Everything You Should Know Before You Purchase a Mobile Home
There is a widespread misconception that mobile homes are of low quality. However, mobile homes are great and afford everyone an opportunity to own a property without having to break the bank. Therefore, it is not surprising that they are becoming increasingly popular in recent times. They come in variations and are carefully manufactured to give owners everything they desire from a home.
If you are looking to buy a mobile home, below are some of the fundamental things to know.
There are Several Kinds of Mobile Homes
While the trendy style of mobile homes might be the single level family homes, it is worth noting that there are several types and styles of mobile homes. Tiny houses are made in an attempt to utilize every available space optimally.
Mobile homes also come in multi-level homes, which are less portable. There are other models of mobile homes that come on wheels and can be transported easily from one location to the other.
The Cost of Mobile Homes Vary
If you have ever visited a company or individual that is considering selling a mobile home, then you probably know that the cost of mobile home varies depending on a couple of factors. According to a study by Forbes, a tiny house costs around $23,000 on the average, with single story mobile homes costing about $64,000. Therefore, it is essential to know the kind of house one wants even before beginning the search.
Other factors that affect the total cost of the home include the hookup costs for electricity, plumbing, and gas. It is also important to consider these costs as you plan to purchase a mobile home.
Quality is an important factor
Not all manufactured homes are created equally. Choosing the wrong provider or manufacturer could lead to severe issues. Therefore, it is essential to consider the manufacturer before purchasing a mobile home carefully.
The quality of a mobile home is highly dependent on the manufacturer. Look for quality materials, designs, and reputable reviews in your chosen manufacturer.
Manufactured or Prefabricated Homes Are Amazing
Manufactured homes come in fantastic styles that will captivate anyone. These homes do not only cost less but are also easier and faster to put up as compared to traditional houses. Mobile homes can also be installed by the buyer if he or she has the requisite tools and skills. This is so as the pieces are already put together and only require the installer to put them together.
Location Is Important
It is not enough to have a well-crafted, gorgeous, fabulous mobile home. Considering the location of the house is crucial. The site should be central to your needs, which is also functional and gives you all you are looking for.
It is worth noting that needs are relative. While some people choose mobile parks to have a neighborhood feel, others prefer a more isolated location where they can enjoy their privacy. Each choice comes with its pros and cons. Therefore, it is advised that you consider each of the options carefully before taking a decision.
Getting a Loan Can Be Tricky
Mortgages are usually obtained from banks or other such home loans providers. However, most mobile homes do not qualify under many mortgage programs. This means that buyers of mobile homes need to either go through an official mobile home company specializing in financing or go through a credit union that has a program specifically for mobile homes.
Mortgage companies usually avoid financing mobile homes as there is less profit involved compared to traditional houses.
Retail Cost vs. Invoice Cost
Once you have been able to identify the kind of mobile home you want and the most suitable location, the next step is to visit a reputable dealer. It is essential to ask as many questions from your dealer as possible, especially when it comes to cost.
Ensure that you ask for the invoice cost of the home. If this is not provided, it best to go to another dealer, as this could be a sign that you are about to be cheated. You also want to avoid telling them your budget or the amount you can afford monthly. All you require from your dealer is the flat invoice prices for the model you want.
Mobile homes are great, and they give people the opportunity to own homes easily. However, it advised that you tread carefully to avoid being cheated.