The Art & Science of marketing Manufactured Homes. Retailers, sales people community operators and managers share experiences.
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Post by Wingnut » Thu Oct 23, 2003 8:40 am

Well, I have NO idea of what I'm asking, so please bear with me. My wife and I have decided to separate, for good? for a year?? who knows.

Anyhow, she and I will keep our finances together (yes, we are both trustworthy and the climate at home is rather friendly) -- she will stay in the home we own and I think I would like to buy a trailer (pre-owned) in a nice community in my area.

I would rent the lot, but buy the trailer. This doesn't have to be the Taj Mahal, however, I'm not looking for the rusty, beatup, hunk either.

How long can you take a mobile home mortgage out for? Do you pay property taxes, etc? I guess, other than depreciating, instead of appreciating, what diferences exist in mobile home purchase and a 'built' home?

Thanks for help and, again, pardon my ignorance.


Re: Clueless

Post by Dan » Thu Oct 23, 2003 12:16 pm

It's better to ask now than find out later.
The first thing to do is look at your personal financial situation. Find out what you can afford and then work to getting the best situation based on that condition.
Also, seeing your situation seems a bit uncertain you might want to consider renting until "who knows" becomes whatever it will become.
To answer your questions, in most cases, rent on a lot covers land taxes. Your financial situation along with the age and condition of the home will determin the financing. But, used home loans can go up to 15 years.
The purchase of a "built" home includes land, that means deeds, morgages, closing costs and all that good stuff. Buying a manufactured home on a rented lot is a much less complacated process.
Good luck, hope everything works out for everyone involved.


Re: Clueless

Post by Wingnut » Thu Oct 23, 2003 12:32 pm

Dan, thanks so much for the info (and the thoughts!).

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