Congratulations! You have made the decision to buy a home. But have you thought about getting a mobile home instead of a traditional ranch or a shared-walled condo or any other option out there? Mobile homes, more typically referred to as manufactured homes, are built in a factory and placed on a trailer chassis to allow them to be moved. They can be placed in a home park, on owned land or on leased land.
One of the many advantages manufactured homes offer is that they are often a lower-cost option to buying a traditionally built home. In this regard, manufactured homes can make homeownership easier to achieve.
These homes are built to high quality standards and requirements including heating and air conditioning systems, fire safety, plumbing, electrical systems, structural design, construction, energy efficiency and transportation. Today’s manufactured homes are also engineered for wind safety and energy efficiency based on geographic regions.
As the saying goes, less is more. Living simply has been scientifically proven to improve the mental well-being and overall health of those who adhere to this lifestyle. Since your manufactured home may be less spacious than a traditional home, there is less maintenance of the property and less landscaping. This means more time to enjoy other things in life.
Another advantage you might find with manufactured homes is flexibility. Since they are usually more affordable and only semi-permanent, if you own land, you can place a home on it now and move it in the future.
Finally, living in a manufactured home park can provide a sense of community.
Owners are able to have their own driveway and backyard but are still close enough to neighbors to fuel plenty of social interactions. Many communities offer social clubs, group activities and fitness amenities.
If all of the advantages have peaked your interest in purchasing a manufactured home, here are some factors to consider: Size--manufactured homes are typically classified as single, double or triple-wide in terms of their footprint. They start at about 15 feet wide and about 70 feet long and go up from there. Consider how much house you need.
New or Pre-Owned—pre-owned manufactured homes can be purchased at a significant discount to new ones, but it also means buyers need to be vigilant about ensuring that they’ve been well-maintained. Check floors for warping, windows for gaps, and the site for settling. Before buying a used manufactured home, consider the park rules. Financing—if you are not planning on buying your manufactured home outright, financing options will need to be reviewed. Manufactured homes are considered personal property since they are not attached to the land and can be moved. Those type of loans (personal property) usually come with higher interest rates and shorter terms than a traditional mortgage loan.
Be sure to compare interest rates and closing costs. Location—equally important is to consider where it’s going to be installed. Regardless if you own the land or not, there are rules and guidelines that need to be followed when placing a manufactured home on property, so be sure you understand the constraints for your situation. Customization—new build manufactured homes can come with a variety of options just like a traditionally built home. If you are wanting energy efficient features, interior upgrades or exterior aesthetics, be sure to consult the builder for choices and price variations.
In the end, manufactured homes are truly a great option for both your wallet and your preferences. Once you have made your purchase, be sure to include a call to your local insurance agency for the best possible coverage for your needs. We at California Southwestern Insurance Agency are here to help give you peace of mind knowing that your investment is covered. Give us a call today! Phone: (949) 588-8844