Considerations for buying.

[Aaron]

My wife and I are contemplating purchasing a manfactured home. We wanted to know the pros and cons of doing so. Also, what kind of equity can we expect to gain from purchasing a manufactured home. Thanks in Advance!

-_-Aaron

[rmurray]

Big questions...There are thousands of web pages devoted to just these answers...Far too much to post here....

Appreciation is a tough question...The home alone will depreciate just like a brick home without the land...Actually your return on investment of a manufactured home with out land will be much better than selling a brick home without land...

OH you say..I would never sell a brick home without land..Of course not and manufactured homes should be considered the same...

Home only can do well in some parks...but the park has to be very desireable and in a great location..Here in Augusta, GA, where parks are 1/2 empty and filled with repos..resale here is terrible...BUT..there is 1 park here that outshines them all..resale is very profitable..the park is VERY desirable...it has NO repos..It has NO empty spaces...So even here park living can be very desirable and profitable..

Manufactured homes and land...react to the resale market just as any home on that same land...If the location is desireable it will do well...if not it or any home will not..Location, location, location..

[rmurray]

Post was getting too long..

Do a little research before you buy...Maybe even one of Randy's books would help...See the bookstore on this site..

My company web site has a link page with scores of web sites with helpful info... www.melvinwilliams.com and go to link page..

This site has much info..
http://www.manufacturedhousing.org/consumer_center/

A ten step buying guide..
http://www.factorybuilthousing.com/guid ... =homestore

That should get you started...Come back often and ask lots of questions...Good Luck

[Pete]

Location, location, location that’s what makes property go up in value. The problem I find when looking at manufactured housing is the areas that allow these types of homes are usually not in the best of locations. If I wanted to purchase land for a manufactured home it’s going to be out in the boonies someplace.

[Art Rigsby]

California, California, California, will make any MH go up in value.

[Dan F]

You hit the nail on the head. A Manufactured home in CA on a permanent foundation will increase in value parallel to a site built. But we also pay 10 to 15 thousand more for the same model offered in other states, do to supply and demand. All the dealers in neighboring states are capitalizing on this. I went out of state for my home and the dealer said 4 out 5 homes he sells are in CA. Seems unlikely but I reseached for approx 8 months on like models and this was true accross the board. plus every dealer I went to in CA was slicker than snot. just my experience.

[Art Rigsby]

Dan,

Now I find out! It never crossed my mind to go out of state to buy. We visited a lot of dealers in central California and did find a lot as you said, slicker than snot. We ended up purchasing from a dealer in Lakeport and were pretty well satisfied with the sells staff. Getting prompt service has been another matter. No major problems with the house (Silvercrest) but the only way I have been able to get corrections to problems is to threaten the dealer/manufacture with filing a compliant with the applicable agency.

Art

[Amy]

Hi Art
Would that dealership be owned by a company whose intials are D & A? Just curious......
Amy

[Art Rigsby]

Amy,

Modern Manufactured Homes in Lakeport is a sales location for Dupar and Angel.

Art