This is our first time purchasing home. We live in southern part of Illinois.
What do we look for? What questions do we ask? Is it difficult fianicing mobile home? What about insurance? Are pre-owned mobile homes OK?
First Time...What Do We Look For?
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David
Re: First Time...What Do We Look For?
the best advice you will get.. is DO NOT buy a new one.... you will be sorry if you do... you can get 1 year olds for more than half of retail... find one and move it to you land or your park...
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rmurray
Re: First Time...What Do We Look For?
Buying a home of any sort involves substantial homework on your part..Home buying is the biggest financial decision you will make...You will be obligated to tens of thousands of dollars over a very long period of time...
You have started on the right tract...Spend sometime reading the posts here...Maybe by Randy's book from the bookstore...
You will want to compare new and used..and the advantages of both...(there is another post here mentioning 1 yr old used homes..there are very few of these available..there are many repossessions in the market place but most are 95thru 98 models...Since then there has been few home only financed deals..which means there are only very few repos in that age)
You will need to carefully assess your needs and your pocket book...One thing I see are folks trying to buy too far UNDER the amount they can actually afford...Remember a few dollars to buy better quality or to meet your future needs will be well spent..
You will have to decide where you want to put the home..Remember location is going to be very important when you decide to sell in the future..You should be looking at locations others will find appealing as well..
Financing a manufactured multi section home...new or used..with land is not too hard to do..I will say the easiest financing..FHA..will only finance new homes..
Financing a manufactured home independent of the land is very hard to do right now and very expensive..
Insurance is plenty available for manufactured homes..Good homeowners policies can be had from many companies..You should shop around for the best service and price..just like you should for any insurance..
Buying a manufactured home...ANY home takes work and decisions...you have started...it is hard..but well worth it in the long run..Good Luck...stop back here often..
You have started on the right tract...Spend sometime reading the posts here...Maybe by Randy's book from the bookstore...
You will want to compare new and used..and the advantages of both...(there is another post here mentioning 1 yr old used homes..there are very few of these available..there are many repossessions in the market place but most are 95thru 98 models...Since then there has been few home only financed deals..which means there are only very few repos in that age)
You will need to carefully assess your needs and your pocket book...One thing I see are folks trying to buy too far UNDER the amount they can actually afford...Remember a few dollars to buy better quality or to meet your future needs will be well spent..
You will have to decide where you want to put the home..Remember location is going to be very important when you decide to sell in the future..You should be looking at locations others will find appealing as well..
Financing a manufactured multi section home...new or used..with land is not too hard to do..I will say the easiest financing..FHA..will only finance new homes..
Financing a manufactured home independent of the land is very hard to do right now and very expensive..
Insurance is plenty available for manufactured homes..Good homeowners policies can be had from many companies..You should shop around for the best service and price..just like you should for any insurance..
Buying a manufactured home...ANY home takes work and decisions...you have started...it is hard..but well worth it in the long run..Good Luck...stop back here often..
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