The process of buying a mobile home is no different from buying any other type of property. It’s demanding and thrilling at the same time. Buying a mobile home is also going to be one of the most significant investments of your life. So it’s essential that you educate yourself about every aspect of the purchase. Such as how much are mobile homes; what are mobile homes; pros and cons of buying a mobile home, etc.
This mobile home buyers guide contains the answers of all your questions; so let’s get started.
What Are Mobile Homes
A mobile home, also known as trailer home, trailer, caravan, static caravan, house trailer is used as a holiday accommodation or permanent home. The home is manufactured in a factory and can be moved from one place to another. (Credits: Wikipedia)
Types Of Mobile Homes:
Before starting your house hunt, make sure you know what are the types of mobile homes as they don’t come in a single form.
These homes are often categorized into three types:
- Single Wide Mobile Homes:
- Double wide mobile homes
- Triple wide mobile homes
How Much Are Mobile Homes – Single Wide Mobile Homes:
Single-wides are the smallest of mobile homes. These homes are built and toed to the site as a single unit.
What Are The Sizes Of Single Wide Mobile Homes?
The standard size of single wide mobile homes ranges between 600 square feet to 1,330 square feet. If we break it down in feet, the standard length of a single wide home would be 90 feet while the width 18 feet or less.
However, the average size that a single wide mobile home comes in is 72 feet in length and roughly 15 feet in width, totaling 1,080 sq ft.
How Much Are Single Wide Mobile Homes?
A large number of people who ask how much are mobile homes often lack the knowledge as to how the prices work in this type of housing.
Since the mobile homes are categorized into three different categories, their prices vary accordingly.
In terms of price, single wide mobile homes are relatively cheap.
According to the Department of Housing and Urban Development, the average price of a single wide mobile home for sale is $37,100.00. Cheap, isn’t it?
Double wide mobile homes:
Similar to single-wides, the double wide homes are manufactured in the factory and toed to the site in two separate units.
What Are The Sizes Of Double Wide Mobile Homes?
As evident from the name, double wide homes are larger than single-wides in size. The double-wides start at around 1,067 sq ft and may go as high as 2,300 sq ft.
Breaking down in feet; the length of double wide mobile homes may go up to 56 feet while their maximum length would be 90 feet or less.
The most common size the double-wides come in is around 1,456 sq ft (26 feet wide and 56 feet long).
How Much Are Double Wide Mobile Homes?
The price of double wide mobile homes for sale varies based on their size. The larger the home, the higher the price.
The average double wide mobile home price is around $73,000.00. Meanwhile, a new double-wide may cost as much as $83,000.00.
Triple Wide Mobile Homes:
Largest form of the mobile homes. The triple wide mobile homes are also manufactured in factory and toed to the site in three separate units.
What Are The Sizes Of Triple Wide Mobile Homes?
The standard size of a triple wide mobile home is around 1,600 square feet to 3,040 square feet. While talking about triple-wides, these homes can be further divided into three categories based on their sizes:
- 1,600-1,920 square feet with two bedrooms and two bathrooms.
- 1,840-2,080 square feet with three bedrooms and two bathrooms
- 2,240-2,460 square feet with four bedrooms and three bathrooms
How Much Are Triple Wide Mobile Homes?
How much are mobile homes in three units depends on the size of a particular unit. A unit with more square feet will cost more.
Similarly, the price of triple wide mobile home for sale with smaller space will be on the lower side.
On average, the triple wide mobile homes price ranges between $54,195.00-$89,095.00.
Buying A Mobile Home vs. A House?
Buying manufactured home vs house is completely a personal choice. People go with the type which they are most comfortable with.
However, it’s necessary that a buyer knows what type of housing has the edge.
So here are some of the key highlights of manufactured homes vs. traditional homes.
Buying A Mobile Home Offers:
- No property taxes.
- The land rental fees are comprised of water, garbage, sewer and recycling pickup. All these factors combine to determine how much are mobile homes in a particular area.
- No interference from the neighbors
- Minimal property maintenance
- Smaller yards which are easy to maintain
- Beautiful Locations. The manufactured homes are often situated conveniently to the beautiful ponds and lakes.
- No pet restrictions
- Easy to modify. The owners can paint, upgrade or completely overhaul the homes anytime they want.
- The communities often include fitness centers, pools, etc.
Buying A Regular Home:
- The regular homes are much more expensive than manufactured ones
- A regular homes is constructed on a site rather than in a factory
- Regular homes are more resistant to strong weather conditions as compared to mobile homes
- Regular homes increase in value over time
The biggest drawback of buying a mobile home is depreciation in the value. How much are mobile homes solely depends on how long ago they were built. The older they are, the lower their value goes. On the other hand, the value of regular homes is almost always going higher.
Is Buying A Mobile Home A Good Idea?
Whether buying a mobile home is a good idea or bad completely depends on one’s personal circumstances. If you have a tight budget, mobile homes are your only option to own a personal property. However, people with larger budgets may find buying mobile homes less tempting.
If you are looking to buy a mobile home, keep the following things in mind.
