One of my goals is to eventually be able to purchase a house. Many of my nursing colleagues are purchasing homes that are worth $450,000, $500,000 or even more. Sadly, my budget is about half of that or even less, which means the houses I have to choose from are not appealing. Most of them are small, old, or both.
I am just curious how other nurses manage to purchase decent houses? I've been looking through my income, and I just can't find a way to make it possible to incorporate such a house into my budget. I am salary, so there are no opportunities for overtime.
What are other nurses' experience with buying houses? How did you make it work? Did it require switching jobs? Inquiring minds want to know!
Specializes in Community Health, Med/Surg, ICU Stepdown.
Can anyone explain what people have against mobile homes? There are some cute ones in super nice areas that I could never afford otherwise but everyone advises me against it. Is it because you don't gain equity? You don't own the land it's on? Something bad about the construction/safety? I want to live in Half Moon Bay right by the Pacific Ocean in a mobile home! My partner and my family are not into it.
Can anyone explain what people have against mobile homes? There are some cute ones in super nice areas that I could never afford otherwise but everyone advises me against it. Is it because you don't gain equity? You don't own the land it's on? Something bad about the construction/safety? I want to live in Half Moon Bay right by the Pacific Ocean in a mobile home! My partner and my family are not into it.
Mobile homes are not an investment in the way that solid houses are, and will depreciate, much in the same way that a car will.
So it eventually becomes worthless. It's not something that your kids will inherit. In 30 years its worth nothing, and in the same time span a house will hold its value.
Also they often don't have good insulation, so depending what climate you are in, you could end up paying a LOT for heating or cooling.
And the location is important, if you end up paying fees for being in a park, then its basically rent, as well as the cost of buying it.
In some situations, it works.
I lived in a houseboat for years, as I was in a city that I could never afford to buy property in. I had a mortgage to buy the boat, and then the mooring fees were like a rent or park fees. The heating was challenging!
Specializes in Community Health, Med/Surg, ICU Stepdown.
1 hour ago, skylark said:
Mobile homes are not an investment in the way that solid houses are, and will depreciate, much in the same way that a car will.
So it eventually becomes worthless. It's not something that your kids will inherit. In 30 years its worth nothing, and in the same time span a house will hold its value.
Also they often don't have good insulation, so depending what climate you are in, you could end up paying a LOT for heating or cooling.
And the location is important, if you end up paying fees for being in a park, then its basically rent, as well as the cost of buying it.
In some situations, it works.
I lived in a houseboat for years, as I was in a city that I could never afford to buy property in. I had a mortgage to buy the boat, and then the mooring fees were like a rent or park fees. The heating was challenging!
Wow! Thanks for the info. And that is cool that you lived on a boat!!
Wow! Thanks for the info. And that is cool that you lived on a boat!!
They can still be "an option". For example if you are 55 or older in Florida you can find mobile home parks for those over 55 that are around ($400.00 per month in fees) and you can purchase a three bedroom manufactured/mobile type home in the 50-70K range. Usually, they will have a nice recreation room and pool. Conversely, if you were to rent where I live (central Flroida) you are in the $2200-$2500 hundred per month range to rent a three to four bedroom house or apartment. To buy you are in the 350-500K for a similar house. Thus, one might be able to get a manufactured home in the $1000.00 dollar per month range and "invest" or save the difference (1000-1500 per month) and do better than buying. Again, my SO and I are now grossing over 500K per year and we are no where near being able to buy a home in our early 50's. Granted we owe a good deal of student loan and credit card debt. However, if things haven't improved a great deal by age 55 then that option seems better than renting for over 2K per month essentially forever.
Specializes in Specializes in L/D, newborn, GYN, LTC, Dialysis.
On 3/17/2021 at 5:18 PM, hppygr8ful said:
I have nothing against camper or off-grid living but I might think twice from a professional standpoint about seeing my practitioner in what ammounts to their bedroom. Plus Whyoming is really cold in Winter when you are in a well insulated home. I woudl probably freeze in a camper.
annnnd Wyo is SUPER windy! Will said RV hold up in 80MPH winds in Winter? I don't know.
