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Old 10-26-2006, 05:21 PM   #1
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Default House Buying Question....... Opinions Needed

Alright here is the plan me and the fiance where thinking about last night and i think it seems reasonable. In the area i live in you can pick up some pretty decent land plots for a cheap amount. Both of us want a unique home to start out with but understand the cost in building the home. Want to build a log cabin in the country. So the idea is that we buy the land pay for a trailer/mobile home Put it on the land off to the side of where we would be building the cabin and eventually build the cabin.

So lets break this down..

Step 1. Buy Land
Step 2. Buy Trailer
Step 3. Build Garage........(yes i would have to build a huge garage)
Step 4. Build Log Cabin/House

Does this seem like smart way to go cause it has to be better then throwing away 4-8 Grand a year on rent.

Any input would be great thanks in advance.
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Old 10-26-2006, 05:24 PM   #2
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I think that would be a good plan, thats what my friend is doing. He bought a very expensive waterfront lot and put a trailer on it towards the front. He will be building a house close to the water in years to come, and will then rent out the trailer.
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Old 10-26-2006, 05:33 PM   #3
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Nice plan. Land is hard to get financed without buildings. The trailer is a nice temporary solution. I would get a "used" one to save money as they depreciate. I recommend a 12 bay garage so you have room for growth
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Old 10-26-2006, 06:21 PM   #4
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I have an uncle who builds Pole Barns so it will probally hold at least 6-8 cars But i plan on at least one area setup with a lift. See my thinkin is if i can get land add purchase of a used Trailer/with all setup at same time i should be able to pick it up fairly cheap or close to what im paying for rent right now.
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Old 10-26-2006, 06:30 PM   #5
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Great idea!!
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Old 10-26-2006, 07:33 PM   #6
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This is what I have considered for the last 3 years and wish I had done it. Would be a decent investment and while you do spend a little more initially on the trailer, it'll allow you to have nice things later and hopefully have the land paid off when it comes time to build the house.
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Old 10-26-2006, 07:55 PM   #7
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Yeah now i have to find out if i can do a home/land loan at the same time or if i have to do them individually. Im still gonna laugh when i have a hot tub on the back porch of my trailer until i get the new home built.
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Old 10-26-2006, 07:57 PM   #8
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Be sure to find out what the taxes are while the trailer is on the land. When the house is finished the taxes will go up and probably alot! Be sure you can put a trailer on the plot, whether you can or cannot dig a basement if you wanted one.

I know these sound like idiotic suggestions but a co-owrker of mine years ago, bought 10 acres with the same intent and afterwards found out it was zoned with a no permanent structures clause. (something about the 'woodland' habitat) go figure.
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Old 10-26-2006, 08:18 PM   #9
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Hmmm i wonder if they consider a trailer permanent structure lol. I guess i will make sure to investigate how the land is zoned before i do any serious talking. Wish there was a website for buying trailers. Like www.myhomehaswheels.com. Sorry im bored at work .
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Old 10-27-2006, 09:06 AM   #10
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Quote:
Originally Posted by trbomk3
Yeah now i have to find out if i can do a home/land loan at the same time or if i have to do them individually. Im still gonna laugh when i have a hot tub on the back porch of my trailer until i get the new home built.
Ooooooo.... gonna start with a Redneck Mansion, huh??

I grew up in a tariler home. In a trailer park, even. So as far as I know, yes, they are considered permanent structures. I woould imagine, though, that you'd have to live in it, not just use it cabin style.

Go talk to a Realtor. If you get a good one, they'll explain everything to you with no strings attached. Just don't sign anything. out Realtor told us about some he had worked with that wouldn't tell you anything without signing a contract to buy through them (which is illegal, by the way)
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