Modular Home Prices

I'm really wanting to get into a place of my own but HATE living in apartments since in my eyes its just throwing away money because rent is about as much as a mortgage payment. However, I don't make much money and houses in the North West are very expensive now. It's impossible to find anything within 20 miles thats within my price range. Even condos are outrageously priced!

I've noticed Manufactured Homes for sale thats within my price range and was thinking of getting one and living in it for a few years, after which I could use the money I get from selling it as a decent down payment on a cheap condo. Granted the manufactured home will depreciate a decent amount but I'm hoping I could get at least 75% of what I paid for it pricing it low enough to be attractive to the next buyer. I'll also rent out the other 1 or 2 bedrooms to help soften the payments.

My question, is this a viable method since I'm not a rich guy? Or just a waste of time/money?

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I recently inherited a nice but not too big piece of land. I don't have much money saved but have a nice income. Does anyone know much about modular homes? I was thinking of going that way. Anyone have any and info or expierence with modular homes. Are they considered like trailers? Not crazy about that look. Let me know!! Thanks. Oh, I'm in the New Jersey area.

Technorati Tags: jersey area, modular homes, much money, trailers