Holiday mobile home as a basis for financing

Hello,
I am new here and have a fundamental question right away. We would like to have our own home and are currently considering sensible ways to achieve this.

At the moment, we have the option to purchase a mobile home by the Dutch sea. The idea is to buy this thing and then rent it out. For financing, this mobile home should serve as collateral or fixed capital. The property including land is supposed to cost 70k. Possibly renovations for about 25k. Equity would be 20k.

What do you think about this? Or should we better leave this idea and save more equity first? Or would it be better to buy a condominium first?

Regards
Paule

You want to finance such a thing so that the money in your wallet increases?
How does that work? I'm curious how you imagine that

Regards, Yvonne

When it is paid off, it brings money and belongs to us. Until then, it just has to be paid off.

You’d better save the installments – then you’ll get your own house faster. A mobile home, as far as I know, is not connected to the land and requires a consumer loan instead of a mortgage loan. I also doubt that the land is sold along with it, as it is usually arranged as a lease.

But just let it be an apartment in the neighborhood... what do you think, how long will you be paying until you finally break even? You’ll regret having done it during that time – with 20,000 equity, you are not able to make such investments work for you.

Best regards, Yvonne

I hardly know any banks that would consider a mobile home in the Netherlands as valuable collateral. If things go well, maybe the rental income from V+V, if it is properly declared in the tax return.

But I know bankers who own such mobile homes themselves. However, this does not count as construction financing.

Okay, thanks for your explanations. Then I'll think it over carefully again and rather save a few more euros.