![]() ![]() Depending what mobile home park you move to, you may be able to enjoy luxury for less, says John Maxim, a real estate flipper based out of Salt Lake City and the founder of four real estate companies. But as noted, plenty of mobile parks have amenities like swimming pools, tennis courts and clubhouses – and some mobile parks are extremely upscale. Mobile home parks sometimes have a reputation for being less than stellar places to live. “Any licensed tradesperson can work on an off-site built home,” Crosby says. Maintenance doesn’t change much. The good news about living in a manufactured home is that the necessary maintenance is roughly the same as in a traditionally built house, and the smaller footprint can mean that it’s less costly to maintain overall.Other issues related to the condition of the home will likely be easier to spot when you take a tour. Issues with those four systems will likely be the most expensive to deal with. “It ensures the roof, the electric, the plumbing and the heat and air are in good working order,” Rearden says. A simplified inspection will tell you what you need to know. While a home inspection for a house built through traditional construction can include hundreds of details and can take several hours to complete, Rearden says a simple four-point inspection will typically tell you all you need to know for a manufactured home. ![]() “But there is a really nice sweet spot where you can find a really nice manufactured home in the $25,000 to $50,000 range,” Rearden says, adding that when the home is maintained well and kept up to date, it’s less likely to lose significant value in this range. A manufactured home depreciates in value. While real estate typically increases in value over time, a manufactured home typically depreciates in value over time like a car.These types of loans do exist, however, and there are programs under Fannie Mae and Freddie Mac for conventional loans, or through the Federal Housing Administration and other government agencies. You can’t get a traditional mortgage for a manufactured home. Because of the nature of manufactured homeownership, you can’t get a traditional mortgage and it may be harder to get a manufactured home loan.You don’t have a property deed or anything, but you have a title,” Rearden says. “A manufactured mobile home actually has titles that are very similar to a car. Because the home is not permanently built on land, it is personal property rather than real estate. The purchase process differs from buying a house. If this is your first experience with a manufactured home compared to a traditionally built house, know that the purchase process and type of ownership is different. ![]()
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