Pay $2.5 Million for a Mobile Home, Avoid Real Estate Property Taxes

When my husband teases about getting a mobile home, I threaten divorce. But he may not be so crazy: when you own a mobile home, you own only the home and not the land under it so guess what, no real estate property taxes! Still, you have to rent the land, because the owner has to pony up the taxes, but you can pick up and leave when you think the rent, i.e. property taxes, are too high.

It’s kind of like living like a gipsy.

What got me thinking about this was a story on AOL about this $2.5 million (yes, I said million) mobile home in Malibu, Calif., that sure makes you think mobile home ownership may not be so bad after all. In fact, I think it kind of looks like a Case Study home.
Mind you, that’s $2.5 for the mobile home alone, not the land. The lot is available for rent for about $2000 per month.

We are talking 2300 square feet, 2-bedrooms, 2-baths,¬† perched on one of the best lots in Paradise Cove, a mobile home park atop a bluff overlooking the Pacific Ocean. Talk about exhilarating, there’s a full view of Santa Monica Bay.

Listing agent David Carter of Pritchett-Rapf & Associates told AOL Real Estate he’s sold four homes over two million — mobile — so no big deal.

Carter also told AOL the area, Paradise Cove, is an eclectic melting pot of residents, including “bohemians and artists looking for a relatively affordable way to enjoy priceless ocean views”, and of course access to Malibu’s pristine private beachfront. I mean, hey, it’s California. Of course, you could pony up for a home without an ocean view for between $300,000 and $600,000, which wouldn’t be bad for a second home. The problem is, you’d have to walk down to the beach to get your views.. or buy great paintings.

Still, great neighbors for building equity: the more traditional home listings further down the beach are asking $45 million and $55 million.