Manufactured housing, starter home?

H

Heretic

Guest
Hey all, I got a question.

Is anyone familiar with "manufactured housing" areas. This would be like the cherry cove advertised sometimes on somd.com.

Anyways Im fairly young (27), single, have a good job with the government (engineer) and have been out of school for only 2 years. For the life of me I don't think that I can afford a real house in St Marys yet and Im sick of paying rent and having to worry about what my neighbors do affecting me. (Flood of my place because of upstairs neighbor). I think that I would have to buy a house that is 100k or under and that really limits my options.

I dont want to move into a neighborhood that has an unsavory element, but right now I just dont have a whole lot for down payment. I know the trailor parks here are just beyond nasty and would never consider living in one.

I have considered a townhouse but then again I dont want a stupid neighbor end up burning my place down with theirs. Anyone know how much you can usually talk off the price of a house? Say they are asking $125k, what should you offer?
 
not to bad of an idea, but if you just saved a bit and got a new home, most builders will help towards closing costs and there is the maryland first time home buyers break, some manufactured homes are pretty nice, but you have to pay attention to what type of community they are putting together, and always important is the location..anyway Good luck, remember real estate is an investment, so gotta put some into it and around here you are likely to get great returns:)
 
H

Heretic

Guest
What exactly is the Maryland first time home buyers break?
 
sorry to have made that sound like too big a thing, but it is just another part of all the fees that are part of closing costs, and first time buyers are exempt, it was less than $1000, but when you are getting hit with all those fees, not having to pay one was great,
 

FIREMAN

New Member
It doesn't take long to soak up 125k, when buliding a new home.
$40,000+ for 1-2 acres of land
$5,000 Impact fee soon to go up to 7,000
$Up to 10,000 Building Permits
$15,000 Well
$15,000 Septic
etc................................
Take the price of material for the home, take that and double and that will usually be the labor for the construction group.(ruffly)

My suggestion to you would to look for a place with a trailer or small double wide already on it with more that 4 acres on it. Move in save up your money for a couple of years and then build a custom house directly behind it and when the house is comeplete move the trailer out of the way and you have a brand new home. Your saving money by not having to pay the impact fee/septic/well. I could go on for days, but my hand is tired from typing now.
 
H

Heretic

Guest
Im guessing I can do 100-110K, not sure though. Right now I dont have much for downpayment, been paying off student loans as quickly as possible. I am paying $725 a month in rent now. SO I was figuring I could do $850 a month housepayment.
 

watercolor

yeah yeah
oh yea,. you could easily do 850 a month! I have seen it!
And the rates right now being 6 %. Jump on it now. We had one of the lenders that we work with send us a sheet saying for a 30 year it was at 6%!! Man, I will tell you, if there was any way for me and Jess to do it..I would be hopping on that train that left yesterday!
:cheesy:
 

Sierra39

Hairball Magnet
Even buying your own land and living in a trailer is a better investment than renting! Go for it!! Real estate is the LAST good, affordable investment...(hopefully it won't depreciate 50% a year like the stock market!) Plus you can at least deduct some of the interest and property taxes from your income tax!
 
H

Heretic

Guest
Hmm just how does one figure out what they can afford, I guess maybe I am being way too conservative in my calculations.

A woman I work with makes half what I do yet she just paid $150k for a house.
 

Sierra39

Hairball Magnet
Your mortgage payment can be in the 30-50% range of your take-home pay...depending on your other monthly expenses...

Or you can triple your annual gross wages to get the most you should spend on a house...(i.e. $50,000 year = $150,000 house) Anyway, my ex was a realtor and that's how he roughly figures it...
 

watercolor

yeah yeah
Starbuck....manufactured homes are completly different from what you are thinking in the sense of a 'controled enviornment' those are modulars not manufactured. Manufactured homes are double wides and tripple wides, and modular homes are the same as stick built that are in the controlled enviornment. The manufactured homes are a on steel bars, and modulars are on a real concrete foundation like a stick built is.

I am just saying, I just know that so many people are told that manufactured homes are the same as modulars, and you can not even being to know how wrong that is. We see so many disasters with that where I work. *sigh* But just like I said...if you wanna come up Heretic... I will let them know you are coming. Just let me know when!
 
H

Heretic

Guest
SO who here is or works for a realator? Which one, location, phone. I may come by or call to get some info and an idea of what is out there for me that I can afford.

MY ideal place is a bit out of the way like in the woods south of the base (not necessarly south of the base though), has a garage, does NOT have electric heat (too expensive), and has city water and sewer (I dont want to clean out a septic tank).

Oh yea and Id like a yard to mow and trees to prune etc. A barn would be awesome. But now Im getting into much more money.
 

watercolor

yeah yeah
Im the one that does Hertic...

but I am not allowed to post on here about it anymore...I got my hand slapped saying I was trying to sell something....so if you have any questions pm me
 
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