Skip to main content

Manufactured home on property- yes or no and why?

Title says the bottom line question.

Not a modular- axles were removed and it's tied down.

Looking for any and all advice, experience, knowledge. TIA

Details:

26 y/o, rural town in California. Relocating isn't possible as our business is here. Looking to buy first home. Looking to either make it a rental in the future, or improve & resell.

Stick-builts are a hard market. Options 350k or less all need major upgrades/repairs to be comfortable.

There is a manufactured for sale on 5 acres w/creek, permanent foundation (crawl space), with a 1b1b ADU.

Manufactured was placed in 2001 by the contractor who lived there, and has lived there since.

Well maintained, doesn't look its age. Needs some TLC. It has a gabled roof, ensuite bath, small walk in closet, added deck, and spaced well enough away from ADU.

Am I crazy to consider this?

What would reselling look like in 10 to 40 years? Would financing be possible once it's over 30 years? Would renting the MFG and ADU separately be possible? What is the realistic lifespan of a MFG?

It being essentially a 20 y/o trailer makes me nervous.

I want to make an investment, a place to live now but not be our forever home.

I read conflicting advice online, and had trouble finding answers to some of my questions, so please share your experience, advice, knowledge, etc. Genuine input needed!

Thank you 🙏

submitted by /u/Wrong-Bug5861
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/181voh0/manufactured_home_on_property_yes_or_no_and_why/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear
1 comment
Read more

Fast Rising HOA Fees on NYC Condo, No Budget Provided

My wife and I are first time homeowners and could use some advice on a situation we've been having with our management company and Board. We bought a condo in Brooklyn two years ago, and since then our HOA fees have climbed dramatically. In August of last year, our fees were increased by ~30% and just yesterday we received notice that this new figure would be increased by 16% as of June 1st. The by-laws for our building state that ten days before such a change goes into effect, the Board must provide unit owners with the itemized budget upon which the new numbers were based. This didn't happen last year, and when I asked the management company about it, they just kept vaguely insisting the Board had done due diligence. After I kept pressing, they finally sent a budget that was several years old, so obviously not the one that the new numbers were based on. When I asked the management company for contact information for the Board to get further clarification, I was told that th
Post a Comment
Read more

How to create fidelity investments current bank statement for lender during escrow

I transferred a certain amount to my bank account to complete the minimum down payment required. The bank wants a current statement of the transaction. Unfortunately, fidelity only does quarterly statements so a December statement is not available and we are due to close next week. I called fidelity and they they can only provide a letter but the bank said that won’t suffice. Any way I can find or make one of my own that has my account number/name along with all the recent month’s activities? submitted by /u/bodaciousbeans [link] [comments] source https://www.reddit.com/r/RealEstate/comments/zmnnqo/how_to_create_fidelity_investments_current_bank/
Post a Comment
Read more