MANUFACTURED HOME OR REAL HOUSE ? OPINIONS PLEASE....

[skip68]

My brother showed us a place about a mile away from him that was foreclosed on last year.  My wife and kids love it and I think it's not bad. It is a manufactured home and It was built in 2002, 3bdrm, 2full bths, 1850 sqr ft, sitting on 7.25 acres, 40x30 barn/garage.    It has a $4,000. lien on it with $103k owed on the first note.  I was told it would appraise in the $140s so there is instant equity which is good.  It would be great for a few horses and for the cars and kids.  This place is nothing special but my wife loves it and wants it NOW.     I've got some pictures of it but would have to send them to someone to post for us.   Anyway, what do you guy's think?   Thank's        Chuck..............

[Old Moparz]

I've seen both good & bad manufactured homes, but in general there's nothing wrong with them. I do have to ask though, what do you mean by "Manufactured Home" in this case? That term can be misleading because I have seen two types of homes called manufactured. The first, is one that is basically a trailer home that is designed to stay pretty much in one location, not like a camping trailer. The other, which I think you might be referring to, is a "Modular Home" that is identical to a typical "Stick Built" wood frame structure, but built in a factory & shipped in sections to be assembled on the foundation.

My next door neighbor has a cape cod style modular & it's fine. It's almost 20 years old & other than regular maintenance & upkeep, there hasn't been any issues with it. My wife's cousin used to work for a modular company, he would do some of the repair & detail work after they were installed & finished. Sometimes he would have to do repairs to sheetrock that was damaged during the shipping & during the installation, but usually nothing more severe than some cracks. If you can find out the company that made the one you are looking at, you can then research their reputation just like any other product. Maybe even find other units nearby & see how the current owner feels about their home.

[mikepmcs]

Chuck
Send them to me at rmdracing@adelphia.net.

I'll resize and post for you.

By the way is it panelized or modular? there is a difference. oops sorry Bob didn't mean to step on you.  Man i'm slow with reponses today.

v/r
mike

[skip68]

It's a modular.   As for the pictures, I'm going to get someone smarter than me for that.(wife)    Thank's Mr. Mike....Chuck.

[mikepmcs]

Here's Chucks house pics.

[mikepmcs]

3 more.

[bull]

It wouldn't bother me in the least, especially sitting on 7 acres. And that price is dirt cheap where I come from. The only bad thing about manufactured homes compared to site-built homes is resale value. But that works in the favor of a buyer (you) and is offset somewhat by the fact that it's sitting on some land. In other words, the place would be worth more if there was a real house on it. So, live in the mobile home until it wears out, is paid off and the kids are grown and then build a real house right next to it.

[skip68]

Ya I know what you mean bull about property values.  We just left California and this place would be around $450k to $500k out there or maybe more.  I'm not complaining one bit about the price.    We have talked about building a nice house and keeping this one as a rental or guest house, You know because I'm made of money.    Lets not forget about the horse arena, fencing, finish the barn with 4 stalls and heat, new carpet, paint, a little here a little there ect.     Man I just want a place to park my car.    I better stop now because my wife will see this. (Hi Lisa) go get on your Camaro site.       Chuck............


Then stop talking about me!!!!! Hehehe!
P.S. By the way....Bull and Mike, you guys crack me up! It's nice to see others with  sarcastic humor like Chuck & I !!!! Mrs. Skip68

[bull]

I'd tell the wife the first thing you need is a 40X40 shop so you have a place to work on all her stuff and the **cough** Charger, excuse me.

[Silver R/T]

manuf homes dont appreciate value very quickly

[69charger2002]

no but the land does. guarantee you in 10 years no matter where you are that 7 acres alone with the shop wil lbe worth your $107k
trav

[Charger_Fan]

Holy crap! That's an awesome price for a house on 7 acres! Damn, I need to move to Tennessee!
Getting a job there would be another story, though.

The only downer to a modular home I've run across was on one a friend was trying to buy. The lender didn't want to lend the full worth on a modular home, they would only lend it's full worth on a real home...so he went shopping for another home.
That house looks just fine from the pics & that land looks SWEET!  With all that elbow room, I'd have a 40x80 pole barn up by summertime!