Rental Property Investor · Rochester, NY · Member since 2018 · 69 posts · 33 votes
I am looking to buy my first home to move into with the plan to move out and rent it in a few years. When I was looking at houses on the MLS, I came across some manufactured homes that looked in really good condition and where a good price even with the lot fee. Would this be a mistake in the long term because these houses normally depreciate with time? Also, are there any other things I should know that are different about manufactured homes from a traditional house?
If it looks like it’s been brought in on a truck it’s going to not appreciate as good as a stick built . Lenders are strict about these homes and they fall under various categories these days . Do your homework
@Logan Graham One of the biggest issues you'll run into is with financing. Renters likely won't care if it's a manufactured home or a traditional home if they're in equal condition and location, but lenders do. This is important for you on the front-end, but also important when you go to sell the property. It will be more difficult to sell if/when you decide to.