
Chelsea asked:
Here’s the scenerio: Right now I rent with a small dog. The city I live in has no rent control and I just received a $500 rental increase. This makes my rent more than 60% of my monthly salary. I have a good job, it pays well and I am in the 2nd tax bracket (Canadian). Although I make good money, I cant buy a condo of any kind as they are well over $250 000 to start.
If I find another rental, I am subject to more rental increases, money down the drain and its difficult to find a place that accepts dogs. (my dog comes with me no matter what)
If I buy a mobile home that is attached to a site in a park, my mortgage and land rental combined would equal roughly the same as getting a new rental apartment. I am paying a mortgage, therefore the home is mine. I will never get a massive rental increase and my dog can live with me.
The downsides are: I can easily get a roomy with a rental but not a mobile. Mobiles parks are sketchy, and expensive to heat and what about resale?
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