Posts

Financial Options Available When Buying a Mobile Home

Financial Options Available When Buying a Mobile Home

/0 Comments/in /by

Getting approval to buy a home can be difficult to do, especially if you have limited funding available or if you have damaged your credit history in the past. Many people who are looking to start off their life on the right foot or who are looking to start over again, often find that mobile homes are a great option to consider. A mobile home provides you with a great place to live without the high price tag that comes with traditional stick-built houses.

Save Money Over Time

Since mobile homes aren’t overly expensive, many people choose to save up their money over time and pay for them outright. It often takes just a few years to be able to afford to buy a mobile home without any financing through a private lender at all. If you want to pay for a home outright, it’s a good idea to do some research before you even start saving. You need to know exactly how much the home will cost, including transportation costs and the cost to purchase or rent a piece of property to put the home on. This allows you to know how much you truly need to save in order to reach your goal.

Borrow Money from Friends and Family

If you have a poor credit rating or have no credit history at all, it can sometimes be difficult to get a loan to buy a house. This is where friends and family can sometimes come into play. Your friends and family may allow you to borrow money to buy a mobile home since they aren’t overly expensive to buy.

You need to be sure that you establish how much you are going to buy from them and how much your payments will be to them each month before agreeing to borrow the money. You need to be diligent in paying the money back as money can create chaos in a relationship if it is not paid back the way that it was promised to be. It’s a good idea to put everything in writing so that the person you are borrowing money from knows that you are serious about paying the money back to them.

Rent to Own the Mobile Home

Many people who own mobile homes don’t want to have to go through the hassle of selling the home and having someone move it. They will often choose to rent out their homes in the location where it stands instead of selling it. If you find a home that is available for rent that you really like, talk to the homeowner about possibly renting to own the home. You will pay a fee each month, and a portion of the fee that you pay will go toward the purchase of the home.

It’s important to make sure that a contract is created by a lawyer that ensures that it is clearly stated how much of the payment you make each month goes toward the cost of purchasing the house. The agreement also needs to state the final cost of purchasing the home and if the property that the home sits on is included in the purchase. If the home is located in a mobile home community, you can choose to continue living in the same place or have the home moved once you finish paying for it.

Owner-Finance the Home

If you want to purchase a home and don’t want to worry about the hassle of renting it, look for a mobile home that is available with an owner financing option. When someone owns a mobile home that they no longer want, they often allow people to pay for it over time.

The owner may allow you to move into the home before you finish paying for it, but many times they require a large sum of the home to be paid for before allowing you to move into it. This is because they are taking such a risk to offer to finance on their own. They will charge an interest rate for the financing and expect you to pay a minimum payment each month toward the home. It will work the same way that it would if you got a mortgage from a traditional lender, only your credit history more than likely won’t come into play.

Traditional Home Loan

Traditional lenders are banks or mortgage brokers who specialize in the financing of homes. They will offer you the ability to pay for the mobile home over time but may require you to put down a down payment for the home. Traditional lenders do take your credit history into account and will often need to know how much money you make each month, what your other outstanding debts are, and take a few weeks or even months to approve your loan. They will charge interest on the loan, but many lenders will allow you to pay off your debt quickly in order to avoid some of the interest charges that come with the loan. It is often much easier to get approval for a traditional loan when buying a mobile home because their asking price for the homes is a fraction of what a stick-built house will be.

You will need to prove to a traditional lender that the home is in good condition and is habitable. They may send an inspector to the home to look it over before approving your home loan. This is to ensure that they aren’t putting their money at risk by lending money towards a home that you won’t actually be able to live in once you get the loan.

Once you get financing for the home, you can go through with the purchase of the property. A mobile home can be a great starter home because it often doesn’t put people into as much of a financial bind as stick-built homes do. They are also very easy to upkeep, and because of the small size it often doesn’t take as much money to furnish them as traditional homes do.

Tips for Choosing the Right Size Mobile Home for Your Family

Tips for Choosing the Right Size Mobile Home for Your Family

/0 Comments/in /by

When you decide that a mobile home is the right housing option for you, it can be hard to know what size mobile home to buy. There are so many options that are on the market that there are a few factors that you have to take into consideration. The most common options for mobile homes are single, double, and even triple wide homes. The following guide walks you through the things that you need to consider to ensure that you invest in the right size mobile home for you.

