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The Advice Guru
Posts: 6419
  
| I would say 2
Reason being is you were renting and still have not saved money to buy. If you continue to rent, you are in the same circle.
2 has a barn that you can probably upgrade over the years to increase value. The grass you say isn't that great, but with a little work and fertilizer you can increase production. (We work up our pastures every 5-10 yrs and underseed to oats to get nitrogen back in the ground and keep horses off for a season).
Also if you buy even if you do not sell it for more money if you choose, you should be able to sell it for the same, then you really haven't lost any, if you continue to rent you are just paying someone else's mortgage and no benefit to you.
If no 2 is closer for you to work, you will also save money just in commuting expenses |
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 I Don't Brag
Posts: 6960
 
| Do you LIKE the prefab home? THAT would be a dealbreaker if I didn't like it.
We finally put a "double wide" on our place after years of looking. I am glad that we waited. It feels like a house to me and many are surprised when they find out it is a prefab. We considered resale difficulties and value but went ahead because we liked it (the layout and quality) and figured we would worry about resale if the time ever came. As far as value, we paid 52K for it almost 16 years ago and our insurance company keeps raising the insured value of it. I think last year it came in around 90K. I can only hope that we will never have to find out what they would actually cover it for. It still feels new to me and does not have that "mobile home" feel.
Personally I do not care for the idea of renting in a long term, stable situation. Seems like a waste of money to me. But then again, don't buy something you don't like!
Edited to add: Ran these choices by hubby and he asked where #2 is, in case you don't buy it....he might be interested. :o)
Edited by rodeoveteran 2014-12-29 4:03 PM
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 Party Girl
Posts: 12293
Location: Buffalo, Wyoming | rodeoveteran - 2014-12-29 2:58 PM Do you LIKE the prefab home? THAT would be a dealbreaker if I didn't like it. We finally put a "double wide" on our place after years of looking. I am glad that we waited. It feels like a house to me and many are surprised when they find out it is a prefab. We considered resale difficulties and value but went ahead because we liked it (the layout and quality) and figured we would worry about resale if the time ever came. As far as value, we paid 52K for it almost 16 years ago and our insurance company keeps raising the insured value of it. I think last year it came in around 90K. I can only hope that we will never have to find out what they would actually cover it for. It still feels new to me and does not have that "mobile home" feel. Personally I do not care for the idea of renting in a long term, stable situation. Seems like a waste of money to me. But then again, don't buy something you don't like! Edited to add: Ran these choices by hubby and he asked where #2 is, in case you don't buy it....he might be interested. :o)
I do not mind pre-fabs at all and the one we are looking at seems to be in pretty good shape. My mom has lived in one for at least 15 years.
If it was just my choice I would buy a bunch of land and stick a single/double wide or pre-fab on it.
We are in Northeast Wyoming if he wants to come take a look! :)
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 Own It and Move On
Location: The edge of no where | Keep in mind that if you're looking at something you might sell in a couple of years... you'll need to make enough off of it to cover closing costs on the deal. |
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 Serious Snap Trapper
Posts: 4275
Location: In The Snow, AZ | I was just thinking how cheap 15 acres sounded.... I did some research and 15 acres here, no home, out by the indian reservation, goes for approx. $600,000. I guess that's why I'd jump on it. Our old house on 3 acres is worth around $250K. Just goes to show how extreme of a difference home value is. |
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 Tried and True
Posts: 21185
Location: Where I am happiest | cheryl makofka - 2014-12-29 3:55 PM I would say 2 Reason being is you were renting and still have not saved money to buy. If you continue to rent, you are in the same circle. 2 has a barn that you can probably upgrade over the years to increase value. The grass you say isn't that great, but with a little work and fertilizer you can increase production. (We work up our pastures every 5-10 yrs and underseed to oats to get nitrogen back in the ground and keep horses off for a season). Also if you buy even if you do not sell it for more money if you choose, you should be able to sell it for the same, then you really haven't lost any, if you continue to rent you are just paying someone else's mortgage and no benefit to you. If no 2 is closer for you to work, you will also save money just in commuting expenses
These are the exact reasons why I voted #2 as well. |
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 Undercover Amish Mafia Member
Posts: 9992
Location: Kansas | #3 |
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I keep my change in my pockets
Posts: 2985
Location: MN | #3 and get serious about saving money for your ideal place and not just settling for a place because of the 90 days and you have to move. Maybe you can put do e serious money away in one yo two years to be able to get a place you really want. |
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 Veteran
Posts: 164
| You need to talk to your realtor about #2 because pictures and listings can be very deceiving. That's what I'd go with though. Seems like a good deal. Go see it before stressing about it more. Buying is always better than throwing your money away at rent. Also, you probably won't lost money on the deal. But, if you do, it's not like you wouldn't lose money renting the place. So either way I feel you come on top because you are living somewhere nicer and more convenient. And you don't have to worry about the friendship thing. Also, pre-fab can mean a lot of things. Are we talking a manufactured double wide or are we talking about a house that you order a floor plan and is normal frame built but theres just some specific floor plans the company makes, all the wood comes pre-cut, etc.
Edited by HannahRodeoCowgirl 2014-12-30 12:07 PM
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | Well options 1 & 2 are off our list. The pre-fab is under contract so I guess we are back to the drawing board.
Thank you everyone for your helpful information. |
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