Looking into buying MH

[Bec]

My husband and I are looking into buying a 1200 sq ft double-wide. We will only live in it for the next 2.5 years. Is it worth it to buy a MH and try to sell it in a couple of years? The cost of living is very expensive where we live and our apartment rent is twice as much as we would pay for a MH monthly payment. In the very-short term we will save money and have a nice place to live but we are worried about what happens when we try to sell or rent it out in a couple of years. Also, we plan to put it in a MH park. Land is too expensive and hilly here. We live in a major college town and have hopes that we could sell it to a young married couple attending grad school like ourselves. Any thoughts/advice would be greatly appreciated.

[mac]

Add the cost of the home, the depreciation, and the monthly rent for the lot... and I think you would want to stay in an apartment for that time, unless housing prices are rising quickly. When you say 2X as expensive as the MF home payment, that's just the house - the park payment is likely another $300-500 a month. Homes in parks take far longer to resell, in general.

[rmurray]

West Virginia is a pretty open market..but..like many areas right now used homes are hard to sell..

You have a good idea about a student in the future..if you can find a park that students will want to be in..The most important thing to resale is location...location...location

Better than new for you would be a used home..Have you checked out the parks and looked for homes for sale..You should be able to buy them for about 65% of new..It is true that financing is more expensive..but you will have much lower principle balance when the time comes to sell..

I have a daughter in College now..I looked into buying a manufactured home and placing in a park..even renting out some of the space in the home..financially it would have been a savings...but..I could not find a park I wanted my single daughter to live in..College apartments are very expensive...but safety is one of the things they seem to pay attention to..

I looked...campus housing is about the same price as my daughters school...I would assume local apartments are in the same range as well...The big trick is finding a good park...If there is such..then manufactured homes might be a good bet..