Consider Where the Home Will be Located

The first thing you need to do is determine where the home will be located. Once you buy a mobile home, you need to have a piece of property to put it on. If you plan to move into a mobile home community, there may be a limitation on how large of a mobile home you can have. Determining where you plan to put the home before buying it ensures that you do not invest in one that is larger than you are allowed to have.

Consider How Many Bedrooms You Need

Mobile homes are often starter homes for many couples. They are inexpensive and provide the ability to relocate if needed. When buying a mobile home, you need to consider how many bedrooms you need a house to have. If you have children, you want to be sure that there is enough space for them to be able to live comfortably within the home. If you don’t have kids yet, but plan to have them in the near future, be sure to choose a home that is large enough for your growing family when you are buying it. Adding onto a mobile home isn’t as easy to do as adding onto a stick-built home would be.

Consider the Number of Bathrooms You Want the Home to Have

The number of bathrooms the mobile home will have will be dependent on its size. Single-wide mobile homes traditionally only have a single full-sized bathroom. Double wide will often have a single full-sized bathroom and a half bath or two full-sized bathrooms. A triple-wide could have as many as three bathrooms or two full-sized bathrooms and a half bath. If you have a large family, having a single bathroom may create a lot of chaos within the family because everyone may need to get ready at one time, and there won’t be enough space for that to happen.

Consider the Laundry Space within the Mobile Home

Many single-wide homes on the market have a laundry space added to the bathroom of the home or in the kitchen. This can make doing the laundry difficult because those are spaces that are commonly occupied within a home. You need to consider if you want a separate space dedicated to your laundry. If you do, you may need to invest in a double or triple wide home so that you can have a dedicated laundry room to do your laundry.

Consider the Kitchen You Want to Have

The kitchen in mobile homes can sometimes be quite small. If you have a small family or don’t cook often, a smaller kitchen may work out fine for you. If you have a larger family or enjoy cooking, a small kitchen may make you feel cramped or limit your ability to cook the way that you want to cook. Double and triple-wide homes often have much larger kitchens than single-wide home options. This allows you to have larger and more appliances than you would have in a single-wide home. For example, single-wide homes often do not have a dishwasher, but larger home options do.

Consider the Storage You Need Available to You

When you own a home, there are always items that you need to be able to store away to use at a later time. Single-wide mobile homes often have very limited storage space in them. Larger homes have more closet space, and some even have pitched roofs that create attic space for you to be able to store items overhead when they aren’t being used. You need to consider how many items you really need to store before buying any mobile home.

Consider the Common Space Your Family Needs

You want your family to be able to spend time together regularly to ensure that your family bond is as strong as it can be. If you live in a smaller home, it can feel cramped at times because the common area in the home will be limited. If you have a large family, choosing a double or triple-wide home may be a good option for you because the common areas in the home are often much larger than that of a single-wide home. This provides you with the ability to add multiple seating options in the house and ensure that no one feels cramped when they come to visit.

Consider the Cost You Can Afford to Pay

One of the most important things you need to consider when choosing the right size mobile home for your family is the cost that you can afford to pay for the house. The cost of a double or triple-wide is much higher than the cost of a single-wide mobile home. It’s best to get preapproval for a home before you even start house hunting to ensure that you know what your budget is. This allows you to narrow down your options and determine if the size of your home is worth more to you than the updated features that a smaller home may offer for the same cost.

Before choosing any home, it’s a good idea to take a tour of the model homes that the dealer has to offer. You will be able to physically walk through the homes so that you can accurately gauge if a home is going to be the right size for you and if you like the layout of the home before you buy it. This ensures that you are going to be as happy as possible with the investment that you make.

Are Upgrades Worth Investing in When Buying a Mobile Home?

Are Upgrades Worth Investing in When Buying a Mobile Home?

/0 Comments/in /by

People often choose to purchase mobile homes because they are so affordable and can be placed just about anywhere they choose. When shopping for a mobile home, there are so many options available to you when it comes to upgrades. Some of the upgrades are worth investing in at the time of purchase, and some can wait for later. The following guide walks you through a few of the most common upgrades that are available for mobile homes and advice as to if they are worth investing in or not.

