Retire Early Lifestyle
Retirement; like your parents, but way cooler

In 1991 Billy and Akaisha Kaderli retired at the age of 38. Now, into their 4th decade of this financially independent lifestyle, they invite you to take advantage of their wisdom and experience.

Q and A with a Reader

Modular Homes

Billy and Akaisha Kaderli

Hi Akaisha –

Was reading about your modular home - I am wondering which company you bought with or which community?

I'm looking at the options and am overwhelmed by the sheer number of choices.

Donna

One home of many styles available

Hi Donna,

I understand how confusing it can be to choose from all the options.

To simplify the issue, I'd like to ask you a few questions.

Are you looking to move to a different state than where you now live?

Are there active adult communities in your area? - If so, then you could take a look inside the community and consider purchasing a used unit.

If you are desiring to move to another state, then actually, you would need to decide what sort of weather you would like (4 seasons, tropical, warm, dry, spring-like) and whether or not you would prefer certain amenities like near or in a city? Access to theater events, pro-ball team stadiums, universities (to take courses or volunteer to teach) hiking, biking, nature trails, excellent grocery stores or boutique grocery stores, a variety of restaurants, good shopping, etc. Do you want a place that is pet friendly?

You must also decide if you want to purchase the land where the home is resting on, or if you would simply like to lease it. Owning the land will bring you higher costs in property taxes and insurance. If you lease the land, then the unit could qualify for a mobile unit, and the licensing, taxes and insurance are thousands of dollars less per year.

List what is important to you, then that makes the next steps easier.

Once you decide what state you might live in, then you can go to the communities in that state and take a look at used homes. This is very important for several reasons.

With a new unit, most likely, you will need to furnish it completely. Although sometimes there are specials run through the community office which will include major appliances and perhaps a year or two of "free rent". As you might consider, equipping a place from scratch is expensive.

If you purchase used, these places come already furnished, down to cooking utensils, towels, sheets, cleaning supplies, dishes, and maintenance things like hammers, lightbulbs, screw drivers, furnace filters and so on. Buying used - regardless if the colors fit your scheme or that you might not LOVE the curtains -- will save you money and buy you time to replace these items on your own schedule. 

We would also recommend purchasing through the previous owner and bypassing the realtor and office who will charge you a commission -- adding to your costs.

If you decide to buy used, then consider purchasing at the time when the annual rent is due. Many people have their units up for sale, and rather than pay the annual rent for another year, they will sell it at a better price so as not to lay out the thousands of dollars of Lifestyle Fees for that year.

You might consider thinking about what's essential in a home (do you cook? want a big kitchen? would like 2 bedrooms instead of one? Do you want natural light? Do you prefer to be near the clubhouse or pool? or do you enjoy being tucked away and having more privacy? Does the unit come with a carport or parking spot?)

These are the kinds of questions you must ask yourself first,... and then find a location, then a unit in that location.

Most of these modular homes are "gently used" so even if you purchase one that is 10 years old, chances are that the air conditioner, refrigerator, washer and dryer and roof have not been abused.

I would recommend reading some of these articles below that we have written on this topic so you can get a fuller view of the situation.

If you have further questions, Donna, feel free to write.

Wishing you the best!

Akaisha

Worry-Free Housing

Retire Early Lifestyle appeals to a different kind of person – the person who prizes their independence, values their time, and who doesn’t want to mindlessly follow the crowd.

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