First I hate the term trailer. It has a negative tone that only poor people live there. Which is false, especially when you can end up paying more than a house on a nice piece of property. Even mobile gives that negative feel. It's a manufacture home. Just one of my biggest pet peeves.
Secondly, loans available are not like typical loans. You can't get those wonderfully low rates. It's more like a car loan and some places take advantage of manufacture home owners. We are paying 10% on ours and it sucks. By the time we are done we will have paid way more (like 3 or 4 times) than we should be. We bought the house 8 years ago thinking it would be great to have a home instead of an apartment with a baby coming and now we are stuck. For the first 2 years of our morgage we paid nothing on the principle. We ended up refinacing because of that and because when we changed home owners insurance from the bank to another place this bank threaten to forclose. Why? Because we didn't pay the stinking $33 for insurance one month. They kept calling and saying we needed to do one thing and then we would find out it was something else. It was a nightmare. Now we have 15 years left and refinacing is difficult because regular banks will not finance them. We also aren't sure if what we want to do. We would take a lose just to get out of here.
We are calling the building inspector this week and our plans are to move the house onto land and build an addition. The homes in this park are not selling because most are abandonded. They offered lot rent for $98 for 2 years a few years back and so all these people moved in and when they had to pay $300 they couldn't afford it. A lot of forclosers. People that are willing to buy homes in here are older people who are retired.
Of course other than the finaces we can't complain. We have a 3 bedroom, 2 bath home that came with all the appliances and central air. We have wonderful memories here and the house is still in good, almost new shape considering we have three children. We really want to move it onto land so we can make it the way we want to.