Insulated Skirting Around the Exterior of the Mobile Home

If you don’t plan to put your mobile home on a concrete foundation, the bottom of the home will be exposed to the elements. This can lead to pipes freezing during the cold winter months and animals being able to burrow into the house from the outside. An insulated skirting can be a great upgrade to invest in because it not only provides your home from protection from most animals but also insulates the underneath of the house to decrease the chances of your pipes freezing.

Upgraded Flooring Isn’t a Great Investment to Make at First

Many mobile homes come with laminate flooring or carpeting throughout them to keep the cost to a minimum. The dealer will give you the option to upgrade the flooring to tile, granite, or even hardwood flooring to give the home a more refined look. While the upgraded flooring may look great, it can add thousands to your final cost of the home unnecessarily. Flooring can be changed out at a later date to keep your costs low when you are first buying the home.

Invest in Energy Efficient Windows and Doors Throughout the House

Mobile homes are often known for not being as energy efficient as stick-built homes are. Having low-quality windows and doors on the exterior of the house can allow heat and cool air to escape from the home during the cold winter or hot summer months. Upgrading to energy-efficient windows and doors makes it easier for your home to maintain a constant temperature. This minimizes the heating and cooling costs you’ll ultimately have to pay.

Sheetrocked Walls Aren’t a Necessity

VOG walls, also known as Vinyl on Gypsum, are standard in most mobile homes. They are smooth, thin walls that create privacy, but aren’t soundproof. Some people choose to upgrade the walls in their homes to sheetrock because they feel that it creates a more finished look and makes painting the walls easier. Sheetrocking the walls will cost you thousands of dollars and ultimately won’t change the way that you can use the house.

Upgraded Lighting Isn’t as Important

Many dealers have multiple lighting options that you can add to the home. There are chandeliers, recessed lighting, and even globe lighting that can be added to make the home look higher end and provide more light within the rooms. The cost to have the lighting upgraded isn’t worth spending because you can simply add lamps throughout the home to boost the amount of light that’s in a room. You can have recessed lighting, chandeliers or any other lighting you want to be added to the house later on down the road when you can afford it.

The Cost of a Jet Tub Will Make Your Soak Less Relaxing

Many people want to unwind after a long day at work, and taking a soak in a comfortable tub can be a great way to do it. Dealers often have upgraded tubs that have jets in them available for you to add to your home. The tubs are often larger than traditional tubs so that you can fit in them comfortably. The only problem with these larger, jetted tubs is that the water heaters in the mobile homes aren’t large enough to provide enough hot water to fill the tubs.

You’ll be investing in something that you might not even be able to use. It’s best to wait to install a jetted tub until you know you can afford the large water heater and the high electricity costs that will come with using it.

Granite Countertops Aren’t a Sound Investment to Make

Having granite countertops in your kitchen will create a very elegant look. The granite can cost you triple or even quadruple what you would pay for the traditional laminate countertops that come in most mobile homes, though. The countertops work exactly the same way, and there are so many color options available when it comes to laminate countertops that you can still create the look you want without having to pay the high cost that comes with granite countertops.

High-End Appliances Cost More than They're Worth

Refrigerators, ovens, and even dishwashers are all designed to serve a specific purpose. There are many options available, and some will cost significantly more than others. Upgrading to stainless steel appliances will boost the amount you have to pay for your home significantly. Choose the basic appliance package and upgrade your appliances later when you have more disposable income to spend. You can often find high-end appliances on clearance or even at a scratch and dent store to get the most bang for your buck.

Solar Panels Cost More than They Save at First

Solar panels can sound very appealing to many people. They can help you to be more environmentally friendly and decrease your overall electrical costs each month. When you are first buying your home, the cost to have solar panels added to your mobile home will be quite high. If you consider how much the purchase and installation price is for the upgrades, you’ll quickly realize it’s an investment to consider at a later time.

Some upgrades are totally worth the investment when purchasing a mobile home, and some are not. You need to think long and hard about what you really need in a home and what you want in your home. It’s important to budget and agrees to purchase the home for an amount that you can afford to pay off as quickly as possible. You can then use the money you were spending on the loan to make any upgrades you choose once you are established and no longer paying for the house.

