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Newbie first post

Posted: Fri Apr 12, 2019 7:13 pm
by ultrarunner2019
I am a 63 year old single man who is more or less retired and living with relatives. I have not yet started receiving SS retirement benefits; I am trying to stick it out with the relatives until I reach full retirement age.
I live in northern NJ where home prices are far too high for my expected SS income. I don't have much other income, but have an IRA I can use to make a down payment.

I believe that a manufactured home would be my best option, considering the cost vs a 'stick built' house. That said, I strongly prefer a home on private land vs a 'community'.
I understand the complexities of placing a manufactured home on private land - first, the land must be zoned for this type of home, then the owner must pull all the permits, and have all utilities run. Sounds pretty expensive. So, I'm thinking that perhaps a better option would be to purchase an existing home on private land.

At this point, I am just trying to get my feet wet.