Does anyone live in a manufactured (mobile home)?

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I just got approved for my mobile home mortgage loan today. The home is beautiful, manufacturer is Clayton, now I have people coming out of the woodwork telling me these homes are no good and they will fall apart in 15 years, and my mortgage is for 25 years. I live in a double wide now that has been sitting here since the seventies, of course it has been added on to, has vinyl siding and the siding is rock. I am scared to death now to go sign on the deal. Can anyone who lives in a double wide tell me if they are really this bad and what brands are the best? They will be moving this home to my land if that makes a difference.

  1. Reply
    May 2, 2011 at 12:04 am

    I don’t live in one, but we’re in the process of looking for a house. There are TONS of double wides on the market. If you need to sell, you won’t. It’s going to sit there for a long long time.

  2. Reply
    May 2, 2011 at 12:47 am

    I grew up in one, the roof leaked and it was hard to heat. But it was affordable for my mother and it was HOME. I loved the trailer and might consider buying one if I had my own land & that’s all I could afford…I wouldn’t live in another trailer park…the yards are too small for my taste.

    If you’re looking to sell down the line a mobile wouldn’t be a wise choice because they do depreciate quickly, but my Aunt & Uncle have had theirs for 33 years and it’s holding up very well. They bought it as a forever home, so have put work into it to keep it nice, it looks like a house from the outside, and they added a full basement.

    I can’t vouch for certain brands.

    If I was planning on selling in the future I’d probably go for a pre-fab house. They make them in factories and then ship them in pieces to your land and put the pieces together, and add the siding. You can choose, vinyl, brick, etc. It’s an actual house…and since it’s factory made the inside of the walls haven’t been exposed to the elements and it’s cheaper than building from the ground up.

  3. Reply
    Mary B
    May 2, 2011 at 1:28 am

    Trailers depreciate like a car, the only value is in the land.

    It’s not that the place won’t hold up for 25 years, it’s just that in 25 years, instead of having a place that you can relax in and know it’s paid for, you’ll be getting another loan to replace the rusted heap.

    That is why they are horrible investments, but I understand that they my be necessary in some areas where housing is expensive and apartments are in scarce supply.

  4. Reply
    May 2, 2011 at 1:59 am

    I looked into manufactured homes a couple years ago. I went modular. As far as manufactured, Patriot and Redman (I think that was the name) impressed me most. Clayton seemed ok, but not as impressed.
    As far as lasting, they are much better than the used to be. I wouldn’t worry about that. I think alot has to do with the foundation and preparing the site.

    The downside is financing and insuring a manufactured home. In my area newer manufactured homes on permanent foundations seem to hold their own. Older ones go cheap.

    I would check for a couple year old one. Once you buy a new one it becomes used anyway. You might be able to save some $ $ that way.

  5. Reply
    May 2, 2011 at 2:58 am

    Manufacturing standards have changed. Newer manufactured homes are built to much better standards and, in fact, might even be better standards than some of the site built subdivision homes. If you properly maintain your manufactured home, you won’t have any more problems than site built homes.

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