Skip to main content

Pre-1976 manufactured home as vacation home - am I stupid?

Made an offer on a 1973 manufactured home on a permanent foundation by the beach. The trailer is cute, well-preserved and in pretty good condition, but the more I read about old trailers the more concerned I get.

I still have time to back out at inspection, on my first walkthrough I noticed a few random issues that will require fixing, and I'm sure there will be others.

The trailer is on a neighborhood street [NOT a trailer park] in a scruffy but established beach area with a mix of trailers and houses, some quite nice, some crappy. No lease, no HOA, I will own the 5000 sf lot straightaway. It is on my favorite block for walkability/quiet, and has beach access, and great water views.

I'm only paying $30 or $40k over what I estimate to be the value of the land, and 20-30% less than a small house nearby would cost. You could one day tear it down and build a great view house. I'm not going to do this soon, but in 10 years it might be realistic.

The trailer would be for personal vacations, with a goal of eventually serving as a short-term rental 30-40 days out of the year.

Will I regret going through with this? I feel like it pencils out but maybe the fact that it's an ancient trailer makes this unwise.

submitted by /u/ibickford
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1kxaozg/pre1976_manufactured_home_as_vacation_home_am_i/
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

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more