I'm currently looking to buy a home or modular/manu. The mobile homes are in a reputable community where you don't own the land but the homes hold their value. I don't have much for a down payment on a house (which where i live average is 100k-150k) but i do for a modular/manu home. I know most people have tried to steer me away from the community but i feel like its a good way to dip into real estate and after i sell my mod/manu ill have more money to put down on an actual stick built home on its own land. Just wanted opinions on the matter before i go to banks looking for loans. (i do know that loans for the mod/manu will be more difficult to get than a stick built on property) however they may be more difficult this park is almost always full and they have brand new never lived in for 60-80k. I only plan on doing a 10-15 year mortgage with normal payments and principle payments most months. I just figured most people buy starter homes for their first home with no intent on living in their first home forever and my credit score now is pretty good and paying a mod/manu off in 10-15y will only make it better. Thoughts?
Read more: Manufactured/modular homes vs Stick built for first time home buyer with not much money down
