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What is the Value of a Used Mobile Home?

Sonal Panse Jan 11, 2019
Check the mobile home thoroughly. If it is well-maintained and structurally sound, then only settle down for one. Let's know more about it.
Mobile homes have been in demand lately. There are various factors associated with them, one of the prime ones being; they can be easily afforded. Also, the time that goes into constructing or buying an apartment can be a deterrent for many.
Given are some other points which make mobile homes appealing to prospective buyers:

✦ Used mobile homes cost considerably lesser than the new ones.

✦ You can buy the ones that are in good condition and have the same features as new.

✦ You can buy one that is already set up in the area of your choice.
You need to know exactly what you want before you purchase. Here are some things to consider -

✦ The type
✦ The size
✦ The features
✦ Your budget
✦ Would you pay more for some extra features that are not utterly necessary?
✦ The area and nearby community
Visit mobile home retailers and ask if they have a list of homes for sale. Contact local estate agents and ask about sales in the area. Buying directly from the owner will save the money you would pay as commission, but be very savvy about paperwork and other legal formalities.
Check the bulletin boards in rental communities and see if anyone has listed a sale. Check classified advertisements in local newspapers or search online.
Before making a purchase keep in mind the following:

✦ Check the manufacturing year of the home. Avoid buying one that was built prior to 1977, as these were not built according to HUD standards (HUD code was set up the US government to establish a design, building, and safety standard for all mobile homes).
✦ Check the property thoroughly. With the owner's permission, get a professional opinion about it. Also, get a written assurance from the owner that the mobile is in fine condition.

✦ Check if repairs are necessary and to what extent.

✦ Check the neighborhood or community park where it is located. Ask around to get an idea about the neighborhood.
✦ Ensure that mobile home community office approves the sale and you as new owner.

✦Ask for written copies of rental and maintenance agreement, rules, restrictions. Get updated copies of zoning laws, restrictive covenants, water, utilities, sewage needs.
✦ Compare prices in the particular area and find the range.

✦ Contact financing companies to compare the options.

✦ Once you get the required finance, make sure you understand all terms and conditions correctly.
Do keep the aforementioned aspects in mind, so that you can make a well-informed decision.