8 Features to Consider for Your Mobile Home

8 Features to Consider for Your Mobile Home

/0 Comments/in /by

A mobile home can be a great investment to make when you are first starting out as an adult. They are very affordable and can be customized to suit your needs. Many people make the mistake of assuming that the show homes they see on the dealer’s lots are the only options available to them. This isn’t the case, though. There are many different features that you can have added to your home to make it fit your style or work well for your family. The following guide provides insight about some features you may want to add to your mobile home before making a final purchase.

Upgrade the Insulation in the Home

Most mobile homes have thin exterior and interior walls. Thin walls allow air to escape, which can make it difficult to maintain a constant temperature within the house. This can create electrical costs that are higher than they need to be. You can upgrade the insulation within the home to make sure that it is more energy-efficient. Insulation can be added to the exterior walls, the interior walls, beneath the roofing on the home, and even under the flooring to ensure that insulation is as great as it can be.

A Pitched Roof Can Increase Resale Value

If you know that you want to sell the house in the future and that it isn’t your forever home, you need to choose upgrades that are going to make it easier to sell later on down the road. A pitched roof is an affordable change you can make to the home that adds more curb appeal to it. Many mobile homes have flat roofs that can make the house look unfinished. A pitched roof makes the home look more like a stick-built home and can provide additional storage space, at the same time.

Hardwood Floors Add Character to the Home

You can have the flooring in the home upgraded to hardwood floors. Most homes come with carpeting in them because it is the cheapest flooring option available. The carpeting will become dirty over time and having to place it when you are ready to sell the house could be a hassle. Hardwood flooring can stand up to a lot of wear and tear and is very easy to clean so that you can rest assured it will look great for years to come

Add Sheetrock to the Walls

The vinyl on gypsum walls that are in most mobile homes can look a bit unsightly. They often have a textured feel to them, as well. Many mobile home purchasers choose to upgrade the walls in the home to sheetrock. The sheetrock creates a finished look and can diminish the noise that travels throughout the house. Sheetrocked walls can also easily be painted so that you can customize the house any way you choose in the future.

Upgraded Cabinetry Makes a Home Far More Valuable

The kitchen is the place where most people congregate in a home. Having a great kitchen can make your home feel warm and inviting while also creating a great place to create amazing meals for your family to enjoy. The cabinetry that comes with mobile homes traditionally is often very thin and lightweight. It doesn’t have much carpentry details added to it to give it character. Upgrading the cabinetry to higher-end options allows you to create a very sophisticated look in the kitchen. You can choose the layout for the cabinetry, the style you want to use, and even the color of the cabinets so that you can create your dream kitchen from the start. A finished kitchen with ornate cabinetry will make a home more valuable when you want to sell it, too.

Insulated Skirting Could Save You from Costly Repairs

Mobile homes typically do not have a lot of insulation beneath them. An insulated skirt can be a great investment to make because it not only keeps critters from taking up residency under the home but also keeps the space warmer during the cold winter. This helps to keep pipes from accidentally freezing when the temperature drops, while also creating a finished look to the home because it appears as though it is on a foundation. The skirting will add curb appeal to the home, which also boosts the ease of selling the house when you’re ready to sell it.

Engineered Wood Siding Looks Great and Helps with Insulation

Vinyl siding is often found on the exterior of mobile homes. It can deteriorate over time and leave you with an eyesore when people come to buy your home. Engineered wood siding is a great upgrade to consider for your mobile home because it has the look of wood siding without the high cost or difficult upkeep. The exterior of your home will be protected from the elements, look great, and stand the test of time with the engineered wood siding on it. The siding is available in a variety of colors so that you can create the exact look you want. You don’t have to worry about painting the siding later because it is designed to keep its color and just need to be pressured washed from time to time to knock any dirt or dust-free.

Being able to purchase a house that you know will still have a lot of value in a few years isn’t always easy to do. A mobile home that has a few of the upgraded options in it will be easier to sell and stand up to the wear and tear that you put it through for the years you live in it.

