Looking into buying a modular home. Ten years old. 3 bed/ 2 bath. Owner is looking for $40,000. In pretty good neighborhood and condition. Kinda just looking for advice. Thanks! (This would be the first home to ever buy and would have to be bought on a newlywed college couple's income.)
2007-04-11 20:40:33 · 5 answers · asked by lovin' life 3 in Business & Finance ➔ Renting & Real Estate
Although modular homes do not appreciate as wells as stick built housing, the land they sit on does. When purchasing a home to live in value is based on what you Like instead of appreciation. If you like this home for $40,000 then it is definitely worth every penny.
2007-04-12 04:24:05 · answer #1 · answered by Richard Stephens 2 · 0⤊ 0⤋
Depends on the area. Modular homes are more difficult to finance and do not appreciate as quickly as conventional houses.
2007-04-11 22:52:07 · answer #2 · answered by Fearless Leader 4 · 0⤊ 0⤋
I would be careful. Modular homes do not hold the same value as other traditional homes. They are similar to mobile homes in quality.
2007-04-12 02:10:34 · answer #3 · answered by Kerry 7 · 0⤊ 0⤋
seems like a good idea. is it close to work, schools, shopping center, produce store, bus stop.
good luck!
2007-04-11 20:44:14 · answer #4 · answered by ty808 3 · 0⤊ 0⤋
it could be but check out first time buyer info online and see if you qualify
2007-04-11 20:44:36 · answer #5 · answered by M J 6 · 0⤊ 0⤋