Mobile Home???
Manufactured Homes February 17th, 2010My hubby and i are looking at a mobile home 5bed 3bath 2,000sq. ft. 1acre corner lot but ou familys ae skepticle about us buying it they think it is a bad puchase but we just love it. And we have 3 kids plus is daughter from a previous marriage. What should i do o tell them o anyhting plz help me.
ok well we want a mobile home for our family but my hubbys parents ae co-signing and think it isnt a good idea and im afaid if i dont convince them then they will back out what do i do
Its a 2001 model and it is on the land and the land is ncluded for 79,900 and im getting 15,000 fom the indians fo my down payment.
February 17th, 2010 at 8:17 pm
Hi Panda,
I usually recommend that people be careful about buying a Mobile home, not because it’s a mobile home, but because the space rents and/or sometimes the hoa or park dues can be very expensive in the long run. This can affect you’re resale value. And you have little or no control over Mobile home site rent increases.
I have seen some awesome mobile homes. (Even some on the cliffs with spectacular ocean views above Malibu)
If as you say that you are purchasing the lot or site with your home, then maybe your situation won’t be as compromised by space rent. In that case it may even be a very good investment. You will also get a tax deduction on the interest you pay on the purchase loan. Always a good reason to buy rather then to rent.
Check everything out and then make sure you’ve calculated all of the costs.
I really wish you all the luck and great success.
GB u always.
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pls pic mine 4 bst answr
thin-Q
u r sweet if u do.
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February 17th, 2010 at 8:17 pm
the way i would look at it is do they have to live there??? anuff said if you are paying and like it buy it . there is really no ? to it . may be they do not like trailors but a house is still a house .
February 17th, 2010 at 8:17 pm
Unless they are contributing to the downpayment or contributing some other financial assistance, tell them to mind their own business. I assume you and your husband are an adults, so why are you feeling pressured to answer to anyone about this? Don’t you have a minds of your own? You will be the ones living there not the others in your families.
February 17th, 2010 at 8:17 pm
You do not say where you are or how new the home is.. If it is on it’s own land it is considered to be "Real property" just like an on site built house.. I live in a (they are now called manufactured home) that was built in 2004. Many improvements have been made in the construction quality in the last few years. Older homes are known to have some problems.. Polybutal water lines were a problem from the late 80s to late 90s. These homes are also like automobiles, some builders are higher quality than others.. Be sure to check out the builders quality record before you buy.
February 17th, 2010 at 8:17 pm
Mobile homes DECREASE in value and all of them eventually need to be replaced.
Only the land increases in value.
They are bad investments, no bones about it. Difficult to finance, difficult to insure.
February 17th, 2010 at 8:17 pm
I agree with Mary B. I looked into them for a new home I was building and it didn’t make since. I was able to get a modular for not much more money and no insurance or finance issues.
If you are buying one that is already placed you should be able to buy it for much less than a comparable stick built home. It should have deprecated in value enough to make it a better price. Another thing you need to check is the foundation. Is it placed on a permanent foundation or blocks. If you plan on living their for a while and want more home for the money go for it. But you have to realize that refing or getting an equity loan will be more difficult as well as resale value probably won’t keep up with tradtional homes.
Before you commit check into insurance and finance as compared to a traditional home.