Most of the upgrades are very affordable, and some mobile home dealers even provide a discount if you choose more than one upgrade to make to the house. Once the house is built, it can be delivered to your property, and it will be ready for you to move in within a very short period of time. When you are ready to sell it, you’ll be able to walk away knowing that you were able to live comfortably and still get back some of the money you invested in the house with ease.

New or Used? Which Type of Mobile Home is Right for You?

New or Used? Which Type of Mobile Home is Right for You?

/0 Comments/in /by

If you want to own your home, but don’t need anything too large, a mobile home may be a great option to consider. Mobile homes are often far less expensive than traditional homes and can be transported if you decide to relocate in the future. It can be difficult to decide if you should purchase a used mobile home or a new one, though. The following guide walks you through a few of the benefits that come with buying each so that you can decide which option is right for you.

Rest Assured Everything is in Great Condition When Buying a New Mobile Home

When you buy a new home, you don’t have to worry about anything needing to be repaired in it. It will arrive in the best condition that it will ever be in. When you purchase a used mobile home, there may be issues that need to be addressed before you can live comfortably in the home.

Get a Warranty When Buying a New Home

A new mobile home will come with some sort of warranty that if certain things go wrong within the home within a specific amount of time, the company will have them repaired for you. This could save you a lot of money in the long run as home repairs can be quite costly. It’s important to make sure that you understand the stipulations of the warranty before buying the home so that you can know what you are responsible for and what the warranty actually covers.

New Homes Have Newer Technology

When you purchase a new home, you can rest assured that it has up-to-date appliances and equipment in it. Most mobile homes now come with energy-efficient appliances, water heaters and heating and cooling systems. Having energy-efficient options saves you money on your monthly energy costs. Having new appliances and equipment also makes it less likely that anything will go on the fritz in the near future which decreases your home upkeep costs.

Transportation Costs Are Often Included with the Purchase of a New Mobile Home

Mobile home dealers often work with transportation companies on a regular basis. They work out a deal with the company to minimize the overall cost that the dealers have to pay for the transportation of the homes that they sell. This allows them to include transportation costs in the asking price of the home, which can make the house more appealing to buyers. Not having to worry about how the home is going to be moved makes the whole process much easier. With the purchase of a used mobile home from a private seller, you have to figure out all of the transportation details on your own.

New Homes Can be Customized to Suit Your Needs

There are many times when you purchase a new mobile home before it is even built. You get to walk through a model of what the home will look like when it is finished but have the ability to customize it any way you see fit before it is finished being built. This allows you to create the home of your dreams from the start. If you purchase a used home, you may have to remodel it to make it feel like home to you. This could be quite costly and time-consuming in the end.

Used Mobile Homes Cost Far Less Than Newer Ones

If you are on a limited budget or simply want to minimize the amount of money you spend on your home, a used mobile home may be a great option for you. They are often in great condition and will last you for years without the hefty price tag that comes with newer models. In order to ensure that you are getting the most bang for your buck, price compare other similar mobile homes that are for sale and have the home inspected by a professional. This allows you to have peace of mind that there are no major repairs, you’ll have to pay to have done in the near future.

Buying a Used Mobile Home Can Sometimes Negate All Moving Costs

It’s very common for used mobile homes to be situated on a property where they can stay. You may have to pay a monthly fee to keep the home on location, but it will save you a lot of money because you won’t have to pay to move it. Take the time to find out if there are any rules or regulations for the property where the home is located. You want to be sure that you can abide by those guidelines before buying the home because if it doesn’t work out, you’ll have to pay to have it moved or sell it to someone else.

Used Mobile Homes Are Often Affordable to Repair

Since used mobile homes are often a year or more old, finding the necessary parts to make repairs is often easier than it is for newer models. Repairing a used mobile home is often far more affordable than a newer model because repair companies already have experience working on them and can gain access to the necessary parts with ease.

Financing for a Used Home Can Sometimes be Easier

When you need to finance the purchase of your mobile home, it can sometimes be easier to get financing for a used model. This is because the cost is often far less and because the home often doesn’t have to be moved. Since the home doesn’t cost as much, your monthly payments will be lower, too.

It’s important to keep an open mind when it comes to buying a mobile home. There are homes available in every price range imaginable, so it’s best to sit down and determine how much you can really afford to spend on your new home. Talk to a mobile home dealer in your area and find out what options are available to you. Mobile home dealers sell not only new mobile homes but often have quite a few used options available for purchase too.

