I am looking at buying a manufacture home at Oakpoint in Middleborough, MA. My main concern is if we decide to sell in a couple of years, will we get our money back?
The house sells for $225,000. The $455 fee includes paying for the taxes, landscaping, trash pickup , pool, tennis, clubhouse. You have to be 55 to live there.
Any one have experience in these type of communities??
Resale Value
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rmurray
Re: Resale Value
You did not mention if the land was included or this is a land/lease community...but..as with any home location..lolcation...location are the most important items when it come to value as resale time..
If this is a rental community..I would normally say resale could be tough...but very well managed Adult communities in good locations can have VERY strong apprciation...Even here in the SE..where most homes in rental communities are very hard to resell...there is one adult community that is returning a very strong return for its residents...
If this is a subdivision where you own the land..restricted communties have a very good track record of resales...
Candidly 255K sounds a lot high for a rental communty..but for a good subdivision this could be fair in your area..Only you can decide what the local prices are in similar communities..
Do not fear...you should be fine...If the deal is right for you...go for it..
If this is a rental community..I would normally say resale could be tough...but very well managed Adult communities in good locations can have VERY strong apprciation...Even here in the SE..where most homes in rental communities are very hard to resell...there is one adult community that is returning a very strong return for its residents...
If this is a subdivision where you own the land..restricted communties have a very good track record of resales...
Candidly 255K sounds a lot high for a rental communty..but for a good subdivision this could be fair in your area..Only you can decide what the local prices are in similar communities..
Do not fear...you should be fine...If the deal is right for you...go for it..
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P. Gaita
Re: Resale Value
I will be leasing the land. The 0ver 55 community already has 400 homes in and are planning to build another 300.
The $255k includes a 5% MA state tax because I am buying the home but not the land. This also includes a lot of upgrades. The prices in this community go from $180s to low $200s. You need to put down 10% when you sign the agreement to purchase. I have to get a chattel loan for this Which a lot of banks won't ok.
The people who live there now love it. The only problem I have is the location is 40 miles away from where I live.
The community like I said before has a swimming pool,
tennis court, club house. Does anyone know anything about Oakpoint in Middleboro, MA ???
The $255k includes a 5% MA state tax because I am buying the home but not the land. This also includes a lot of upgrades. The prices in this community go from $180s to low $200s. You need to put down 10% when you sign the agreement to purchase. I have to get a chattel loan for this Which a lot of banks won't ok.
The people who live there now love it. The only problem I have is the location is 40 miles away from where I live.
The community like I said before has a swimming pool,
tennis court, club house. Does anyone know anything about Oakpoint in Middleboro, MA ???
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rmurray
Re: Resale Value
I hope the place is very nice...You can get a good chattel loan from Chase bank on this site...
I have to assume the dealer has some type of loan arrangements with a bank to help their customers buy..
Good Luck
I have to assume the dealer has some type of loan arrangements with a bank to help their customers buy..
Good Luck
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