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My cousin purchased a manufacture home from the factory and the build quality was exceptional. Lots of 2” x 6” in the construction. We have a neighbor that put one up in the city limits a block from the beach and we have 140 MPH requirements for construction and his manufactured home met all the code requirements.
I agree. But, the manufactured house in question was built in 1960 with few of the requirements of ones built today.
It's a manufactured house with a brick chimney built on a slab & partial basement which includes an oil furnace. It's not considered a "trailer" except in the pejorative context. As for qualifying for a mortgage, it would be appraised like any other house in Rhode Island. The buyers have 12 months replace the cesspool. And indeed, the mandatory replacement is customarily built in & part of the negotiations of sale.
While usually not the best option, given the choice, I'd rather have a good manufactured house than some of the shabby construction built in the late 60s & 70s in RI.
In my eyes, a manufactured house from that era is essentially a mobile home dropped on a slab. Pretty much all of the same complications. What are the real differences? I imagine financing must still be tricky.
I don't see it as a mfd. home at all; more likely an old shed that was added on to a few times by a talented handyman/carpenter and it looks like it has been maintained. But not $190K worth. Manufactured homes per se weren't even around, especially in the northeast, in the 50's 60's and the term wasn't even 'invented'. Honestly I believe that the OP should move on and find something more 'normal' for that price. Or make a low offer, pay cash if they can, put in a real septic system, and don't be concerned about an appraisal/ mortgage/bank etc.
Since true mfd. homes are everywhere in the country (normally not in the northern cold climates), and are popular and many having been built in FL areas for many years. Some, you can't tell from stick built and they are well insulated.
I'm sure the OP has been looking!! She has a very low budget to get something and she has picked an area she wants. She's not going to be buying in Barrington on this $$.
That she could pay cash is rather remote for someone looking for a first house, but we have only what she's posted to go on.
$190k gets almost nothing in this market. If she could get a cesspool replacement along with a low offer, it would probably work for her- that's all I'm saying.
I am not a Rhode Island resident nor an expert on RI real estate, but I see real estate in RI for the most part has either come back from its 2010 lows to pre crash pricing or about to exceed it.
Now I am stating this as I am focusing on the $150 market and below.
For the last ten years we have been coming back to spend the summers in RI and this is the first summer we do not have a place to stay with family. Summer time is not the best time to try to find a short term rental
During the crash we were offered a relatives condo for 40k but the taxes and HOA would have put a dent in our monthly during the other 8 months of the year and this was before Air B and B. These same condos or similar in different locations are triple in price now.
I have been looking for the last year or better and the under $150k market in condos is hot and I see a lot under contract quickly.
I retire in less than three years and not sure what we will do. We would like to come back to RI for the summers to escape the heat (102 yesterday) but it does not make financial sense to buy with the direction taxes and other costs associated with living in RI.
I have seen those older trailers also in the older parks but not something I want to entertain!
Happy Memorial Day, wishing those that lost loved ones the best!
Good luck to you and the $150k condo! As you say, it hasn't been easy to establish a summer only residence here for years. You might consider just looking in some less than ideal location like North Providence, consider it a base of operations, and just driving to the coast.
Good luck to you and the $150k condo! As you say, it hasn't been easy to establish a summer only residence here for years. You might consider just looking in some less than ideal location like North Providence, consider it a base of operations, and just driving to the coast.
We live a block from the beach here so coastal is not important. Family currently resides in Warwick, Woonsocket, Lincoln and North Smithfield so anywhere reasonable is fine. We really just want to kick back and visit family and friends and escape the heat (101 here today).
I think $150k was easily doable five years ago but not now. It appears the increasing prices of homes in RI is turning many to the condo market as that market seems hot.
PS. The one offered to us was in North Providence near 44 so that would have been perfect. Hindsight is twenty, twenty.
I'm sure the OP has been looking!! She has a very low budget to get something and she has picked an area she wants. She's not going to be buying in Barrington on this $$.
That she could pay cash is rather remote for someone looking for a first house, but we have only what she's posted to go on.
$190k gets almost nothing in this market. If she could get a cesspool replacement along with a low offer, it would probably work for her- that's all I'm saying.
Understood, just saying that there is a good reason why this is priced so low. A LOT of people want what she wants, you just aren't going to find any steals on a good starter single-family especially in a better town. I would personally look for a condo/townhouse on her new budget.
In my eyes, a manufactured house from that era is essentially a mobile home dropped on a slab. Pretty much all of the same complications. What are the real differences? I imagine financing must still be tricky.
The difference may be a brick chimney and a partial basement containing an oil furnace. I don't think I've ever seen a mobile home with a brick chimney. However, mobile homes are not my expertise and stand corrected if both are commonplace.
Last edited by independent man; 05-27-2019 at 03:08 PM..
Thank you, everyone! I actually was not aware of the existence of manufactured houses! After reading your comments, I am no longer interested in the unit.
I think it would benefit me from your guidances better if you know more about my financial situation. I have 80k cash and very good credit. My ideal monthly housing expense would be less than 1.2k. Although I can afford more on housing monthly, I do not want to. At this stage of my life, I want to spend on travel, good food, and other fun experiences. I work in Smithfield. I am expecting a baby in a few months so I also target area with a good school system. I also target houses with high resale value in 3-5 years. (I know it seems too much asking for a small budget!) Most of all, I am no rush to buy and willing to wait for the market to slow down.
Moving on from the manufactured house, I am now looking at some cheapest single houses and here are some that caught my eyes. I was wondering you could give me your takes and whether or not it's overpriced also what would you buy if you are forced to.
This is a little bit out of line but I also interested in buying it with cash. I am not sure if it's overpriced. Thinking about making an offer of 55k, cash.
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Manufactured homes per se weren't even around, especially in the northeast, in the 50's 60's and the term wasn't even 'invented'. Honestly I believe that the OP should move on and find something more 'normal' for that price. Or make a low offer, pay cash if they can, put in a real septic system, and don't be concerned about an appraisal/ mortgage/bank etc. 
