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Mobile Homes Pros and Cons | Manufactured Homes - YouTube
Channel: Kristina Smallhorn
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so you're thinking about buying a
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manufacturer at home well there are some
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pros and cons to buying a mobile-home
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and we're gonna be talking about them
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today it's take a tip Tuesday hi my name
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is Christina small horn your real estate
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whisperer
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and today I wanted to talk to you about
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manufactured homes it's one of those
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things here in Louisiana we have lots of
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them and there always is the question is
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it a good deal for you so today we're
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gonna go through all the pros and cons
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of purchasing a mobile home so you can
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make the right decision for you so let's
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just jump into the pros of course the
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first Pro that most people look at it is
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the money and if you look at it price
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per square foot it's about 50 dollars
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per square foot to buy a brand-new a
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mobile home and of course if you're
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gonna buy a brand-new house it's about a
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hundred and seven dollars per square
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foot that's a huge savings when you're
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buying a mobile home you're just buying
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the home itself and not the piece of
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land underneath it so you definitely
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want to put that in consideration if you
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want to go ahead and purchase a mobile
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home and roll that into your costs so
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that you can compare it to a traditional
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stick-built home oh wait before I forget
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there's one more thing you need to know
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if you purchase a mobile home from a
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buyer from a previous owner and you go
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in the house and you see there's a plate
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on the wall that has all these official
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numbers on it
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do not remove that plate it's imperative
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that you keep that for future reference
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so when you go to sell your home they
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can look at those numbers you need to
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keep that so do not remove that plate in
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your house another Pro is technically
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you can move the thing if you don't like
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where you live and your neighbors
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driving you crazy you can technically
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move the earth of manufactured home to
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another location I want to give you a
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word of warning if you do move your
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mobile home from one location to another
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location that can ruin the chances for a
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future buyer to purchase your home with
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a loan FHA and VA are have the strict
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guidelines once that mobile home has
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found its location and the tongue and
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axle have been removed that house cannot
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be moved again and they will not finance
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it so just remember once the property
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has been
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with the land you cannot move the house
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in the future so technically yes you can
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move it but make sure you follow the
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right guidelines so that way in the
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future you're going to be able to sell
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your mobile home so you're not really
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sure if you really want to purchase a
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whole piece of land to take care of
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yourself well there's lots of mobile
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home communities that are available all
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over the Louisiana and all over the
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country for that matter and they offer
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things like swimming pools and even golf
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courses and community parks so that's
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definitely a pro of owning a mobile home
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[Music]
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since one of the main reasons that most
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people buy a mobile home is the cost
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it's also a big perk that the taxes that
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you would pay on a mobile home is going
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to be a lot less because it's considered
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personal property and not like a
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traditional stick-built home you would
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actually pay a lot more in property
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taxes for those particular properties
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because you're paying not you're paying
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for the house and the land underneath it
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so that's another pro of owning a
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manufactured home
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[Music]
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another Pro to having a manufactured
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home is believe it or not energy
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efficiency over the last several years
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manufactured homes have actually become
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more energy efficient than some regular
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stick built homes that have the poured
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concrete they have improved on their
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quality and safety over the years much
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more than some of the regular standing
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houses this is a definite Pro when it
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comes to owning a manufactured home so I
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know that like the stigma is that these
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things fall over like matchsticks and
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whenever there's a windy storm that
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there's going to be a problem with us
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something that owns a mobile home
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so do your due diligence and find out
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and do a little investigation when it
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comes to mobile homes and the quality of
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the mobile home that you're thinking
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about purchasing and you know look for
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any kind of recommendations online with
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certain manufacturers of mobile homes in
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throughout the country there's many of
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them 121 when I looked at 121 different
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plants make mobile homes here in the
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United States if you would like to put
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your manufactured home in a mobile home
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community you may have a problem in the
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future with the rising cost of renting
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the space where your mobile home sits
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it's just like renting an apartment you
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can't expect them to keep the price
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steady it's always going to go up
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because the cost is to run the facility
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goes up so it's almost like paying an
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HOA fee but it's one thing to consider
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when you're deciding to put your mobile
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home somewhere is how much are the fees
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going to be when you park it and how
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much do they go up on a regular basis so
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you found the perfect mobile home and
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you found the perfect location but they
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don't have to accept you in that
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location some mobile home communities
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have restrictions that you have to apply
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to be accepted into their facility so
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keep that in mind too when you're
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deciding if you want to buy a mobile
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home and put it in a mobile home
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community
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one of the biggest disadvantages to
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owning a mobile home is that they really
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rarely increase in value so it's almost
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like buying a car when you drive it off
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the lot it's going to depreciate in
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value now I know that in the future when
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you go to sell these things and you've
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had it on a piece of land that you've
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had for years the value sometimes does
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go up but that's because the land has
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sold for a lot more in the area so the
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increase in value actually comes from
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the land that it sits on I know it's
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really disheartening for a lot of people
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that in the future when they go to sell
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their property they haven't actually
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increased in value at all in some cases
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I've even seen that where they actually
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had to sell it for less money than what
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they purchased the mobile home and land
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for it's one of those things you're
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gonna have to really consider when
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you're purchasing a manufactured home
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you can get VA in FHA lending when it
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comes to purchasing a mobile home even
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one that's been a resold but there's a
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few restrictions you're gonna have to
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follow when you park your manufactured
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home and its new location you're gonna
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have to make sure that the tongue and
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axle have been removed make sure you
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save all the paperwork from when the
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house was parked in its location and
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like I said earlier you cannot move that
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location at all so if the house had been
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moved
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you're not going to qualify for FHA and
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VA with that being said there's plenty
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of local credit unions that will do that
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kind of financing they'll consider this
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a personal loan and the interest rates
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are generally a little bit higher than
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they would be for like at FHA or VA
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lending so definitely keep that
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consideration especially when you want
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to go sell your manufacturer at home
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[Music]
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this is a pro-ana con you're gonna have
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to plan to maintain your house so always
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seal up your windows check for caulking
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around any kind of fixtures in the
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bathroom and always maintain your house
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with seals around the doors and windows
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so it's just like a regular home you're
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gonna have to maintain it just the same
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so if you're not into maintaining it
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maybe a mobile home isn't for you and
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neither is a house
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speaking of mantaining a home I've done
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some videos on how to maintain your home
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before you put it up for sale so you may
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want to watch that video right here if
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you want to know more about buying homes
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in some ways that people have made some
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mistakes you're gonna want to watch this
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video right here and always make sure
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you like share and subscribe so you
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don't miss bye next real estate tip my
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name is Christina small Warren your real
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estate whisperer and I tell you all this
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because you matter
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