I came across this manufactured home for 85k. There is another for 58k, too. But anyway, I don't want a super large home because it will be just me, and I don't want a bunch of repairs and having to clean a lot either. I feel like a regular house would be pricier and would require a lot of work.
Any men here who can share information on whether electrical, plumbing, and water issues and high costs are associated with manufactured homes?
Manufactured home is a good starter home
No get a regular house
Depends
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4 bedroom, 2 bath 1,568 square feet
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Omg! I think manufactured is the way to go
Is a manufactured home a good investment? Expenses of manufactured home vs regular home?
Do you mean a manufactured home or a mobile home? The terms are not standardized and they are often used interchangeably.
What I call a manufactured home is a regular house that has been mostly built offsite. Large pieces are brought in and put together on site. They have a regular concrete foundation and are securely attached to it. They are pretty much like a regular house in every way except they were largely built off site.
A mobile home is literally build on a metal trailer frame and stays on that frame even after it's set up. Older ones were pretty flimsy. Newer ones are more strongly built but are still not nearly as solid as a regular house. A newer one can last many years or even decades, but not as long as a regular house.
Most mobile homes do not hold their value the way regular houses do. But there are exceptions. Some actually go up in value but not as fast as a regular house. Mobile homes can be a good option for housing, but I would not consider it an investment.
Most mobile homes will be in a mobile home park where you pay a monthly fee. The fee will not be as high as renting an apartment, but are still significant. You are still responsible for maintenance and repairs on both the home and the property (even though you don't own the property.
If you own the property, then you won't have any of those fees.
With a mobile home, you will still be paying for maintenance and repairs. Many of the parts are less standard than regular houses, so you might not be able to run to Lowes or Home Depot for them. That's not as true as it used to be, but there still non-standard things in a mobile home. If you pay someone else to do the work, it may be harder to find someone experienced with mobile homes.
I should point out that I worked in construction for years, doing new construction as well as remodeling and repairs. I also worked for a mobile home repair company for a short while (a couple of months). Experience working on regular houses will only partly transfer to mobile homes. A lot of things are different, so if you call a handyman, they might still be handy and can figure things out, but it might not go as smoothly.
"whether electrical, plumbing, and water issues"
You will still have all those expenses. A mobile home will be more susceptible to water damage. So be vigilant about keeping things sealed and water tight. If your sub-flooring is damaged from water, it can be a bigger deal to repair than a regular house. You need to be vigilant around any plumbing, and especially the roof. A roof with regular shingles is much preferable to the vinyl or metal roofs. A normal roofer or maintenance guy will NOT have the knowledge to repair or replace the vinyl or metal types.
I know a lot of this is negative, but a mobile home can be a good housing option for a lot of people. It's kind of a compromise between renting an apartment and buying a regular house. They are very popular in some parts of the country for retired people who are no longer raising children and don't want a full size house any more. It's also common in some places for college students to get together and jointly buy a mobile home while in college, then sell their share when they graduate.
The one you showed looks like a nice newish one. You will likely have less yard work and expenses, but you still need to do maintenance and repairs on the home itself.
The one in the picture looks like it has a large lot. A lot of mobile home parks do feel like there is less privacy. But that one has more breathing space between it and the neighbors than most.
I lived in mobile homes myself for a few years. One was out on a farm. The other was in a nice park with swimming pool, hot tub, sauna, pool room, etc. It's a personal choice as much as anything else.
It's hard to tell for sure, but it looks like a mobile home. Mobile home manufacturers like to call them manufactured homes for marketing reasons. Mobile home tends to have a cheap "trailer trash" stereotype even though most mobile homes are not like that.
If they call it a double wide, then it's a mobile home. Mobile homes are also far more common than regular houses that are built off site.
If you use a flashlight and look in those vent openings in the brick, you should be able to see the metal frame. There should also be an access opening. You can stick your head in there and get a better look.
Here you can see the metal frames they are built on and transported on. The ones in front are a double wide before they are joined. The front tongue of the trailer and the wheels are usually removed after it's set up, but the frame itself will stay. en.wikipedia.org/.../...Shippment_To_Your_Site.jpg
I'm not a money hungry person I just want to live comfortably and have the ability to have time for myself. I don't want to live at work just to pay bills.
