Home Buying in Morganville>Question Details

Farzana, Home Buyer in New York, NY

what are the pro's and cons buying a mobile home ? Ideally how much it shoukd cost a 3bed/2bath home?

Asked by Farzana, New York, NY Tue Aug 5, 2008

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Hi Farzana,
I know they are building a new community in Morganville and the pro's are that you get a nice town with a good school system at a low price. However, the cons are resale, financing cost and the monthly fee to rent the space. You don't actually own any property.

If you need assistance please feel free to contact me.

Thanks,
Heather Daccurso
Weichert Realtors
0 votes Thank Flag Link Wed Aug 6, 2008
As already stated, many people opt for a mobile home for the cost. There is really no appreciation on mobile homes and they are tougher in NJ for resale.

If you plan to buy in a mobile home community check the monthly fees for the last several years. Speak to community residents about the area and managment.

If you plan to buy your own lot for the mobile home, be sure to check with the town about any zoning restrictions.
0 votes Thank Flag Link Wed Aug 6, 2008
you can also buy a manufactured home already on its own lot that way it is real property instead of personal property like in the option of renting a space.
the pros are that sometimes you can get a bigger place with all kinds of upgrades like fireplace, rounded corners, vaulted ceilings for a much lower price.
cons...after years of enjoyment they lose their value because people see them as replaceable...but always remember it costs you less to begin with.
0 votes Thank Flag Link Tue Aug 5, 2008
pros: cost
cons: you don't usually own the real estate and must lease the space it sits on. Financing is not as attractive as single family home, condo, or townhouse (pud) financing. If part owner sells park you must move home at a large cost---not likely but still a remote possiblity. Check laws regarding this in your area.
0 votes Thank Flag Link Tue Aug 5, 2008
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