manuf homes in va or condo

[trey]

Hi ... I live in northern va (suburb of dc) and am considering buying when my lease is up on my apartment. I have looked at condos that are 150,000 and under, but they are studios or cramped 1 bedrooms.

Is buying a manufactured home a wise investment in this area or are condos a better way to go? I am from indiana and am used to having a house and a car and a garage. after 4 years of expensive city living with no car, I still have not adjusted. But I can't afford a stick-built house out here. But I also don't want to purchase anything that is going to fall apart or be an unwise investment.

I'm also confused about how to find a place to put the home. Is it true that if you have the home permanently grounded in a manuf. planned community, it will not appreciate in value? do you need to purchase land as well as the manuf home in order to enjoy appreciation?

thanks!
trey

[Liz Harris]

Hi, I'm Liz Harris and I am a Mortgage Broker. Pretty much anything you buy in Northern Va is going to be expensive. Having a house built can be even more expensive. Have you thought about looking for fixer uppers or forclosed houses. That in my opinion is what's hot now for anyone looking to invest in a home. You can buy a home a really low cost do the refurbishment or remodeling and the house will be worth double what you paid for it. I do work with many Realtors, Broker's and investors so if you need help in looking for a good home at a reasonable price I may be able to help you. Have you even been preapproved for a loan? You may want to do that so you know "how much house you can afford".

Regards,

Liz Harris
Mortgage Broker
703-856-6048 Mobile
[email protected]

[trey]

hi Liz ...thanks for responding ...

yah i know it's expensive here .... but rent is, too! paying $929/month for a studio (and that's cheaper than what i was paying in dc)

so do you think that a land/manufactured house would be a bad idea in this area? i thought about buying a house and fixing it up -- but I don't know anything about fixing up homes ....

i am also looking into condos -- are they a better investment than a manufactured house?

no i haven't been pre-approved yet --- but i have an idea based on the calculations of how much i can afford.