MANY people wouldn’t bat an eyelid paying $29,000 for a car — but for the same amount you can now buy a new home on the Central Coast. But of course, there are one or two catches.
Realestate.com.au is currently marketing a one-bedroom cabin-styleMANY people wouldn’t bat an eyelid paying $29,000 for a car — but for the same amount you can now buy a new home on the Central Coast. But of course, there are one or two catches.
Realestate.com.au is currently marketing a one-bedroom cabin-style relocatable home at 23/1A Cutler Dr, Wyong, for the bargain basement price tag.
However, prospective buyers will need to do their homework first.
23/1A Cutler Dr is just 3.5m wide and 7.5m long. Source: realestate.com.auSource:Supplied
While the pros to owning this style of home include affordable rent, no stamp duty, no council or water rates and secure gated living, there are a few catches — including the fact that it is almost impossible to buy a mobile home if you are under 50.
“It has become an increasingly popular lifestyle because of its affordability, but it mostly targets the over 50’s market,” sales agent Jeff Carryer from homeparks .com.au said.
This mobile home at 99/207-209 Wallarah Rd, Kanwal, was recently sold by Sorensen Charmhaven for $90,000.Source:Supplied
“I have heard of some parks a bit further north taking a few younger people, but it’s rare.
“The banks also make it hard for young people to get a loan on these types of properties, because they can’t take security on a house and land package. You also don’t own the land, and there is a rent to pay to the parks, which can be varied depending on the area.”
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The fact that you don’t own the land may also be problematic, with the potential for park owners to boot off their tenants.
However, agent Michael Wilson from Ray White Green Point, said he hadn’t heard of it happening on the Central Coast.
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“I guess it could happen, but there would be a fair amount of council rigmarole,” Mr Wilson said.
Despite the pitfalls, Mr Carryer said there were some great options. “You need to do your homework. Talk to residents — there are some fantastic parks. You just need to look closely at the more rundown ones.”
Originally published as Pros and cons of buying a mobile home
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