Sorry if this post is long AF. My wife and I currently pay $835/month for rent at an apartment + our regular bills. The lease expired this month and we can continue month to month with them for an extra $100 per month or we can renew the lease and keep paying $835. My mother in law told me today that she owns a mobile home that is on a friends piece of property. Her friend is selling her property and told my MIL to move her trailer or it will be taken to the dump. My MIL told us we can have the trailer and she has offered to let us put the trailer on her land. So we were offered a free trailer and a free piece of land to put it on. The only reason she hasn’t moved it here herself is that the trailer needs some fairly serious renovations... the flooring in it is new and he roof/walls are solid but other than that it’s fairly rough. Should my wife and I move this mobile home to her property and invest our money into fixing it up or should we say no thank you and keep Renting? My father in law manages a business that mostly restores flooded homes (we live in Baton Rouge, LA), and he’s seen the mobile home and said it is definitely a fixer upper but can be done. He thinks it’s a good idea. My parents think it’s a bad idea. What do you guys think?
Edit for additional info: I’m currently a student and I’m applying for my universities Physical Therapy Assisting program. If I get accepted, I will not be able to work, since my class hours will be 8am-5pm mon-fri with studying after class. We will not be able to pay our bills (mainly rent) on my wife’s earnings alone, so we will have to take out loans (in addition to my tuition loans) just to pay our rent/pay for food etc.. My university will let me know in April if I’ve been accepted into the program, at which point I’ll have to start getting loans. I’m partially thinking about not going into the program this year even if I am accepted, that way I can save up 300-400 per month each month for the next year so that when I do get into the program, I have money set aside to help pay bills. My parents also think this is a very bad idea, they think I should take the loans out and get through school this year. I think this mobile home would 1) make it easier for me to save money over the next year And 2) lessen the amount we pay in bills since we wouldn’t have rent to pay each month, so when I get into the program, I’ll have money saved up AND bills would be significantly lessened.
Thoughts?
February 05, 2018 at 01:22PM
