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Is it cheaper to buy a doublewide /modular home or a home that is already built?

My husband and I wan't either a doublewide or modular home,but I know their is a lot of work involved in getting the land and what not.So should we just buy a home that is already on land?

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Tia23sb

Asked by Tia23sb at 4:22 PM on May. 26, 2009 in Money & Work

Level 4 (39 Credits)
Answers (5)
  • It depends what you want. You could get a brand new Modular home for anywhere from 60-100k. I've seen some REALLY NICE ones for about 80k. You would have to buy a lot, and get the foundation built, but you might not find something that is new or remodeled for the price.
    StifflersMom82

    Answer by StifflersMom82 at 4:25 PM on May. 26, 2009

  • We bought a 4 bed 1 1/2 bath mobile on an existing lot in a small park. We only pay 350 a month for lot rent cuz we own the trailer. Could be worse...Only paid 7k for the trailer and got to put our own floors, paint, and appliances in the place. If they every sell the park we could be screwed, but I don't see that happening in the very near future. Who knew Craig's List could be used to find our home!
    Anonymous

    Answer by Anonymous at 6:55 PM on May. 26, 2009

  • I would buy or build a home before thinking about buying a modular home. Modular homes go down in value, but a traditionally built goes up in value.
    slw123

    Answer by slw123 at 7:14 PM on May. 26, 2009

  • Just remember property taxes as well at the end of the year.

    I've heard buying is cheaper, and true, newly built homes do go up a bit in value. Mobile/mods may decrease a bit in a few years....and today's economy homes built last year have even come down a bit by several thousands of dollars according to MSN Money.

    Check out all your options, the Pros and the Cons to all......and though having a home in a mobile home park, new owners can make the lot rents increase, unless something is stated different in your lease for the lot itsself you rent.

    Good luck for which you decide!
    Anonymous

    Answer by Anonymous at 12:47 AM on May. 28, 2009

  • I, personally, would go for a single family home before a modular/mobile home. The values are better, and at least in Florida they can be cheaper to insure.
    lilkgfan

    Answer by lilkgfan at 10:46 PM on May. 31, 2009

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