Buying A Used Manufactured Home

While professional home inspectors know exactly what to look for in a pre-owned manufactured home, making a list of the areas and items you want checked could help you get the most out of the home inspection.

buying a used manufactured home

Manufactured homes have a floor framing system, which consists of sheet plywood or wood composite decking placed on top of floor joists, with a moisture barrier underneath and floor covering on top. Although the floor system in newly manufactured homes meets the rigidity requirements specified by HUD, some used manufactured homes may have floor issues, like soft spots, waviness, and/or holes. If the vapor barrier has been compromised, the floor frame structure should be checked for water damage.

In pre-owned manufactured homes, roofs are the most common source of leaks. If there are any water stains on the ceiling, the problem could be caused by holes as well as by loose or missing shingles and/or flashing right above the stains.

Buying a used manufactured home can be an excellent alternative to almost any aspiring buyer. Basically, used manufactured homes provide the opportunity to purchase the home of your dreams at more than half of the purchase price of a new one.

Before making a decision, you should examine the pros and cons of the option in front of you, just like you would with any other investment. So, here are some of the advantages of purchasing a used mobile home:

Most mobile home communities are open to letting used mobile home buyers and sellers settle financing outside the bank or credit union. This implies that prospective buyers can, for example, agree to make a monthly payment to the private owner, until you clear the total cost.

Like any other investment, used mobile homes come with their own set of issues that you should be aware of before making a home purchase. Consider the drawbacks below before purchasing a used manufactured home:

For example, the number of bedrooms and bathrooms is important because they will affect the ultimate cost. For instance, if used 2-bedroom mobile homes for sale is what you seek, stay focused on that size, and consider all that fits that criteria.

Though the option is affordable, purchasing a used manufactured house is still a significant financial commitment. Ensure there are enough electrical circuits in the facility to meet your needs before buying.

We recommend structures with a shingled roof over metal roofs because metal roofs lack overhangs when it rains, which might be an issue. Most shingled roofs have overhangs that aid in water movement and ventilation. You should always learn how long roofs last on manufactured homes.

If you are looking for a used manufactured home, it is important to find walls constructed of durable materials. This will help you have peace of mind that your home will not sustain any structural damage.

After weighing the pros and cons above, we can ultimately conclude that buying a used manufactured house is a great idea. One of the most compelling reasons to consider buying a used manufactured home is the more affordable cost.

Owner Sold: The owner can also try to sell their manufactured home with the land on their own to a potential buyer. This can happen via online auctions, a real estate broker, or completely on their own.

One scenario to look at is when home buyers submit their credit applications with low credit scores and a small down payment only to find that the chosen lender declined their application. The lender will then counteroffer with better terms on the financing of a used home rather than a new home. This usually eliminates all other choices but that of a used home.

This scenario goes a long way to explain why used homes are no longer a less expensive option, but, because a bank can decide on what they need to turn a profit on their used homes, better loan terms may be used to incentivize the sale of a used home.

When oil field work is booming and labor is in high demand, housing is in high demand, too. Oil field companies will purchase a ton of used mobile home inventory for their work force because it is ready and available to transport and install at the drop of a hat.

However, a used mobile home is only given a 60-day Habitability Warranty, which means from the day the used home is set on your property, you have 60 days to get all water and electric connected and tested thoroughly to have any necessary repairs covered by the seller.

While used mobile homes that remain on the same property and are moved only for the original sale retain their value very well, and can often appreciate, homes that have been moved more than once are immediately disqualified from sale with a government loan (FHA and VA).

While this does not disqualify the actual resale of a reinstalled used home, it does make selling at fair market value much more difficult as many buyers in a mobile home price point typically use government loans to afford the down payment and interest rate.

Used manufactured homes offer significant advantages over purchasing a new home. It is important to know what to look for when buying used manufactured homes to prevent problems down the road. Unlike stick-built homes, manufactured homes usually depreciate over time. A savvy buyer can use this to his advantage.

The biggest cost savings a used manufactured home has over a new one is that it is usually located on land. This can save you almost half the cost of purchasing a new home. When you purchase a new manufactured home, site work has to be done to prepare the lot for the home. Site work includes everything needed to clear the lot and run utilities.

Is the home tied down to a foundation? This is a plus, especially in areas prone to tornadoes and hurricanes. Does it have skirting, or is it enclosed with block, brick, stone or cement? Permanent tie-downs and block enclosures make a home worth more. These are upgrades on a new home and add to the base price. On a used manufactured home, these options reduce or eliminate the depreciation rate. Use this as a bargaining point to get the best possible deal.

When buying used manufactured homes, see if the homes are level. Sheet rock gives you a clue. If homes are not level, you will see cracks starting under windows or near doors or corners. They may be larger at one end than the other. Another way to tell is to bring a marble with you. Place it on the floor or counter. If it rolls away, there are issues with how level the home is. This can be a bargaining item, or it can be a deal breaker. Find out how much it will cost to make a home level.

Being an informed buyer will greatly reduce the headaches involved with buying a manufactured home. Used homes offer great deals and are better than new ones, in many cases. Knowing what to look for will help you get the best deal possible.

Modern-day manufactured homes have come a long way from traditional manufactured dwellings of the past in terms of design, structure, and energy efficiency. Manufactured homes refer to houses built in factories in compliance with HUD federal building codes.

Whether you're a first-time buyer, a retiree who plans to downsize and retire to the country, or a head of household who wants a great housing value, used mobile homes for sale in Texas can provide exactly what you need. Mobile homes represent a great way to get the most bang for your housing buck, and when you select from among gently used mobile homes for sale in Texas, that value is magnified even further.

However, buying cheap mobile homes for sale in Texas is not without pitfalls. Just as is the case when buying a used vehicle, you could be purchasing a mobile home that appears to be in good shape only to find out later that there are significant problems just beneath the surface. Therefore, when purchasing a used mobile home, there are some key considerations you should take into account to avoid some of the common mistakes many homebuyers make when purchasing a used mobile home. Keep reading to learn more about mistakes that you should avoid when buying a used mobile home.

Many people who opt to purchase used mobile homes are cost-conscious consumers who want to minimize their investment in housing. Therefore, there may be an inclination to bypass hiring an inspector to save a few dollars. Doing so is a mistake, however, as an inspection of any used mobile home you're considering is a must. There are many costs associated with moving into a new home, whether you're purchasing a traditional house or a mobile home. A thorough inspection is simply one of those costs. A good mobile home inspector has the experience to identify potential problems and needed repairs and advise you on their severity before your purchase. Don't skip the inspection, as that small expenditure can save you thousands over time.

When you buy a used mobile home, you may have an idealized preconceived image of what you are getting. Used mobile homes are significantly less expensive than new ones because they aren't in new condition. Don't pass over an excellent used mobile home value because of a minor issue that can easily be corrected. For example, you may pass on a great used mobile home value because of a leaky sink, even though that could be affordably fixed with little effort. While it's wise to avoid used mobile homes that are riddled with problems, don't pass on a fantastic deal because of a minor issue.

Buying a new home, even if it's a used mobile home, can represent an exciting time as you look forward to new beginnings. However, remember that when buying a used mobile home, you're executing a business deal. As such, there's little room for emotion. Some used mobile home buyers make the mistake of falling in love with a home, which can lead to overlooking significant issues or exorbitant pricing. Look at your home purchase, not with your heart, but with your head. Does the price seem reasonable? Are there more problems than you can afford to fix? Make sure to leave emotions out of the equation and use logic and reason to guide your purchase decisions. 041b061a72