They can still be "an option". For example if you are 55 or older in Florida you can find mobile home parks for those over 55 that are around ($400.00 per month in fees) and you can purchase a three bedroom manufactured/mobile type home in the 50-70K range. Usually, they will have a nice recreation room and pool. Conversely, if you were to rent where I live (central Flroida) you are in the $2200-$2500 hundred per month range to rent a three to four bedroom house or apartment. To buy you are in the 350-500K for a similar house. Thus, one might be able to get a manufactured home in the $1000.00 dollar per month range and "invest" or save the difference (1000-1500 per month) and do better than buying. Again, my SO and I are now grossing over 500K per year and we are no where near being able to buy a home in our early 50's. Granted we owe a good deal of student loan and credit card debt. However, if things haven't improved a great deal by age 55 then that option seems better than renting for over 2K per month essentially forever.
I think mobile homes are more common in the South, but then you usually must live in mobile home communities and pay rent on the land, probably due to local zoning laws. I think part of the reason behind McMansions is that local communities demand a larger house for higher property taxes. I imagine these codes would restrict mobile homes in a lot of places.
My aunt lives in a northern rural area and has essentially a double wide mobile home (2 together) but on her own land and it was built with a basement, not usually the case when you rent. She has a nice place and even has a deck and swimming pool and fenced in yard for the dogs to run around. She has a camper, nice boat, jet skis, snowmobiles and ATVs. It is a nice life for her and her family. They go camping in the Summer at the local park. She's retired now, although still does hair part-time for her own business. She had to make a ramp for disabled clients and also partition off her salon from the rest of her house per state laws, which she did years ago.
Were you the OP talking about moving to Wyoming and starting your family practice business out of your residence? You would have to look at the state codes as they may be different depending where you live, but I think a handicap entrance is probably universal.
I think mobile homes are more common in the South, but then you usually must live in mobile home communities and pay rent on the land, probably due to local zoning laws. I think part of the reason behind McMansions is that local communities demand a larger house for higher property taxes. I imagine these codes would restrict mobile homes in a lot of places.
My aunt lives in a northern rural area and has essentially a double wide mobile home (2 together) but on her own land and it was built with a basement, not usually the case when you rent. She has a nice place and even has a deck and swimming pool and fenced in yard for the dogs to run around. She has a camper, nice boat, jet skis, snowmobiles and ATVs. It is a nice life for her and her family. They go camping in the Summer at the local park. She's retired now, although still does hair part-time for her own business. She had to make a ramp for disabled clients and also partition off her salon from the rest of her house per state laws, which she did years ago.
Were you the OP talking about moving to Wyoming and starting your family practice business out of your residence? You would have to look at the state codes as they may be different depending where you live, but I think a handicap entrance is probably universal.
We see all of our patients online and will go once per month to Washington State once the Ryan Haight Act goes back in to effect after Covid (it requires a face to face for schedule II medications). If we practice in Wyoming we would market to Wyoming, Idaho, Colorado, Montana, South Dakota and Nebraska (All IP). Any clients wanting schedule 2 mediations for things like ADHD would need to come to an office that I would rent in someplace like Cody or Laramie (depending upon where our home was located) and where we would be available at least one week out of the month
Specializes in Community Health, Med/Surg, ICU Stepdown.
Thanks for the info! This thread has gone in a lot of cool directions. I've learned about different styles of homes/dwellings, real estate in different states, cost of living, etc... pretty cool!
Still looking at the housing market. Just the other day, someone had mentioned again about owning a townhouse or even a condo versus trying to buy an entire house. While I am sure they had good intentions, I can't help but think: What could be more damaging to one's self-esteem (when it comes to home ownership) than to be a townhouse or condo owner? As I mentioned, many of my nursing colleagues live in very nice homes...so there has to be a way. Has to be something better, I just have to figure out how to get it.
What could be more damaging to one's self-esteem (when it comes to home ownership) than to be a townhouse or condo owner?
Many stellar professionals buy townhouses or condos. Usually they are very busy, lots of calls on their time via work, consulting jobs etc. I don't know why you would think this option is a down grade. But I am thinking you have children so a house with yard is preferable? BTW the work that is neccessary for keeping up a house I unrelenting....yard waste, snow removal, shrub plantings and manicuring the bushes.
Many stellar professionals buy townhouses or condos. Usually they are very busy, lots of calls on their time via work, consulting jobs etc. I don't know why you would think this option is a down grade. But I am thinking you have children so a house with yard is preferable? BTW the work that is neccessary for keeping up a house I unrelenting....yard waste, snow removal, shrub plantings and manicuring the bushes.
hppygr8ful, ASN, RN, EMT-I
4 Articles; 5,212 Posts
What about two tiny homes linked together - there's so really cool plans and prefabs.