Reasons Why a Mobile Home is Great for Minimalists

Reasons Why a Mobile Home is Great for Minimalists

/0 Comments/in /by

Many people become tired of having so many things to keep up with regularly. Minimalism is becoming increasingly popular across the world because people realize that they are more interested in having amazing experiences rather than a collection of things.

If you want to be able to pair down your belongings, moving into a smaller home may be a great option to consider. Mobile homes are available in a variety of sizes and styles to provide any minimalist with a chic place to live. The following guide walks you through a few of the many reasons why a mobile home is so great for the minimalist lifestyle.

Less Décor Required to Create a Stunning Look

When you live as a minimalist, the last thing you want is a lot of clutter in your home. In a mobile home, there is far less space to have to decorate than a traditional home. This means that you can create the chic look you want without having to spend a lot of money. Many minimalists tend to invest in décor that can serve multiple purposes so that they need fewer items in the house overall.

Less Area to Keep Clean

If you work a full-time job, you more than likely do not have a ton of free time readily available to you. The little bit of free time you do get shouldn’t be spent cleaning your home. A mobile home is much smaller than a traditional home and thus takes far less time to clean. Many people like the fact that many mobile homes have surfaces that are very easy to clean such as the walls. The walls in mobile homes are often made from VOG, vinyl over gypsum. It is a very smooth surface that’s simple to clean when needed.

Fewer Items to Maintain and Upkeep in the Home

Since a mobile home is so much smaller than a traditional home, it takes much less effort to upkeep. With less square footage, there is less piping and less electrical components throughout the house. If something does go wrong, it will be easier to find out what the issue is. You can gain access to much of the plumbing in the house by going underneath it if it’s not on a concrete foundation. This can make maintenance much easier.

Less Cost for a Home

When you buy a mobile home, you have the option to buy a new or used home. The great thing about mobile homes is that they cost far less than a traditional home. They can also be moved from one place to another if they aren’t on a solid foundation. This allows you to buy a home at a very affordable price and have it moved to any property you choose. You can purchase your piece of land or have it moved to a mobile home community.

Mobile home communities do charge a monthly fee to keep the house within the community, so be sure to take that into consideration before choosing a community to call home. If you want to save even more money on the overall purchase of the home, consider purchasing it in used condition. Used mobile homes will cost far less than new homes and are often available in great condition so that they will last for years to come. It can be a great way to get the most bang for your buck when buying a home.

Less Storage Space to Minimize Belongings

If you are starting in your journey to being a minimalist, it may be difficult to stay on track when it comes to accumulating items. If you live in a mobile home, it will be easier to stick with your path because there aren’t ample storage spaces available. Once your storage spaces are full, you won’t be able to keep buying things because you won’t have anywhere to store them.

Less Exterior to Maintain

Maintaining the exterior of your home is essential to ensure that it lasts as long as possible. The roof on a mobile home needs to be maintained, but it costs far less to make repairs on the smaller roof than it would a larger home. You also need to have the exterior of just about any home power washed from time to time. This minimizes the likelihood of damaging mildew from growing on the sides of the home. Power washing companies charge far less to power wash a mobile home than a traditional home.

Less Cost for Appliances

When you have less square footage available to you, it creates the ideal atmosphere to invest in smaller, less expensive appliances. There are washer and dryer combos that have both appliances built into one. They also have smaller dishwashers and microwaves available that can fit into a smaller home with ease. They are much less to purchase initially, which allows you to spend money elsewhere.

Less Stress Overall

Knowing that you don’t have a huge home to clean or a ton of money that you have to spend to own property can save you a lot of stress in the long run. Being able to minimize your stress is just as important as minimizing the number of items that you own. You want to be able to have overall peace, and starting with getting rid of things that make you feel overwhelmed is important.

It’s important to find out if transportation costs are included with the amount you are paying to purchase the mobile home. If you are buying the home in new condition, there is a good chance that transportation is included. You will only be able to have the home transported a certain number of miles without having to pay extra for transportation. If you are purchasing a used home, you will more than likely have to pay for the transportation on your own. It will still save you money overall in comparison to what you will pay for a traditional home.