Newbie: purchasing a mobile home

[Levy Lanie]

Sorry if I’m posting to the wrong section, but this was the closest topic regarding mobile/manufactured homes!

 I am about to buy a pre-1976 manufactured home (700 sq ft) on permanent foundation. Cost is $61k which includes a .2 acre of land. The home is small and old but everything is working as far as water (public), septic tank, stove, electric, etc.

It does look outdated though (and in my opinion ugly), so I’m thinking of perhaps replace it with another used mobile home that’s in good condition and built at least in the 90s.

My plan is to live there and flip it after a year or so. What do I need to be aware of as far as “gotchas” and costs (do I need permits), etc.?

Or would it be preferable (and cheaper and faster) to just hire a contractor to renovate the old mobile home to HUD standards? Which is the better option?

[Robert E Bogino]

Keep in mind getting it to current HUD standards will still not make it qualify for traditional lending if you end goal is to sell it.  That means you will not be able to sell it to someone using a FHA, Conventional loan etc.  There are other options but you are limited.

Replacing it wit a new one is my current strategy.  As mentioned its not just the cost of the home but the move and set up as well. Dont forget the cost to demo existing home, pre HUD homes are illegal to move in some places.