Buying an older home

[Mary]

I have begun looking for a mobile/manufactured home to buy, and the older ones are so much more affordable, of course. However, I'm concerned that the older a home is, the more problems, etc.
I realize that it somewhat depends on who lived in it, how they took care of it, etc., but I know that things wear out and so on.
How long does a home last? Are there any guidelines as to how old is "too old"? For instance, I've read that HUD guidelines for construction were not passed until 1977, so I'd never consider one built before that date.
Also, if I purchase an older home that needs some renovations, are renovations worth doing on a home? Do they bring it up to "nearly new" condition so I won't have to worry about it?
Are older homes more difficult (or impossible) to insure? I know loans have a higher percentage rate for older homes.
Thank you to anyone who replies. As a first-time buyer, it's scary out there! If anyone can recommend a good book that will help guide me, I'd appreciate that also.

[Tom]

I see you have done some homework, and thats good. Everything you mentioned are key points. Older homes generally will need some work done. But how much is the real question. If your looking to make this an investment to make money it wont appreciate unless you put it on your own land. So if you live in a park any money you put in it will not give a very good return. But look at it this way, you get 0 return from an apartment.

I tell anyone who is considering purchasing an older home to contact a local MH repairman and hire them to give the home a complete inspection from top to bottom. Roof, floors. plumbing, heating and AC, belly and electrical should all be checked over. It will be the best $100 or so you ever spent and could well save you money in the long run.

Give consideration to repossessed homes also, some very good deals are to be had.

Im not aware of a good book for buying used, but maybe someone else will chime in with info. Tom

[David Oxhandler]

Here are several great web sites that cater to those searching for good "pre-loved" manufactured homes.

The MH Nationwide Multiple Listing Service
Associates - Repo Sale In Progress
National Wholesalers
MobileHomeAuction.com
Manufactured Home Finder Service

webmaster

[Tracy]

Ever notice that the only one with "clickable links" is the boss?

[Mary]

Many thanks to all three of you for replying, particularly Tom, who provided valuable links! (I guess he is The Boss.... ha ha)
I will continue my search with more confidence. Thanks again.

[Tom]

I'm a boss in my own mind only, lol. Tom

[rmurray]

smile...

[Carolyn]

Good Morning!
My husband and I just recently bought a 1987 Homes of Merit in Clearwater, FL. It seems to be in perfect condition. Is there anything that we should be aware of and what can someone tell us about the Homes of Merit homes. Thank you for your information.