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4 Bumps

would consider this house price a good deal?

the place SO and I are considering buying in the future, is where we live right now, we just rent. the area is pretty wealthy. just a street away are farms and very pricey homes. just to give you an idea of the area. our landlords offered to give us this place for $55 grand and it is on about 1.5 acres, excellent school district, quiet neighborhood, lots of kids, beautiful rural area. only thing, is the house is a double wide mobile home. We'd of course have it inspected and have the landlords fix a few things....what do ya think? it's not very new....a bit old. we know we wouldnt gain value of this home but we could always build a new place in the future and make up for the loss by making the land prettier...

Answer Question
 
Owl_Feather

Asked by Owl_Feather at 5:26 PM on Aug. 22, 2010 in Home & Garden

Level 22 (13,272 Credits)
Answers (18)
  • basically you're buying the lad the well and the septic system
    and for that i'm guessing 55k is high
    katiekruschke

    Answer by katiekruschke at 5:27 PM on Aug. 22, 2010

  • i would ask a realtor about what doublewides with 1-3 acres of land go for in your area, get on craigslist and see about houses in the area and see if it's good for your area
    angevil53

    Answer by angevil53 at 5:31 PM on Aug. 22, 2010

  • I think that is a great idea. We own 2 acres and live in a new double wide. It was around 85,000 for our house and 25,000 for our land. (Land is high here) Yall could build a new place little at a time whenever you had extra money.
    MKSers

    Answer by MKSers at 5:31 PM on Aug. 22, 2010

  • The monthly payment will only go down if you do nothing to the home, the moment you start to improve, remodle, add roofing, cement, sidewalk, driveway add-ons, new doors, new siding, new window, plumbing, all the monthly payments will rise significantly. ALSO?? Do you figure your down payment first ? IS this built in, or do you need money down. first.
    Is a land contract available, ? So you don't need to pay the bank directly, and you don't add interest. This is where you'd pay the home seller direct.
    coffeeyum

    Answer by coffeeyum at 5:32 PM on Aug. 22, 2010

  • i agree with katie that you're basically paying for the land... i'd do a price analysis on land values in your area
    elizabiza

    Answer by elizabiza at 5:34 PM on Aug. 22, 2010

  • i think it's a good price it gives you opportunity to build your dream house in the future.
    natasha86

    Answer by natasha86 at 5:34 PM on Aug. 22, 2010

  • I also live in a mobile home. I have 2 acres i am pretty much right in town but the mobile is sent back so we have a pretty long drive way but at the end of my driveway and two houses up is the bus stop for the town the schools are wonderful. My home is a doublewide and it's a 1991 we paid 33 grand. So look into the prices of mobile homes in the area. What year is the mobile home? If you want to PM me personally feel free. I think it is a little high but maybe for the state and area your in it's the prices. Hope you and your family all the best.
    raemommy

    Answer by raemommy at 5:34 PM on Aug. 22, 2010

  • coffeeyum: the down payment is not bult in as far as I know (although knowing them they might) but it is very affordable and they will not add a closing cost.
    Owl_Feather

    Comment by Owl_Feather (original poster) at 5:40 PM on Aug. 22, 2010

  • One of the drawbacks to buying an older mobile is the construction. Typically the older ones don't have shut off valves under the sinks or toilets. The thickness of your walls, insulation, what type of roof should also beconsidered. Best of luck!
    lizard111

    Answer by lizard111 at 5:40 PM on Aug. 22, 2010

  • I cant quite remember the age of the home...I want to say 80's?
    Owl_Feather

    Comment by Owl_Feather (original poster) at 5:41 PM on Aug. 22, 2010

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