Perks And Downfalls Of Mobile Homes — Are They A Good Home Investment?

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Perks And Downfalls Of Mobile Homes — Are They A Good Home Investment?

A large portion of homeowners lives in mobile homes in the United States. These pre-manufactured houses come in an array of sizes and styles, so they do have just as much to offer as most regular homes. In your search for a new home, you may come across some real estate listings that offer a mobile home on a piece of property. Here is a look at these homes so you can decide if they are a good investment. 

Perk: Mobile homes are usually a lot cheaper than a standard home. 

Downfall: Some mobile homes do not hold their resale value the same as a traditional home. 

If you are looking into more affordable home options, mobile homes are definitely a cost-efficient option. The homes are usually purchased initially from mobile home manufacturers at a relatively conservative price and placed on a piece of land. Unfortunately, because mobile homes are not built the same as a traditional home, they may not always hold their resale value the same. For example, mobile homes are built to be lightweight enough to be transportable, which can mean narrower framing materials that do not have the same life span as wood framing used during a regular build. 

Perk: Mobile homes have the potential to be moved. 

Downfall: Moving a mobile home can involve work and money.

If you buy a mobile home already situated on a piece of land and you move in but later discover you don't like the area, your home can be moved to a new location. As much convenience as this brings to a homeowner, the process of relocating a mobile home can be time-consuming and costly. The home has to be prepared by movers with everything secured and anything removed that can't be secured. The move itself requires special heavy equipment, and any new piece of property may require the installation of utility lines. 

Perk: You can find mobile homes for sale just about anywhere in the country. 

Downfall: Mobile homes may not be found in upscale neighborhoods. 

Whether you're looking for a home for sale in the middle of the state of Arizona or somewhere in Kentucky, you will likely see a few mobile homes listed. These homes are pretty common in just about every state, especially in certain areas. However, what you won't find much of is mobile homes in upscale or higher-end neighborhoods or cities. Some governing entities restrict where mobile homes can be placed. 

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In Real Estate, It Pays to Have a Plan Real estate purchases are big purchases. You may pay several hundred thousand dollars, or even more, for a property. As such, there's not a lot of room for error. If you buy a house that needs a lot of unexpected work or end up in over your head when it comes to the mortgage, your dream home can quickly turn into a nightmare house. We want to help you avoid scenarios like that, which is why we share so much information about real estate on this blog. Our readers emerge more informed on a wide array of topics, from buying to closing.