Introduction to Manufactured Homes.
If you are buying a new home, you may be considering buying a manufactured home or mobile home, these homes can be a great alternative to conventional stick built housing.
These homes offer a number of advantages, including affordability and convenience. However, there are also some important considerations to keep in mind before making your purchase.
For instance, manufactured homes may not appreciate in value as much as traditional homes, and they may be more difficult to finance. So, if you’re considering buying a manufactured home or mobile home, be sure to do your research and consider all of your options before making your final decision.
What is a Manufactured Home?
A manufactured home is a factory-built dwelling that is transported to its permanent site and affixed to a pier foundation. These homes are often referred to as mobile homes, although this term is no longer accurate, as most manufactured homes are now permanently affixed to their foundations.
Manufactured homes come in a wide range of sizes and styles, and they can be located in nearly any type of setting, from rural farmland to urban neighborhoods. While traditionally they have been less expensive than site-built homes, manufactured homes have become increasingly popular in recent years, due in part to their high quality construction and modern amenities.
Today, manufactured homes can offer buyers an attractive and affordable alternative to traditional site-built homes.
5 Things to consider when Buying a Manufactured Home
Location of the manufactured home
Manufactured homes can be placed on any piece of property that is zoned for residential mobile home use, but they must be installed on a pier and beam foundation. This means that the home cannot easily be moved once it is placed on the property.
The main choices are to install the home on piece of land or in a mobile home park.
Be sure to check with your local zoning board or planning commission to ensure that the property you are considering is zoned for manufactured homes. Once you have found a suitable location, you will need to have the land surveyed and the foundation installed.
The cost of the manufactured home.
These homes are typically much less expensive than site-built homes, but there are still a number of factors that can affect the price.
1: New manufactured home
2: Used manufactured home
3: The length and width
4: Number of units or floors
5: Wind zone
The size and style of the home, as well as the quality of construction, will all play a role in determining the final cost. In addition, the location of the home can also impact the price.
The third thing to consider
is the quality of the manufactured home. In recent years, the quality of these homes has greatly improved, but there are still some that are not up to par.
Be sure to inspect the home thoroughly before making a purchase, and be sure to ask about the warranty. Most manufactured homes come with a limited warranty, but it is always best to be safe than sorry.
Financing
These homes can be financed through a number of different channels, but the most common is through a bank or credit union.
Be sure to shop around for the best interest rate and terms before making a final decision. There are also a number of government programs that offer low-interest loans for manufactured homes, so be sure to check into those as well.
Insurance
These homes are typically covered by a standard homeowners policy, but there are some differences that you should be aware of.
Be sure to check with your insurance agent to see if there are any special requirements for insuring a manufactured home.
Insurance companies often need proof of an adequate tie down system built to resist strong wind forces such as hurricanes and tropical storms.
Mobile homes have an unfair reputation for being low quality or trashy.
That just isn’t true. A mobile home is a great way to get your own property, place it anywhere you choose and for less than many more stationary houses tend to cost.
Modern construction methods comparable with the standard building code are used in the factory assembly of manufactured homes.
There Are Many Kinds of Manufactured Homes
When most people think of mobile homes, they picture a small, boxy trailer that is towed behind a car. However, mobile homes come in a variety of sizes and styles. Some are quite large and luxurious, while others are more basic and economical.
There are also a number of different types of mobile homes, designed to meet the needs of different lifestyle. For example, park model homes are typically used as vacation homes or for permanent living in RV parks.
Larger trailers designed to be towed by a car or SUV are not the subject of this article.
The Cost of Mobile Homes Can Vary Wildly
With so many mobile home styles it probably won’t surprise you that these dwellings don’t come in a standard price range.
According to Forbes, the average cost of a tiny house is around $23,000. But the average cost of a single story mobile home is around $64,000. Multi-level manufactured homes can vary, but you can assume between $50 and $100 per square foot.
The varying prices is one reason that it is important to know what it is you are looking for in a home. You should also consider other costs that are associated with your house.
The land that you are building it on, for example, or the hook up costs for electricity, plumbing, gas, etc. These may not be built into the price and so require additional installation and fees.
Quality Is a Factor
Not all mobile homes are created equal. It is critical that you find a reputable dealer or construction crew to help you find the right mobile home. Using a mobile home broker is the best way to find good homes which are not obviously available to everyone.
You are looking for quality materials, designs and reputable reviews for who you work with. If you find all three you will wind up with a beautiful, sturdy home.
Manufactured or Prefabricated Homes Are Awesome
These style of houses are fantastic. Not only are they lower cost than from scratch models, but they are easier and faster to put up. A crew as small as two people can construct a manufactured or prefabricated mobile home, using pretty basic tools. Sometimes it can be done in as little as an afternoon.
That is because the pieces are already put together and ready to combine. They have been shipped from the factory with everything needed, to the location you specify. So the people putting it up just have to go through and hook all the parts, from the walls and foundation to the different compartmentalized rooms and features.
Getting a Loan Can Be Tricky
When you are getting a mortgage you go to a bank, right? Most mobile homes won’t qualify under mortgage programs. Instead you have to either go through an official mobile home company that specializes in financing, or you have to go through a credit union that has a loan specifically for this style of house.
The idea is that mobile homes are portable and many people mistake that to mean temporary. They are also lower cost, so there is less profit gained through interest rates. Many banks don’t see the point of funding them.
Thankfully, it isn’t hard to get a loan from one of these specified places. If you have an account with a credit union it is all the better, as that improves your odds of approval and they often have competitive rates.
Location Is Everything
You could have a gorgeous, well crafted, amazing mobile home. But if it is sitting on an ugly lot in the middle of a crowded area, what good it is? You want a location that is central to what you need, but still pretty, functional and offers you whatever you are looking for.
Some people choose mobile parks in order to have a neighborhood feel. Others choose more isolated locations where they can enjoy a plot of land.
Whatever works for you, location is a pretty important part of buying your mobile home. It is also a good chunk of what you will be paying for. Renting land is possible, such as in mobile parks. But buying your own ensures you have greater equity in your property. It is a sound investment, even if you plan on uprooting and moving somewhere else. Land is also cheaper than you might expect, depending on the area.
Conclusions on buying a manufactured Home
If you’re in the market for a manufactured home, be sure to call 863 808 2200. Our team of experts can help you find the perfect home for your family and budget. We have a wide selection of homes to choose from and we’ll work with you every step of the way to make sure you’re happy with your purchase.
Don’t wait, call us today 863 808 2200