Buying a home can be expensive. However, if you want to buy a home that offers more space and amenities at an affordable price, mobile homes are a good option for you. A mobile home offers various advantages, such as shared spaces, flexibility, portability, etc.
Before buying a mobile home, here are a few things you should know.
What Is a Mobile Home, Exactly?
It is a house built off-site and then moved to a site or property. Mobile homes, otherwise manufactured homes, are either placed on purchased land or in a mobile home park.
Types of Mobile Homes
Mobile home comes in two types:
- Single-Wide Mobile Home
It is a compact home, built with a long, narrow frame. The interiors feature inter-connected rooms than rooms separated by hallways.
- Double-Wide Mobile Home
It is a spacious home, having twice as much space as a single-wide home. The inside of the house looks like a traditional single-family residence.
Some companies also build triple-wide mobile homes. Choose the home type depending on your requirements and budget. When buying a new mobile home, consider buying or renting land to place your home.
Consider Buying New or Used
Buying a new or used mobile home solely depends on your requirements. Inspect the used mobile home thoroughly before buying, as it may incur costly maintenance or repairs.
Advantages of Buying a Mobile Home
A mobile home provides substantial benefits:
- They cost less per square foot compared to stick-built homes, giving you more space for less money.
- They are more flexible and portable than a stick-built home. You can place a mobile home on the land you own and transport it to another site in the future.
- Since mobile homes are built in controlled environments, they can be consistently made to a high standard with fewer construction delays related to difficulty scheduling subcontractors or poor weather.
Disadvantages of Buying a Mobile Home
Disadvantages of a mobile home include:
However, this may not be a disadvantage, if the mobile home and land are sold together, similar to a stick built house
- A mobile home’s value depreciates fast after it leaves the market or becomes an outdated option.
- Since a mobile home is considered as your personal property, it can be expensive to finance. Personal property loans have shorter terms and higher interest rates than mortgage loans.
- If your mobile home is placed on a leased or rented space, you have to pay the required amount. If you are evicted, then you need to either sell or move your mobile home. It can be expensive to move it. Selling mobile homes can be tricky, especially if they are placed in a mobile home park.
- Since mobile homes are placed on a temporary foundation, they can be damaged during an earthquake, heavy wind, rain, or storm.
If you are looking to buy a mobile home, contact Worthy Home Inspections for a professional and unbiased inspection of your future home.