trailer in great shape, and you will likely have no trouble selling it when the time comes.
The market for a good-looking, affordable, well-kept trailer or mobile home is quite strong.