Moving a MH

[Tony Galorneau]

My wife and I live in an apartment in Michigan and we are considering purchasing a MH and putting it in a lot-lease community. It is a beautiful community, but we would like to own our own home someday on our own land. Any comments about purchasing a home, leasing land, and later putting it on a basement foundation of our own? I am told it can be done for a cost, but is it worthwhile? I am afraid that reselling a manufactured home in a lot-lease community will be dificult because of the competition of the new MH market. A lot of help and insight will put our minds at ease.

[rmurray]

If you can afford a home in a rental community...you can better afford a home on your own property at this time...with interest rates at an all time low..mortgages of home and land are lower than they ever have been..and will ever be...

[Karl]

Also, as mentioned, it can be difficult selling a used home already situated in a park. Some of the parks are also in the business of selling new homes so you could be competing with them. Unless your home is paid down quite a bit, you may have to sell it for for less than you owe due to the excessive depreciation on manufactured homes in trailer communities. I understand it is very hard now to find loans for used mobile homes sitting in parks--though this website has leads in that area. Moving a home is not that big a deal or expense, depending on where you are and how far you want the home moved. We had ours moved last year--the total cost for everything was around $2000, and that was just a few miles. We had very little damage--just a crack in the ceiling that was easily fixed and a couple of fiberboard walls popped out--which were immediately popped back in.

[David]

I find the opposite of the homes loosing value in the park settings. In most close to major cities an example ( I am around an 1hr 30min outside of New York City, in most cases these home need to have an appraisal done on the when sold in a park. I am in the loan business for hoes in parks and even my big lenders Like Chase and other require these appraisals on used homes.

In my area I have financed homes from 1990 for $75000 in a park setting. A good appraisal company takes all in to consideration quality of schools shopping access, apt rent in the area. Look in you local paper at what other people in your area are selling used homes for now are they more or less expensive in the paper. What are the dealers selling used home for set up in parks and park owners for that matter they will have to sell used in the same manner as you.


I offer financing for in many states and have these this in FL NJ NY CA WV EVEN MICHIGAN and more.

David
MobileFinancing.com