Buying a mobile home, like buying any home, can be a simultaneously daunting and exciting experience. There are hundreds of benefits of choosing to buy a mobile home: you get much more space for your money and typically get much more amenities than you could afford in a site built family home too. Buying a mobile home, however, is very different from buying a traditional home. The financial process involved in buying a mobile home is a little more complicated too. Here are just some of the things you should know before you buy your first mobile home:

Embrace Your Freedom

Because there are so many different types and configurations of mobile homes, you are in a position to embrace this freedom and opt for a home layout that will work best for you and your famiy: unlike when buying a traditional family home, there is no need to compromise on space and layout when selecting a mobile home. You can choose anything from a single section to a huge multi section layout, depending on the size of your family, and of course the size of the piece of land you have to place your mobile home on. Not sure whether you’ll need a single wide or a double wide unit? Single-wide mobile homes have a narrower frame than double wides. Once inside you’ll notice that the rooms are usually connected to each other rather than separated by entryways and hallways. My contrast if you opt for a double-wide mobile home, the width is much bigger: roughly equal to two single-wide units attached to each other. This allows the mobile home to look and be laid out more like a standard single-family residence.

Related: Avoiding Issues During a Manufactured Home Purchase

Location, Location, Location

There is another step involved in purchasing a mobile home that you generally don’t have to consider when buying a traditional home: as well as buying the property itself, you also have to purchase or arrange to let the land that the mobile home will sit on. Depending on where you are choosing to purchase your mobile home, you will find that there are typically two options when it comes to land placement; in rural areas you may well be sold your mobile home and the land it sits on as part of a package, meaning that you will own both outright. In more suburban areas you will own your own mobile home, but may well have to rent a lot in a mobile home park in order to place your home in an established community.

Related: How to Buy a Mobile Home with Bad Credit

Time to Talk Money

Once you’ve found or chosen the mobile home of your dreams, it’s time to discuss how you are going to pay for it. If you are looking at purchasing a single wide home then generally larger home loan lenders will not offer financing for the purchase of the property. You may have to look at alternative finance options instead, such as discussing your payment options with your mobile home sales company. It is possible to gain a traditional home loan for a double wide, however, the terms and rules will decide on the kind of home loan you choose. As a general rule, it isn’t possible to find a loan for a mobile home that is more than 15 years old. As well as looking at the money you will need to actually purchase your property when making your budget you should also account for the other aspects of home ownership. You should ensure, for example, that you have the right kind of cover, which will be very different from traditional home insurance. Before you purchase your insurance policy you should check that it will cover all of the possessions within your mobile home as well as well as for the mobile property itself.

Related: The Insider’s Guide to Manufactured Home Dealers

Buying your first mobile home can daunting, but it is also a very exciting time. Planning ahead and ensuring that you research the process before you begin is one of the very best ways of ensuring that the process to buy a mobile home will run as smoothly as possible.

Related: Mobile Homes Can Appreciate

This is a freelance article from Gemma Hibbert. Thank you so much for reading Mobile and Manufactured Home Living!

1 thought on “What You Need to Know Before You Buy a Mobile Home”

  1. I am trying to find information on the costs associated with communities. From what I have found, it appears to be similar to a HOA monthly fee. While I understand the purpose of the fees, what exactly are the pros and cons of paying rent versus buying the land?

    I am glad to find this site. I just discovered it today while looking for more information. I look forward to coming back to review the info you have available. Thanks.

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