Living in MH while building
We have recently bought 3 acres of unrestricted land. Once we sell our existing house, we will build a new house. The issue is where to live in the meantime. We can rent a 4 bedroom house in the area for $2000 to $3000 a month and will likely have to sign a 1 year lease to get the lower amount.
We are considering buying a used doublewide and putting it on our land while we build our house. The advantages we see:
1. Cost -- I looked at some listings and found used manufactured homes in the $25,000 range. We would pay cash so it would be fairly much equal to paying rent for a year. Once our house was built we would try to sell it but even if we couldn't we would not be out that much more than renting.
2. We would be on our land and could oversee the construction much better than if we were renting elsewhere...even somewhere close. This is a huge advantage to us.
3. We have pets that we could have with us if we bought the doublewide. This might be more difficult if we were renting.
So...what negatives to this idea am I missing? I can think of a few...
1. Cost to move and set up the home would certainly be a few thousand I would guess.
2. To a certain extent I don't care if the doublewide has long lasting quality. It is truly disposable housing for us. But, it would need to be clean and safe to live in for a year. Can that be gotten for the price range we are talking about?
3. The timing may be difficult. We don't yet have septic or well on the property. We can't put it on now because (1) we don't have the cash and (2) if we do work on the property now and then sell our existing house quickly...doing the work could cause a daily in getting a construction loan (as bank won't give us money until time for some to file any lien has passed). So the plan would be to sell our existing house ...in the meantime working on designing plans for the house we will bid. Once the house is sold, immediately apply for construction loan, then get the septic and well put in. The problem is that while that is happening we can't live on the property so we have to stay in a hotel or something. If we could do this (get the septic permit, and put in septic and well) within one month then that would be OK. But, if that took 2 or 3 months then maybe we are better off just renting a house instead....