1. The smaller the house, the higher the price per sq. foot cost for new construction.
2. Unless you are paying cash for the lot and tear down you are looking at financing the lot and then getting a construction loan, which is more difficult and a higher rate.
3. As one of the earlier answers stated a manufactured/mobile home will go down in value- after 25 years you can't get insurance on them.
4. Find a full time professional realtor, sit down for a consult regarding your needs and a mortgage broker for what you can comfortably afford and let them help you through the process. This is a major investment. Take the time to do it right and be prepared.
I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
VIEW PROPERTIES ON YOUR SMART PHONE
TEXT "PAMELA" TO 727-213-5142
Contact Wells Fargo for the HomeStyle or FHA 203k.
If you only need $35k max to "remodel" and there are no structural repairs, you can go with a streamline 203k and almost any lender will do these mortgages.
Also if you buy a Fannie Mae owned fixer upper property you can do a HomePath Renovation mortgage with as little as 3% down (5% down will get you a significantly better interest rate, though).
If you're not already working with a Realtor, you're welcome to search ALL properties available and know the true status (active with contract are not actually available for you to get a binding contract on), sign up for a free ListingBook account on my website:
All the best,
Alma Rose Kee, PA
Future Home Realty
You have many options available. One that you should consider is seen in the Glen Cairn community in downtown Dunedin FL. This community is located on Douglas Ave between Main Street and the ball stadium on Beltrees. (NOTICE: I receive no compensation from Glen Cairn)
I have an EXCEPTIONAL site with an existing home, (a blow up) located on a city block, in a well maintained, non-deed restricted community. This is a very unique property with Curlew Creek running through it. Country living in the heart of Pinellas County.
The reason this will be such a bargain is half of the property, high and dry, can only be used for enjoyment/recreational, meaning it can not be build upon. In essence, you will have your own private park.
Take a look at the option of Glen Cairn (will build on your site) and the unique site I have available.
Please call if you are serious. I will not follow this thread.
Don't use that 'contact' link.
Don't use the Trulia email.
If you are serious call.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor, Fl
My advice is to scrap all your plans! The bank vault is open, buyers are pulling out bags of gold and you're looking to grab a bag of pennies?
There is a glutton of homes being sold at once in a lifetime good deals!
1. lot loans are almost non existant these days
2. construction loans are a royal pain and very rare these days
3. manufactured homes are seen as Trailers by lenders, they have terrible financing and Go Down In Value!
Do yourself a favor and find a good deal on a Re-sale or Foreclosure, put 3% down with NO PMI or no money down while rates are low and be glad you took my advice.