should i buy a mobile home built in 1988?

Question

I hear that mobile homes depreciate, but I believe I can get more home for less.

Answer 1

You are right. You can get a lot of home for less, but it isn't worth near what a stick built home is. You better talk to your lender , if you are borrowing, to see if they will loan on it. Some lenders have rules about manufactured homes and their ages. Mobile homes depreciate fast and loose value in a short time. If you want to live in it or rent it out, it's a good deal. Buying it to sell later, maybe not so good.

Answer 2

2

Answer 3

If you're buying it to live in then yes you can get more home for less. Broadmore and Fleetwood are the top manufacturers and be sure you know where it was manufactured because this has a lot of importance on where you plan to live in it. It has to do with the type and how much insulation it has. For example, if it was manufactured in California and you plan to set it up in a state the has cold winters, then plan on high heating bills because the insulation would be set for warmer climates. Another thing to think about is that your taxes will be higher. Because it is a "mobile home" it can literally be moved. A way to lower the taxes is to place the moblile home on a foundation.

If you're buying it as an investment for resale then you're just wasting your money. Mobile homes have no resell value at all. You would do a little better to buy a newer "Modular home". They have wood or vinyl siding and shingled roofs and are built to be placed on foundations. This makes them more like a stick house. Better on taxes too.

Answer 4

I just bought one 2 months ago for $18,000. It is a 2000 with 2 bedrooms, 2 full baths. The master bath has a huge oval jetted tub and a separate shower as well as 2 separate vanities. There are tons of storage space and all appliances including washer and dryer were included, as well as an a complete alarm system with window, door, and motion detectors, etc. It looks new and you would never know it is a mobile home from the inside. It took me about 1 month of looking around to find the one I wanted. One of my employees bought one for $2000 and is not in that bad of shape. If you can find a park that is closing down for some reason, they are very very cheap, because they have to be moved and new pad set up. There was one such place when I was looking. It was a very upscale park and the homes worth about 50,000 and up were selling for around 6,000 to 15,000. Since you would have to move it anyway, you might want to be on the lookout for a situation like this.

Answer 5

If you want to do that you will have to check it thoroughly for every kind of fault if you are getting it really reasonable take your chances but again an '88 mobile home has very little value should you chose to sell it back, good luck.

Answer 6

Do NOT purchase a mobile home. for 1 they are not efficient, 2 you will have trouble selling it when you are ready, 3 the financing on them is very limited to what type of loans you can get. i would try my hardest to purchase a regular stick built home.

Answer 7

if it's not in bad condition, I had a 1985 model I liked a lot, I have always said I would prefer a mobile home to sharing walls with other people

Answer 8

The ones built before 2003 come with a free tornado magnet.

Answer 9

make sure it has plywood floors. check the floor joist to see if they are 2x6 and spaced on 16" centers. check outside walls 2x4, check for updates, power 200 amp box, water heater, furnace and if new windows and doors. check floor around tiolets, doors, water heater, sinks. check roof if these in good condition yes

Answer 10

No. You shouldn't buy a mobile home. Period.