General Article

Is It Cheaper To Buy A Mobile Home?

September 26, 2019

What Is A Mobile Home

A mobile home is also known as a manufactured home. A prefabricated home that can be moved around or transported is known as a mobile home. These types of homes are transported to a specific location and then used as permanent living quarters for a family or individual. These homes are usually found in rural areas or on trailer parks. Trailer parks are designated areas where mobile homes or manufactured homes owners can rent a space of land that their trailer can be placed on. The reason why mobile homeowners usually rent a space at a trailer park is that they do not have to worry about sewage and water hookups. The trailer park provides these specific amenities. In some cases, there are newer trailer parks where the plot and the new trailer or manufactured home is sold to the individual. A mobile home should not be confused with a travel trailer because they are not the same thing. They differ in size and they differ in furnishings on the inside.

The Two Different Types Of Mobile Homes

There are two different types of mobile homes that are currently available they are single wide and the double-wide. The single wide mobile home is more for a small family, a single individual, or just a couple. The double-wide mobile home is made for big families up to five people. A single wide mobile home is 18 ft or less in width and 90 feet or less in length. A double-wide mobile home is 20 ft or more in width and 90 ft or less in length as well. Mobile homes for sale can be a good investment but it is on a case-by-case basis. These are the determining factors a person should take into consideration if they should purchase a mobile home or not. Will your mortgage be lower than the current rent, will your mobile home be new, is the mobile home reasonably priced with reasonable financing options,  what are your financial goals, and how much will you be paying for the lot rent. When purchasing a mobile home you have to take all these things into consideration and do the research so you can make an informed decision.

Advantages Of Owning A Mobile Home

Mobile homes or manufactured homes are currently built of high-quality materials and in a factory. One advantage of buying a mobile home over a traditional home is the cost of course. Another advantage is that the individual may be able to receive financing much easier because the cost is much lower. Mobile homes give the owner flexibility for instance if you have land and you place your mobile home on the land you can remove the mobile home if you would like to build a house on the land. A mobile home can give you the option of buying a home sooner and making a home buying investment if you can’t afford a traditional home at the time. Because mobile homes are usually built in controlled environments so if construction work needs to be done or subcontractor work the weather will cause minimal delays.

A mobile home can be an excellent investment if you purchase it the right way. It is definitely cheaper then buying a traditional home if you are on a limited budget. Owning a mobile home gives you freedom and flexibility to move and it can help an individual to achieve financial freedom as well. It gives you the option if you are a landowner to save up to build a traditional home on your land and use the mobile home as a second home or even as a rental property generating you income.