Like...can you get a mortgage on them? I understand they are a cross between a mobile home and an RV but if they are put on a foundation are they considered a home? My husband are looking into purchasing one as a temporary home (2-7 years) while we save up and build our dream home. Any advice from park model owners.
2007-11-04 14:19:36 · 4 answers · asked by Joda 1 in Business & Finance ➔ Renting & Real Estate
We have a 1 acre plot of land adjacent to the site of where we are going to build. It will not be in a park but on a wooded lot. We were thinking about using it for a rental property or "grandparent housing" after we move. Thanks for all the answers thus far. If you have anything to add since I've made these details available, please answer again.
2007-11-04 14:51:41 · update #1
A park model home is NOT something in which you would want to live for anything other than leisure time. By definition, a park model is LESS than 400 square feet of living space. You CAN put one on a foundation, but I'd shudder to think of how much money you might lose if you go thru that expense and then attempt to sell it.
You are FAR better off to purchase a very modest conventional house while you save for your 'dream home.'
2007-11-04 14:27:40 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Think first at the ambiance as a whole.First of all you need a good sound system with music you and your guests love,also the light should put in evidence the best parts,to be not to bright and not to soft,also the floor could have a nice carpet in colors full of life,and if want some really stylish and cozy a fireplace would be real wonderful with a picture of a gorgeous redhead a top of it or a flat stereo TV.All over the walls very comfortable couches.Also a nice bar,and if you have an extra place a jacuzzi would be perfect.You'll feel like a king inside there and the most beautiful and charming women shall visit you.Oh God,I already envy you in the good way.Most of luck and best of my wishes.
2016-05-27 09:49:29 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If they are in a park they are considered "Chattel" and carry a higher interest rate. You can still get 20 year loans on them. If you have really really really good credit, (like 750 fico) expect at least 9% but more than likely about 12% average. but keep in mind that Park homes go down in value significantly and park rents are going up fast right now. You are probably better to rent right now.
If you have land and the mobile is put on that, you can get normal interest rates.
2007-11-04 14:35:26 · answer #3 · answered by Peilthetraveler 5 · 0⤊ 0⤋
Jo,
have hubby do better homework. keep renting and numbers come out better than purchase of 'moble' homes in a 'park'.
2007-11-04 14:29:43 · answer #4 · answered by Anonymous · 0⤊ 0⤋