- Decrease In Value:
Mobile homes are typically placed in mobile home parks and their value depreciates over time. On the other hand, the value of land appreciates. So building a mobile home on a piece of land that you own could be a good investment.
However, if you are buying mobile home for sale in a mobile home park, you might not be able to sell your home for as much as you bought it.
- Issues While Reselling The Home:
The owners might face several issues during the resale. Despite what their name suggests, mobile homes are not that mobile. Once they are placed at a sight, they are hard to move.
A potential owner who is willing to move house to a desired place may end up spending thousands of dollars, which ultimately arises issues and puts off the interest of a buyer.
- Maintenance Responsibilities:
Another thing to remember while buying a mobile home for sale is the maintenance responsibilities.
In mobile homes, the responsibility of repairing a dishwasher, fixing a leak in the roof or other repairs is on the shoulders of the owner, which is not the case in apartments.
In apartments, all the repairs are done by the local community.
Is It Better To Buy A Mobile Home Or A House?
People who ask the question how much are mobile homes and is it better to buy a mobile home or a house often have two things in mind:
- They want to own a home regardless of the type
- They want to have a yard
But your main focus while buying a mobile home should not be just on these two points. There is much more to pay attention to, such as:
- The value of mobile homes depreciates over time. On the other hand, traditional homes appreciate significantly.
- Due to depreciation in value, mobile homes are harder to sell
- The land underneath mobile homes does not belong to the owners and they must pay monthly rent for the occupied space.
- Mobile homes often come without garage or personal parking space
- The loans for mobile homes come at higher interest rates and require a higher down payment amount to qualify.
- Finding the funding for mobile homes is a tough nut to crack
- It’s common for mobile home parks to increase the land-rent. If the owner is not willing to pay the rent, he will be asked to move his home off the property.
Is It Cheaper To Buy A Mobile Home Or Build A House?
Mobile homes are slowly gaining respect. The number of people buying mobile homes or enquiring about these homes is increasing each day.
The primary reason behind their increased popularity is lower costs. A majority of the people looking to buy a manufactured home/mobile home prefer this type of housing because it is more affordable than traditional housing.
Since the biggest advantage of mobile housing is the price, the majority of the prospective buyers start their proceedings with the question how much are mobile homes. Which, in other words can be translated as is it cheaper to buy a mobile home or build a house.
To answer the question, here are some of the highlights of mobile housing.
- An average mobile home costs up to $63,000.00 whereas the average price of a traditional single family home goes as high as $270,000.00.
- According to a recent survey, the median income for those living in mobile homes was around $30k.
- Over 43 percent of all homes sold under $150k are the mobile homes in the US.
- Manufactured homes are cheaper to buy and maintain than traditional homes
Advantages And Disadvantages Of Mobile Homes?
The list of major pros and cons of buying a manufactured home may include:
Advantages Of Buying Mobile Homes:
- Less expensive than traditional homes
- Mobile homes use less gas, water and electricity and are considered environment friendly
- Since mobile homes are smaller in size and have simple designs, they need low maintenance
- Mobile homes are portable. If you want to move across the town, city or state, you can take them with you.
Disadvantages Of Buying Mobile Homes:
- The value of mobile homes depreciates over time
- Due to the depreciation in the value, finding funds for mobile homes is a bit more difficult
- Mobile homes have limited space, and are generally smaller in size than traditional homes
- If your mobile home is placed in a mobile home park, you will be required to pay the rent for the occupied space.
- Since the material used in mobile homes is less durable, they are incapable of withstanding extreme weather conditions.
Are Mobile Homes Worth It?
If you have a tight budget which does not allow you to go for a home that costs over $100k, then buying a manufactured home is the only option you are left with.
The average mobile home cost is around $63,000.00 and is a good option for those whose sole purpose of buying a home is to have homeownership.
However, if you want a home for investment purpose, then traditional homes are the most suitable option. The value of such homes appreciates over time which is not the case in mobile homes.
Good Things About Mobile Homes:
The list of good things about mobile homes includes several points. Some of the points are:
- Mobile homes cost far less than traditional homes. How much are mobile homes? Just $63k on average.
- The homes are manufacture in a controlled environment and are built in about one-third of the time it takes to build a traditional home.
- Mobile homes are customizable
- Energy efficient – these homes are constructed with efficient cooling and heating systems
- The manufactured homes are environment friendly
- Mobile homes come with a one-year warranty for widows, faucet, siding, etc.
Bad Things About Mobile Homes:
Every story has two sides and mobile homes are no exception. There are several disadvantages of mobile housing and the list may include:
- Difficult financing
- Hard to resale
- Depreciation in value
- If you don’t own the land to install the home, you will need to pay rent for the space in a mobile house park.
The Bottom Line:
A number of buyers who ask how much are mobile homes are unaware of the fact that the modular housing comprises of three different categories – single wide, double wide and triple wide mobile homes. The cost of each category differs from the other and it’s up to the personal needs and requirements which determine what category suits you best and how much it costs. Good luck with the purchase!