Recommendations To Help You Through A Mobile Home Purchase

Posted on: 27 October 2021

The process to buy and own your own home can come with a great deal of decisions in the type of home you want, its price, and how much you can afford. A mobile home and its reduced price in today's market makes home ownership a more realistic goal for you. So when you are considering a mobile home purchase, here are some recommendations to help you in its search and purchase.

Look For Financing

As you head out to find the right mobile home to purchase, you will need to consider the funds in order to purchase the home. Model homes come in varying ages, sizes, and prices, and you can purchase the land it comes sitting on along with the mobile home, or you can buy a mobile home and find a location to place it later. 

Look for financing from your bank or credit union, as their requirements for getting a mortgage for a mobile home can vary. You might find that the mobile home will need to be attached to a permanent foundation in order to get a mortgage on it. Otherwise you can look at applying for a personal loan because many banks will consider a mobile home personal property and not real estate. However, you can also look for financing from the seller or buy directly from a mobile home retailer, as they can provide financing for your purchase. Keep in mind that if you finance it from a mobile home retailer, you should negotiate on the purchase price in total including delivery and installation fees, then look at negotiating the financing terms after you agree on a full purchase price.

Plan For Placement

If you are paying cash for a mobile home, remember to plan for where you will place your mobile home. If you already have a property for the home to sit, budget for delivery, utility connections and hook-ups, and any updating to the home once it sits in place. You may need to install a septic system on the property, connect to city gas and electric, or order a propane tank and delivery service.

However, you can also place your mobile home in a mobile home park, or buy a home already set up in a park. This option allows you to live in an established neighborhood with community features, such as a park or playground, a swimming pool, or other common areas you can enjoy. 

For more information on mobile homes, contact a seller such as Kerman Mobile Homes.