I'll definitely keep that in mind. Right now, my focus is just living comfortably . Everything is going up price wise, I want low home owners insurance, low property taxes and to be able to be off from work for a a week or two without the worry of how my bills are getting paid.
I don't think trailers go up in value like a stick-built house. They only lose value. Also have seen some trailer parks close/sold and everyone had to move their trailers. Unless you own the land you have your trailer on it could possibly sold out from underneath you.
Some of my Family had Them. Very Lovely. However, They depreciate Though once they Leave the Lot. They get Lovelier each Year, Dear. And Less Expensive than a House one Buys or Builds. xxoo
Thank you, decisions, decisions. My concerns are repairs. Right now I live in an apartment so maintenance handles that but actually buying I'd have to figure these things out on my own.
If this is all you can afford, it is an okay investment, but mobile homes depreciate over time while site-built homes almost always increase in value. If you approach this as a short-term solution (3-4 years,) build some credit and some equity, and then transition into a traditional home, you will be okay.
Yeah, I'd kinda like to start off at the low range because I'm seeing a lot of houses that are very pricey. With me being single and living alone, I don't want a huge house. Although this manufactured home is 4 bedroom 2 baths it's not huge and cleaning is manageable. When you mention depreciation, do you mean like I would constantly have to pay for repairs and experience issues?
Wow, so if I ever want to sell to move, I won't receive much money. Ugh, yeah that's something I'd really have to think about. Do you have a home? If so , how did you choose your first home? Was it based on price , location, size?
You nd to compare how much money you wll los paying rent compared t paying for a mobile home, and how much money you might save on taxes by deducting the interest you pay on a mortgage.
My first home was my family homestead so I had none of these questions to resolve.
So far, renting has been easier. I know nothing about repairs, so it's been convenient to have maintenance around, but rent also goes up every 15 months for me.
@Avicenna can you explain? I am completely new to this. I live in an apartment and have no experience with buying. I just thought it would be cost-effective in the long run to buy versus rent because rent will continue to right where as I assume a mortgage is fixed?
@softlife808: unless you get a variable rate mortgage (not recommended under any circumstances), yes, you're right that the mortgage payment remains the same: however, insurance and property taxes will go up annually. How much is the property do you want to buy and how much can you put toward a down payment?
@softlife808. As with so much in real estate the location is key. Is the area on the up swing or down? Take the $85k, less whatever down payment you make, figure out the financing, and see if the monthly payment is less than a decent apartment.
I did a very basic calculation for you. 85,000 5,000 down, 80,000 financed for 30 years at 7%, equates to a monthly payment of $532.24/month.
Wow wow! Thank you, the area isn't bad. It's in a back wooded area where they are making new housing developments. I'm familiar with this area because im a sitter for a little girl that lives here.
At the moment, I pay 1078 monthly for a 1 bedroom apartment.
Exactly. If the property depreciates, so what. You are more than $600/month ahead with your biggest cost being fixed (your payment won't go up). When you are ready to leave you can either sell the place or lease it out. You could easily rent this place for $1,000 month. If you can be disciplined and save the difference between your current rent and your house payment, you will pretty quickly have a decent down payment for a more "permanent" home if you choose.
@softlife808 Another thing to consider is the land the home will be located. Are you buying a lot? Or looking for a manufactured home community? The latter usually has monthly lot rent.
Overall I think it is a reasonable way to go. I'm in Australia not the US so bear that in mind with my comments.
The first point is that it is better to have any house than not and while the loan might constrain you initially after 5 years or so it starts becoming cheaper. Certainly within 10 years.
Second point is that every house has an economic life. Conventionally built houses can be modified/extended but I'd think that what we call kit homes (i. e. partly/mostly built in a factory) will be more limited in that respect. For example I live in an apartment. I would like to improve my kitchen to give more room in it to move around. I can't move a bench that I want to because the drainage for the sink is fixed plus plus some other services. I think a kit home would give more freedom for later modification though than I have with an apartment.
There is a cookie cutter aspect. Generally people don't like exactly the same house on every block all the way down the street. So look around at the other houses in the location. Back to economic life. The manufacturer should be able to tell you how long the house will last but probably as housing improves It will - as all houses do - start looking a bit old fashioned and tired. The land it is on will be the lasting value. Good idea to get an idea of the land value and if it is increasing and if similar houses have increased in value over time. Eventually every house usually becomes a knock down - that might be in 50 years or 100 years so the land it is on becomes the real value.
