Important Factors to Consider When Buying a Mobile Home
RH Business Marketing Solutions
If you are shopping for your first home, you may consider mobile homes as they offer several benefits. Indeed, the main reason to opt for a mobile home is that it’s far more affordable than the typical single-family home. Also, it often incorporates communal places, such as playgrounds, clubhouses, and swimming pools. However, it is worth noting that searching for a perfect mobile home is different from buying other homes but understanding the involved process will assist you in determining whether it’s a suitable option.
Learn About the Types of Mobile Home Sizes
One of the leading misunderstandings about mobile homes is that they are tiny. However, this is false. A mobile home can be categorized into three types: Single-wide, double-wide, and multi-wide. Each type denotes the sections to be delivered. As a result, home constructors build homes in areas to follow the transportation safety regulations. After buying a mobile home, the living space’s entire square footage matches the number of sections transported and installed. Here are the main mobile home size specifications.
● Single-wide: It ranges between 500 and 1,200 square feet
● Double-wide: It ranges between 1,000 and 2,200 square feet
● Multi-or Triple-Wide: Its size is more than 2,000 square feet
As a mobile home buyer, you have the option to buy the preferred space and layout.
Delivery and Installation
You cannot transport a mobile home and set it up on ground softened by thawing snow or rain. Instead, the delivery should only happen when the ground is completely dry and stable enough. The chosen setup contractor will determine when the ground is ready for installation. You will need to factor in pre-delivery expenses, such as soil compaction, sloping, and foundation preparation. If you are buying a new mobile home and wish to dispose of your old one, you can always search your area for free mobile home removal options to transport your outdated or unwanted mobile home for free.
Location
According to BBC News, about 20 million US citizens live in mobile homes. Approximately more than half of these mobile homes are situated in areas where the owners pay a monthly leasing fee. When identifying the perfect location to position your mobile home, you have two options: Your land or someone else’s land.
If you own a parcel of land that suits a homesite, consider it a suitable area for installing a mobile home. Even if the land has a mortgage, it might still be a perfect option. You should level the land if no house has ever been erected. Also, there is the option of buying your property if you presently don’t have a suitable parcel. This way, you have total control over your land and its expenses.
Financing Options
The two major ways to finance a mobile home are through a mortgage or personal property loan. However, most mortgage terms require a mobile home to have a permanent foundation. Still, government-backed loans necessitate mobile homes to be original sets, meaning you shouldn’t relocate them from their initial foundation. What’s more, most mortgages also need you to own the land or buy the lot concurrently. Opting for a personal property loan, such as the chattel option, means you can buy a mobile home even if it’s not permanently attached to the land. The best thing about using personal property loans to finance mobile homes is that you can relocate your home without violating the agreement terms.
The Insurance
Like a typical home, you will need to look out for a mobile home insurance policy to secure your home and its valuables. If you are financing the home via a loan, the lender will undoubtedly require you to insure the house. Most communities necessitate residents to ensure their houses. Luckily, countless insurance companies offer mobile home insurance, making finding the best rate that suits your price and needs easier.
Perform a Careful Examination
The state and local regulations concerning mobile homes may be a little different than traditional homes. Besides considering the local housing guidelines, it is worth considering whether private land needs a link to municipal water, sewer, and other utilities. Also, building inspections differ between states.
Conclusion
Purchasing a mobile home is more affordable than buying a traditional home. However, there are crucial differences in the process, mainly regarding insurance, site selection, and financing. Now that you know the things to consider when buying a mobile home, you can confidently buy one.
Guest Contributor: Regina Thomas