MH Expert thoughts please

[Drae]

Hello, I am going to buy a MH for a new piece of land we are in process of closing on. We are going to get a MH around 2000sf and upgrade some finishes. our plan is to start building a site built home ourselves in 5 years and sell the MH in 7 years.

My question is other than finishes (the things we view and see) would you recommend upgrading items such as floor joists and roof framing if we do not intend to live in this MH forever? would we get the $'s back when we sell?

Any thoughts are welcome,

D

[rmurray]

One thing you have not mentioned is if you plan on selling the home and the land as a package...

I NEVER recommend a person to buy for the short term and sell independent of the land...This will cost you tens of thousands of dollars...It may well even be impossible to do....In this case...I would recommend you do that stick built dream home now..while rates are affordable...

If you plan on selling the home and land as a package...you will do good even with a basic home as long as you keep it in good condition and do the proper maintenence...

[Lynne Stewart]

After reading this board for awhile, I have to go with Murray above. Alot of the posts I've read of people in despair about their house, one theme is the same in all...MH's in parks, or MH's not attached to the land it's impossible to sell at all or get what you need out of it. If you must have the land NOW for whatever reason, but a house is impossible NOW..get the cheapest oldest singlewide you can bear to live in and hope it doesn't cost you too much to have it hauled away. I almost think the best thing the industry could do is discourage these sorts of sales (except perhaps in CA where it seems to do well)

[Drew Pierce]

UNFORTUNEATLY YOU WILL NEVER GET AS MUCH FOR A USED HOME AS YOU WOULD FOR A NEW HOME. IF YOU END UP MOVING THIS HOME AND NOT SELLING IT WITH LAND, DO YYOURSELF A FAVOR AND CUT YOUR LOSSES BY PURCHASING A GOOD SECOND HAND SINGLE WIDE REPO. YOU CAN SAVE SOME MONEY ON THE FRONT SIDE, AND WHEN YOU TURN AROUND TO MOVE AND SELL IT YOUR UNRECOVERABLE COSTS WILL NOT BE AS GREAT. IT COST A LOT OF $$$ TO BREAK DOWN AND TRANSPORT THE DOUBLE WIDES COMPARED TO A SINGLE WIDE.

[drae]

Thanks for your thoughts. Yes we are in a different position in life then most posting on this board. It kind of goes like this...170 for MH, 270 for panel home (cookie cutter house), and 380 for customhouse. Of that about 70 is for site related costs. We would at this time strap ourselves too much for the customhouse. I understand we will lose over half of our money to sell off the MH later. Another way I am looking at it is 10 mo to build is 20K in interest fees, 84 months at $1600 is 134K that is 150K to lose 50 may be worth it. Not to mention costs I will save in building our house over two years with help of my subcontractors and my time, probably another 20K at least. We are buying 20 acres and I will section off a parcel if our main road ever gets paved. If that happens the whole thing could change.

Believe me if I thought our marriage could withstand a singlewide I would be there. I grew up in one and was not a big deal. I have been arguing that point for two months. If I can find a good double wide within two months we may go that way, there are not that many doubles for sale on the repo or FSBO boards. At least MH’s without land attached.

Thanks again.

Back to my original question…right now I think I will upgrade the roof, but not the floor joists.