Mobile Homes Pros and Cons | Manufactured Homes

– So you’re thinking about
buying a manufactured home? Well there are some pros and cons to buying a mobile home, and we’re gonna be
talking about them today. It’s Take a Tip Tuesday. (peaceful music) Hi, my name is Kristina Smallhorn, your real estate whisperer. And today I wanted to talk to
you about manufactured homes. It’s one of those things
here in Louisiana, we have lots of them. And there always is the question, is it a good deal for you? So today we’re gonna go through all the pros and cons of
purchasing a mobile home so you can make the
right decision for you. So let’s just jump into the pros. Of course, the first pro
that most people look at is the money. If you look at it price per square foot, it’s about $50 per square foot to buy a brand new mobile home. And of course if you’re
gonna buy a brand new house, it’s about $107 per square foot. That’s a huge savings. When you’re buying a mobile home, you’re just buying a home itself, and not the piece of land underneath it. So you definitely want to
put that in consideration if you want to go ahead
and purchase a mobile home and roll that into your costs so that you can compare it to a traditional stick-built home. Oh wait, before I forget, there’s one more thing you need to know. If you purchase a mobile
home from a buyer, from a previous owner, and you go in the house and you see there’s a plate on the wall that has all these official numbers on it, do not remove that plate. It’s imperative that you keep
that for future reference so when you go to sell your home, they can look at those numbers. You need to keep that, so do not remove that plate in your house. Another pro is, technically
you can move the thing. If you don’t like where you live and your neighbor’s driving your crazy, you can technically move
your manufactured home to another location. I want to give you a word of warning. If you do move your mobile home from one location to another location, that can ruin the chances
for a future buyer to purchase your home with a loan. FHA and VA have strict guidelines. Once that mobile home
has found its location, and the tongue and axle have been removed, the house can not be moved again. And, they will not finance it. So, just remember, once that property has been titled with the land, you can not move the house in the future. So, technically, yes you can move it, but make sure you follow
the right guidelines so that way in the future, you’re gonna be able to
sell your mobile home. So you’re not really sure
if you really want to purchase a whole piece of land to take care of yourself, well there’s lots of
mobile home communities that are available all over Louisiana, and all over the country for that matter. And they offer things like swimming pools, even golf courses, and community parks. So that’s definitely a pro
of owning a mobile home. Since one of the main reasons that most people buy a
mobile home is the cost. It’s also a big perk that
the taxes that you would pay on a mobile home is gonna be a lot less, ’cause it’s considered personal property, and not like a traditional
stick-built home. You would actually pay a
lot more in property taxes for those particular properties, ’cause you’re paying for the house and the land underneath it. So that’s another pro of
owning a manufactured home. Another pro to having
a manufactured home is, believe it or not, energy efficiency. Over the last several years, manufactured homes have actually become more energy efficient than
some regular stick-built homes that have the poured concrete. They have improved on
their quality and safety over the years, much more than some of the regular standing houses. This is a definite pro when it comes to owning
a manufactured home. So, I know that the stigma is that these things fall
over like matchsticks, and whenever there’s a windy storm, that there’s gonna be a problem with somebody that owns a mobile home. So do your due diligence, and find out, and do
your little investigation when it comes to mobile homes, and the quality of the mobile home that you’re thinking about purchasing. And, look for any kind
of recommendations online with certain manufacturers
of mobile homes, and throughout the country,
there’s many of them. 121 when I looked it up, 121 different plants make mobile homes here in the United States. If you would like to put
your manufactured home in a mobile home community, you might have a problem in the future with the rising costs of renting the space where
your mobile home sits. It’s just like renting an apartment. You can’t expect them to
keep the price steady, it’s always gonna go up, because the costs to run
the facility goes up. So, it’s almost like paying an HOA fee. But it’s one thing to consider when you’re deciding to put
your mobile home somewhere, is how much are the fees
going to be when you park it, and how much do they go
up on a regular basis. So, you found the perfect mobile home and you found the perfect location. But they don’t have to
accept you in that location. Some mobile home communities
have restrictions that you have to apply to be
accepted into their facility. So keep that in mind too, when you’re deciding if you
want to buy a mobile home and put it in a mobile home community. One of the biggest disadvantages
to owning a mobile home is that they really
rarely increase in value. So it’s almost like buying a car. When you drive it off the lot, it’s going to depreciate in value. Now I know that in the future when you go to sell these things, and you’ve had it on a piece of land that you’ve had for years, the value sometimes does go up, but that’s because the land has sold for a lot more in the area. So, the increase in
value actually comes from the land that it sits on. I know that it’s really
disheartening for a lot of people that in the future when they
go to sell their property, they haven’t actually
increased in value at all. In some cases I’ve even seen it where they actually had to
sell it for less money than what they purchased the
mobile home and land for. It’s one of those things you’re gonna have to really consider when you’re purchasing
a manufactured home. You can get VA and FHA
lending when it comes to purchasing a mobile home, even one that’s be a resold. But there’s a few restrictions
you’re gonna have to follow. When you park your manufactured
home at it’s new location, you’re gonna have to make sure that the tongue and
axle have been removed, make sure you save all the paperwork from when the house was
parked in it’s location. And like I said earlier, you can not move that location at all. So if the house had been moved, you’re not gonna qualify for FHA and VA. With that being said, there’s plenty of local credit unions that will do that kind of financing. They’ll consider this a personal loan, and the interest rates are
generally a little bit higher than they would be for
like a FHA or VA lending. So definitely keep that consideration, especially when you want to go
sell your manufactured home. This is a pro and a con. You’re gonna have to plan
to maintain your house. So always seal up your windows, and check for caulking around any kind of fixtures in the bathroom, and always maintain your house with seals around the doors and windows. So, it’s just like a regular home. You’re gonna have to
maintain it just the same. So, if you’re not into maintaining in, maybe a mobile home isn’t for
you, and neither is a house. Speaking of maintaining a home, I’ve done some videos on
how to maintain your home before you put it up for sale, so you may want to watch
that video right here. If you want to know
more about buying homes and some ways that people
have made some mistakes, you’re gonna want to watch
this video right here. And always make sure you
like, share, and subscribe so you don’t miss my next real estate tip. My name is Kristina Smallhorn, your real estate whisperer. And I tell you all this
because you matter.

10 thoughts on “Mobile Homes Pros and Cons | Manufactured Homes

  • I never knew that if you take off the axel of the mobile home, then you can’t move it. I wonder what the rules would be on a manufactured home?

  • good info thanks for sharing lots I didn't know but you did forget the negative of that they are tornado magnets lol

  • Hey if you don't get along with the neighbors you can pack it up. I would be awesome to have a little piece of property in the bush with a manufacturered cabin on it and fish all day😆😉

  • I lived in a mobile home for 4 years when my kids were small. You shared information I did not know about. Interesting.

  • Saw your comments on the Tubebuddy live today Kristina, just wanted to say hi! You've got a killer channel! Keep up the awesome work! ❤

  • Interesting that Texas had the most shipped mobile homes, I was going to say that up north in Ft. McMurray area where the oil refineries are there are a lot of them. It is a very expensive place to live and the cost of homes is very high. I bet it's a trend in the oil & gas industry too because a lot of people use them as a second place to live when they are on a turnaround. It's too bad that they are like cars, once you buy them the price (value) starts to drop. Thanks Kristina!

Leave a Reply

Your email address will not be published. Required fields are marked *