Problems with trying to sell “double-wides” in florida
Posted date : Nov 6, 2017.
Dear bird talk,
As I am a homeowner in Florida, i read with interest the article by dave hunter about his purchase in the sunshine state. As he attests, there is a large number of “bargains” to be had during these times of economic uncertainty. it’s almost like the saying, “if it seems too good to be true, it probably isn’t.” One of the major problems with trying to sell “double-wides” in florida is the monthly rental on the leased property. These can range from the $500 a month dave pays, to upwards of $1,000. in his case, that amounts to about 3/5ths of the total price of the unit each year.
I personally know of owners who would actually give their unit away. since the owner must pay this amount as long as his unit is on the property, he is stuck with that yearly expense, even though he may for any number of reasons be unable to make use of it (age, illness, etc.). it doesn’t take a mathematician to see that after a few years of paying and not using, the actual value of the unit lessens dramatically. The rates can increase and some unscrupulous park owners hope that they can force people out so they can build a more profitable development. a safer investment is to purchase a unit in a park where you also own the land on which the unit sits. You then pay only association fees to the park.
Robert Leatham
ilderton, ON
Response:
Ed: This is excellent advice – heed it. There are many owners who have just abandoned their
units and park owners are very, very interested in finding someone to “pay the rent.” Like anything else, there are good parks and there are bad parks and there are also some great parks. Try to visit before making a purchase. Some people have rented for one month in several different parks to get a feel for each of them before making a decision.