If it were an apartment condo I would tell you to plan on holding it for 10 years as a lot of building systems need refurbishment at the 10 to 20 year mark and in an apartment tower that becomes more expensive than a free standing house as you are looking at. Overall I would be giving you more negatives for an apartment condo.
I think kit/manufactured houses would generally have built in conduits for electricity, water so it might be difficult to change that if you have the need but from the pic they could go under the house at worse case.
If you are looking at building one of them I imagine some manufacturers will be quite set in layout i. e. this model has four bedrooms and no you can't change that. Others might be more modular that allows some choice. e. g the master bedroom can be merged with another bedroom to be a larger master. That sort of flexible configuration.
Overall it seems to me you are getting a lot of bang for buck! At the end of the day you can afford what you can afford and you have to consider future economic downturns and rising interest rates in long term affordability.
The only downfall with a manufactured home is they depreciate in value , kind of like driving a new car off the lot , but as long as you maintain it and keep it in great shape you more than likely can make your money back and some of you plan on selling it , and what you do to it , I inherited a manufactured home when my Grandparents past away , it was their vacation home so it was well kept and maintained , I ended up putting some money into it but not much and ended up getting more money for it then I expected , but part of me is kicking myself in the ass for not keeping it and just moving in it , The only thing you need to be careful with is pray you don’t have any water damage , the wood they use in manufactured home is cheap so it turns to like saw dust if it gets saturated , But overall there is really nothing wrong with a manufactured home just as long as you aren’t on rented property and you have to pay a lot fee , which I had to pay when I inherited it , overall it’s a smart way to live especially the way the economy is today
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Anonymous
(18-24)
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Manufactured homes can be a good investment for some people, especially if you are looking for a smaller, more affordable home. However, there are some important factors to consider before making a decision.
First, it's important to note that manufactured homes are often less expensive than traditional site-built homes, but they may also have a shorter lifespan and may not appreciate in value as much over time. Additionally, while manufactured homes are often built to certain safety and quality standards, they may be more susceptible to damage from natural disasters like hurricanes or tornadoes.
In terms of expenses, the cost of owning a manufactured home can vary depending on a number of factors, including the age and condition of the home, the location, and the cost of utilities. While some people have reported higher costs for electrical, plumbing, and water issues in manufactured homes, others have found that these costs are comparable to those of traditional homes. It's important to thoroughly inspect any home before purchasing it, and to factor in ongoing maintenance and repair costs when budgeting for homeownership.
Overall, if you are considering purchasing a manufactured home, it's important to do your research and weigh the pros and cons carefully to determine if it's the right choice for you.
They are built to code for where ever they are sold just like any other stick built home. They have to pass inspect just like anything else. That said, modular homes which are a manufactured home that is attached to a permanent foundation tend qualify for mortgages and are more salable than a mobile home at a later date so they are a better long term investment I suppose. Modular homes can also look just like a regular home if you do your research. I know on the west coast in Florida in areas that were devastated by Hurricane Ian, there have been a number of modular homes going up as stilt houses close to the water ways. They do the same thing in Key West as well these days being that new codes require everything to be on stilts down there now. One company I know that is doing that around Florida is Affinity. I don't know what their pricing is like though.
Anything that is on a permanent foundation would require you to own the land. So I'd think they would be possible on standard residential lots, lots that are zoned for mobile homes, agricultural land, and potentially modular/mobile communities where you own your own lot rather than rent the land. That said any time you are in a community, there is often an HOA that regulates what can be built in their community. So that's something you'd have to figure out on a case by case basis.
I'm not sure of their pricing. I never looked into it. I just was on the west coast of Florida a little while ago and noticed some projects and kind of surface skim it to see who the companies were out of curiosity. In Florida most homes are concrete block/stucco. Stick built homes are typically cheaper than concrete homes here so I suppose there is some cost savings. I’d assume if there is a manufacturing line, there might be some efficiencies of scale over say a custom built home. If you’re looking to rent the land, then modular obviously isn’t something that would work for you. That said, banks lend on modular homes so they are easier for purchasing and selling when you decide to move. You asked about if it was a good investment. I know mobile home depreciate like cars. Banks don’t tend to lend on them like they do houses. Modular would be a better investment that would appreciate like a typical home. How they compare in price to a typical stick built home, I’m not sure. Like I said in Florida, most property is CBS so it's a bit outside my what I'm use to.
