New to this please help

[Carrie Tompkins]

This would be my first purchase of anything on my own. I am going through a divorce and need a home for myself and my daughter. I have found a 1999 Skyline in Bend, OR in a nice place for 45,900. The square footage is 1296 and it is occupied by a nice older lady who seems to be gentle with it. Pending an inspection of course, would this forum see this as a pretty good deal? It has a deck, carport and a grass fenced in backyard (not with sprinklers but the park pays the water and sewer). The land rent is $340 per month. It is Zone 3 rated but I would have to buy a fridge and washer and dryer of my own.

There are two other options one is an Oakwood 1999 model OK44002F 44' x 27' but they don't know the Zone level on it. They have been trying to fix it up a bit but it seems a little more on the "standard option" end of origional purchase. The bonus about this is that it is across from the (fenced off) duckpond, community children's park and the community mailboxes and the manager's home and office. The rent is still the same. The lot is not fenced but has 3 pines on the lot. It also has a carport. The price for this one though is $53K.

The 3rd one is one house closer than the first to the railroad track but it has a 2 car detached garage. It has an open floor plan but needs some work inside (touching up - new kitchen sink, kitchen laminate chipped, flies inside for some strange reason although it doesn't smell, master shower looked like rust? or something around door edge and drain and seams in corners of rooms needed some love) but then two single guys lived there. It is a Champion 1999 that is a Zone 3 and all the appliances (fridge, washer and dryer) stay with the house (although the dishwasher doesn't because it doesn't have one - I would have to put one in as well as a garbage disposal. This one also has good light but no decking and no yard that makes any sense so I would bring the deck around the house and make it a deck, garage house I guess - as long as I could figure out about the flies. That one is 46,000.

It is hard to help me without seeing them but if you know the makers and standard prices of 1999 models maybe you can help me - why are all the ones for sale 1999's? If this park had any open spaces I would buy a new one but they just don't so I have to choose something that is already there. Please help. Thanks for your time.
Carrie

[Mac]

There is another alternative to consider. If you buy one of these houses, you will pay an interest rate of near 10% or so, to compensate for the risk of a house without land. Calculate that payment, add it to the rent payment, and you might be in the ballpark to buy a home on land - maybe not in Bend, but in LaPine or Redmond or thereabouts (I live southwest of Portland and have friends in Bend). My opinion of Oakwood is that they weren't as high quality as Skyline or Champion. In any event, you will want a professional inspection before purchase.
Most, if not all, of these will have particleboard floors (Cresdek or Novadek are common brands). That will be OK as long as your daughter doesn't splash lots of water or it gets cleaned up right away.
One of the problems you have in a park is that if the land becomes more profitable to build on, you and your home will have to move, which will cost you at least several thousand dollars. Buying a home on land will alleviate that. Your mortgage rate will be more like 6-7% depending on credit, and you will be able to deduct all the interest. If I were you, I'd post this at mobilehomerepair.com as well.
My guess is that in your market you have some room to bargain on these prices as well - see how long they've been on the market.
Best of luck to you!

[rmurray]

Greatr responce,,all manufacture home loans have deductable interest..even those in parks..