Mobile homes are becoming more appealing to prospective homeowners. It’s not a surprise considering the benefits you can get from it. Mobile homes are more affordable than conventional builds. These structures are also a far cry from what people imagined them to be in the 1980s. They come in a wider variety of designs. Buyers also have more choices when it comes to size, shape, and features.
Does the thought of buying a manufactured home appeal to you? That’s great. But you need to think things through. You don’t want to have buyer’s remorse later on. It’s why you must make sure you’re ready for this move. Here are some questions you should ask yourself before you buy a mobile home.
Where Will I Live?
The location is the first thing you should consider. One of the best things about a mobile home is you can live anywhere. You can opt to join a mobile home park. You could buy or lease land and install your home there.
You should also make sure it’s a place you would enjoy living in. Consider if the area has amenities like groceries or public transportation. Observe the neighborhood. Is it quiet and secure? Do you have access to green spaces?
Do I Have the Budget for This?
Budget is also a key consideration. It always is when it comes to housing. You must have the means to pay for any housing loans. There’s also the installation and maintenance to consider. There are short and long-term costs associated with buying a manufactured home. It’s like buying a condo unit or a bungalow.
It’s a given that you should establish your budget before you buy a mobile home. But budgeting should go beyond the price of the structure. You also have to factor in costs like property taxes and insurance. You might need to ask for help from a financial advisor with this one.
How Big Can We Go?
Size also matters when it comes to mobile homes. Some homeowners are happy with an average-sized home. Others want something more spacious. The good news is that manufactured homes come in different sizes. You have your single-wide and double-wide. The largest option is the triple-wide.
It’s tempting to go with the triple size. After all, more space often means comfort and ease. It also makes it easier to place the features you want. But a bigger home is also more expensive. It’s better to think about the features that you need. Make a list of non-negotiable and nice-to-have features. This will help you visualize how much space you need. It also ensures you won’t spend more than you have to.
Can I Get Financing?
You can get financing for a mobile home. Fannie Mae and Freddie Mac do have loans for those who want to buy a mobile home. You have the option to apply for an MH Advantage or Standard MH loan with Fannie Mae. The former is for manufactured homes that are akin to site-built structures.
You can also apply for a government-supported loan. If you’re a VA member, you can apply for a manufactured home loan. It requires the structure to have a permanent foundation. It should also become installed on land the borrower owns. There are also FHA and USDA loans for mobile homes. You can use these loans to buy a mobile home only or one that comes with a leased lot.
Can I Take Care of It?
Manufactured homes also need regular maintenance. You have to check it for damages and wear and tear. You also have to be on the lookout for cracks in the exterior walls or signs of mold. You also need to make sure your home is well-ventilated and insulated. There’s also the regular cleaning to do. Anything you would do for a conventional home, you’ll do for a mobile home. Giving it the proper care and maintenance means your home will remain in great shape for years.
Live Your Best Life
You can live your best life in a mobile home. Especially one that comes from Live Mobile Now. We’re one of the top listing service companies in the Sunshine State. We have a wide range of high-quality mobile homes for sale. Browse through our website to see what we mean. We also offer mobile homes for rent. Our team of experienced agents will help you every step of the way. Give us a ring at +1-877-221-4040 or message us here.