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Is this a good deal?
Looking into buying a modular home. Ten years old. 3 bed/ 2 bath. Owner is looking for $40,000. In pretty good neighborhood and condition. Kinda just looking for advice. Thanks! (This would be the first home to ever buy and would have to be bought on a newlywed college couple's income.)
5 Answers
- 1 decade agoFavorite Answer
Although modular homes do not appreciate as wells as stick built housing, the land they sit on does. When purchasing a home to live in value is based on what you Like instead of appreciation. If you like this home for $40,000 then it is definitely worth every penny.
Source(s): I am the author of The Property Manager's Survival Guide and owner of InvestNiche.com the Property Investor's Group Services website. - Fearless LeaderLv 41 decade ago
Depends on the area. Modular homes are more difficult to finance and do not appreciate as quickly as conventional houses.
Source(s): http://primelendingonline.com/ - KerryLv 71 decade ago
I would be careful. Modular homes do not hold the same value as other traditional homes. They are similar to mobile homes in quality.
- 1 decade ago
seems like a good idea. is it close to work, schools, shopping center, produce store, bus stop.
good luck!
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