I have a very unique American Dream that many think I’m crazy or trashy for considering and yet it’s so appealing to me because of no 30 year mortgage, character in a home I actually cherish or admire and being a DIYer can renovate without taking loans out …
I want to buy an older 80s/90s manufactured home (they are NOT trailer houses) and I love this concept and have for as long as I could remember.
I grew up in a beautiful double wide built in 1984 and it was a solid home and had so much character as did my aunts double wide built in 1985. The layouts and floor plans were more unique, it had features you can’t even buy in a home now days without spending over $200k and some of these characteristics were simply standard for the time and so I personally really want this for my forever home and even recently found a 1983 model doublewide that was in immaculate condition for such a low price it was incredible! Problem is you can’t get financing if it’s not considered real property or attached to the land and I’m obviously going to be looking for a dw that needs to be moved on unrestricted land I would need to purchase, in TX at least you won’t find a lender that will finance either if the home has been moved more than 3 times, and plus my credit is still rebuilding after a divorce. I feel like the only way to find such a home would take me forever to save up for and still would need a loan for land development and utilities.
I know this is a unique approach to actually desire only an older manufactured home but the mortgage industry won’t glance at them not that I’ve found anyways if you’re wanting to buy a used older home to move into private land and place on a permanent foundation.
What would you do if this is what you wanted where it’s like no market for it unless you have some kind of inheritance or lottery winnings to afford.
Yes, it would be easier to just go and buy a newer or even a stick built home but I don’t want that. Any suggestions or opinions what you would do I would love to hear!
Please respect this IS my American dream and not a desperate move for a home needing repairs and half ass renovations. It’s what would make me happy.
Thanks to all of you in advance, I’m excited to hear what you might comment, maybe there might be a creative point of view I’m missing