Thinking About Buying a Manufactured Home (aka Mobile Home)?

With a housing crisis that only keeps rising, some may be considering buying a manufactured home instead of a traditional home. While manufactured homes, commonly called “mobile homes,” face common misconceptions about their quality and structural integrity, they are, in fact, an excellent choice for first-time homeowners.

Manufactured Home Cost Savings

A few reasons manufactured homes will always be cheaper than site-built homes are a few reasons:

• Efficient Construction: Homes are made efficiently with production lines, robotics, and indoor production, taking weather out of the equation.
• Less Waste: Factory-built houses utilize excess construction materials in other homes (which also make them better for the environment).
• Bulk Materials: Quality materials are purchased in bulk, passing the savings on to you.

Not only are they cheaper, they are built to last. They’re held to strict, federally mandated building codes and inspections.

Now that we’ve convinced you, or at least convinced you to think about it, here are some key considerations and tips on your manufactured home-buying journey.

Financing Options

One of the key concerns for potential manufactured home buyers is the financing process. Buyers typically have several financing options, including chattel, land-home, and FHA loans. If buyers already own the land where they plan to place the home, they may be able to secure a conventional loan right away. Otherwise, starting with a chattel loan and considering refinancing later could be a viable option.

Tip: Buyers should improve their credit score and make timely payments. This will position them well for refinancing when interest rates drop.

Managing Repairs and Maintenance

If buyers place their new home in a park, they should be prepared for potential maintenance and repairs. While manufactured homes typically come with warranties, these may not cover all issues, and buyers might face delays when dealing with repairs. Common maintenance tasks include checking for leaks, ensuring proper water system functionality, and maintaining the pad or foundation.

Tip: Try to avoid placing a home in a park if possible. Owning land offers more control and fewer ongoing expenses.

Timeline for Home Delivery

The timeframe for building and delivering a manufactured home can vary. Generally, buyers can expect 4 to 8 weeks, although this can extend up to 6 months if the factory is particularly busy.

Tip: Managing expectations and being patient with the process can help avoid rushed or problematic deliveries.

Finding the Right Land

For those purchasing a manufactured home with land, our dealerships collaborate with realtors to help buyers find suitable property. It’s advisable to explore these options before undertaking a personal land search.

Tip: Before you research land options yourself, you can schedule a visit with one of our nationwide dealerships, and we can help walk you through the process.

Cost Considerations

Moving and setting up a home involves various factors, including the type of home and local regulations. Costs can vary widely, so it’s best when buying to obtain specific quotes based on their situation.