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So let me set the scene here:
Wife and I bought some land 4 years ago and have just been full time RVing out there. Its been nice but we are done being cramped. With covid, then the cost of materials being ridiculous, we have put of building but are to the point we just cant stand it. Honestly, I've been waiting for the economy to crash again so we can get it done much cheaper, but we are tired.
So now here we are with builders a year or more out, having trouble finding crews, one thing after another. My wife talks me into stopping into Oak Creek Homes because they had some that looked nice. I have been against a mobile home because i lived in one when i was a kid and it was a big POS. But after looking inside outside and all around this thing, it was actually built solid. Materials are great, fixtures and appliances are high quality. Set up on a foundation or at least on runners, i could see this was not the mobile homes of 30 years ago. We get the manager to add some specs that we wanted like no carpet, fireplace, sliding glass rear door, and some other things. We come up to a price that we were OK with and get going on paperwork.
We get the financing approvals back. I'm looking through everything and the payments don't seem right. After talking with the manager again(who is a friend, btw), she assures us that is right. The total for the house was right around $200,000 including the septic, hookups, foundation and everything. That's high for a mobile home, i know, but it is a well built house and we can have it in 4-5 weeks. But here is the part that told me to hold up: The total cost of the load over 20 years was $450,000. I asked "we are paying $250,000 in interest???" She says yep, that is common these days.
So is she right? This seems so ridiculous to me. I bought a house in 2005 and sold it in 2016 and this was not the case...
Wife and I bought some land 4 years ago and have just been full time RVing out there. Its been nice but we are done being cramped. With covid, then the cost of materials being ridiculous, we have put of building but are to the point we just cant stand it. Honestly, I've been waiting for the economy to crash again so we can get it done much cheaper, but we are tired.
So now here we are with builders a year or more out, having trouble finding crews, one thing after another. My wife talks me into stopping into Oak Creek Homes because they had some that looked nice. I have been against a mobile home because i lived in one when i was a kid and it was a big POS. But after looking inside outside and all around this thing, it was actually built solid. Materials are great, fixtures and appliances are high quality. Set up on a foundation or at least on runners, i could see this was not the mobile homes of 30 years ago. We get the manager to add some specs that we wanted like no carpet, fireplace, sliding glass rear door, and some other things. We come up to a price that we were OK with and get going on paperwork.
We get the financing approvals back. I'm looking through everything and the payments don't seem right. After talking with the manager again(who is a friend, btw), she assures us that is right. The total for the house was right around $200,000 including the septic, hookups, foundation and everything. That's high for a mobile home, i know, but it is a well built house and we can have it in 4-5 weeks. But here is the part that told me to hold up: The total cost of the load over 20 years was $450,000. I asked "we are paying $250,000 in interest???" She says yep, that is common these days.
So is she right? This seems so ridiculous to me. I bought a house in 2005 and sold it in 2016 and this was not the case...
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