You'd have to investigate price on your own time and work that out based on your local market. A lot will come down to what local labor costs. Builders all over are having issues with finding labor, long permitting processes, supply chain issues, etc. So one benefit might be that modular/manufactured housing might take less time to completion in the current market. With inflation and rising interest rates that might lead to a cheaper overall cost being that builders have escalation clauses in their contracts to account for changing prices.
Buy what you can afford , but yes 30 years in property there are plenty of associated costs from these kind of products , but I'm an Aussie , so I do not know costs in the USA , its basically relocatable home..
Vastly different from a genuine established house.
They are KIT homes , so really it all comes back to the land , I dont mean to be rude or anything , as I said buy what you can afford , but resale options are important. By the way , I'm not saying the house isn't nice , it is.. Look to the area , look to the land , look who is around..
The key again is the land , who owns the land? What are the ongoing out goings? Again , there is nothing much like this in Australia , some awesome ones in Thai 30 year leases , so you absolute key is not the dwelling , ( thats called the improvement ) Its down to land ownership , if its individually titled and not a leasehold , then man -- these would sell like a ripper in Aussie , absolutely impossible at this price , unless in the absolute STICKS.
If you own the land it might be okay. If you buy the manufactured home and then have to rent the space, bad idea, as in most places you can get rent increased out of your budget and it can be difficult to sell or relocate the home.
That looks like a mobile home, usually you either buy the property you put it on or rent the land , you’ll need all the hook ups for electrical, water and sewage. You could buy a prefab home and put on a piece of land you buy, it will be cheaper than a regular home and everything is also new, they just make all the connections
I need help 🤣🤦🏽♀️. As you can see I'm extremely new to this. How can you tell the difference between a mobile and manufactured home? Is there a difference.
Yeah, a mobile home is basically a trailer that has wheels and that’s how it’s transported around. A pre-fabricated home is permanently put down on a foundation.
Well, I guess they are better than the mobile homes of the past, even though they were very long the trouble is, where do you store them? You don’t wanna live in a trailer trash park. You probably know more than me, even though you wanted me to answer this question. Can you triple your pricing in time if you sell it what’s the value of something like that plus will there be property taxes? They are better than apartment probably apartment you just throw your money away and get nothing in return. Check into these things and let me know. I am curious. Are they hurricane proof or will they get destroyed? I don’t likes short ceilings I like tall vaulted ceilings like my house.
Good starter, you shouldn't have any major issues for years. Usually we only have concrete/block built houses over here, so not 100% on that fabrication.
I'm starting to look at manufactured homes as well for when I retire and move elsewhere.
One of the big items is the quality of the manufactured home. If you go with a manufacturer that produces high quality homes then it would be like a home built from scratch.
My dad bought a manufactured modular home and had it placed on a basement foundation. It has lasted a little over 50 years so far in the Colorado Rocky Mountains.
Now, a mobile home (trailer house) will not last nearly that long but can be good to start with while a manufactured home is being built, transported to your site, and assembled. Then you can rent out the trailer house. ;)
if you are putting it on your own plot of land it is okay. Check to see what king of heating system it has, f it is one that goes in a closet forget it.
Thanks, yeah, I'm on the fence a bit. I like the price and the fact there are multiple rooms. I like houses but I'm single and live alone so I don't want a great big house. The houses are pretty pricey right now.
I dont recommend them. Just my opinion, but they have no resale value, they are constantly settling, and they fall apart easily. Usually you also have to pay for a lot rental on top of the mortgage payment. You'd be better off just renting until you can get a real home.
I prefer the kind where you just pull the home out of your pocket, put it on the ground where you want it to be, add water and, voila! You've got an instant home!!!
Really? 85k seems reasonable to me yet I am originally from California so this is cheap to me. How much should a mobile home that looks like this cost? I seen another for 57k BUT it didn't have the brick foundation like this home. I DO NOT like the ones that lack the brick foundation.
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