Downsides to Manufactured Home?

[OtiliaBecker]

I toured a 1980 manufactured home today. It needs some work, but mostly cosmetic. My realtor warned against making an offer, though, saying that the house may be unfinanciable in the future should we try to sell it. He also warned against investing too much money on fixing it up, as we wouldn't see that money returned. He also mentioned that the current cutoff for HUD is 1976, but that that year may change in the future, possibly making the house unfinanciable.

He said down the road we may end up selling the house by itself and build a new house. Or we could rent out the house instead of selling it when we decided to move on. Either way, though, he didn't think the house itself would be worth much in the future.

Does anyone have experience in this area or have any insight to share? Thanks!

[AliciaSolomon]

Since your realtor mentioned the possibility of eventually selling the house separately and building a new one, that seems like a viable long-term option, especially if the manufactured home becomes harder to sell in the future.

[Courtneya]

Otilia, that's tough advice to hear! It's true that older manufactured homes can be tricky. Your realtor's points about financing are valid.

[Kevinclary]

That's a valid concern about future HUD eligibility and financing! While the risk is real, focusing solely on potential resale value based on fluctuating rules might overshadow the immediate benefits the house offers your family. Perhaps considering a home inspection for potential safety concerns could balance the financial aspects?