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    Mobile Homes in Fenton, MI: Should You Rent or Buy?

    1 year ago · · Comments Off on Mobile Homes in Fenton, MI: Should You Rent or Buy?

    Mobile Homes in Fenton, MI: Should You Rent or Buy?

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    Justin Becker

    Updated: June 7, 2021

    Are you looking for manufactured homes for sale in Fenton, MI? Well, look no further.

    Whether you are thinking about buying a home in Fenton, or renting one in Fenton, MI, you definitely have some exciting options to consider. That being said, before selecting the mobile home of your dreams here in Fenton, MI, it always helps to learn the lay of the land in your future city — Fenton, MI.

    Luxury caravan, static holiday home

    Fenton, a mid-Michigan city, is a quiet area, near US-23, seemingly tucked away from it all. Yet, the city of Fenton is a prime location, with convenient access to major metropolitan areas like Lansing, Ann Arbor, and Detroit. Thanks to this dichotomy, the fantastic city of Fenton, MI is ideal for families, college students, retirees, and people who prefer a more relaxed cityscape, with nodes of rural living — at least on the surface.

    At the moment, there are well over 12,000 people residing in Fenton, MI, so this quiet rural hideaway is not actually so small, or off the beaten path. Moreover, home residences here at Fenton, MI enjoy a diverse selection of employment opportunities, a lively downtown area, great schools, a serious semi-professional cornhole league, Silver Lake Village (the largest shopping district in the city), and so much more.

    Mobile Home with American Flag

    Since the early 1990s, Fenton, MI’s housing market has been steadily growing, along with its population.  As a result, there are dozens of residential home communities throughout Fenton, MI, many of which offer single-family apartment/condo and manufactured/mobile home living.  In fact, several Fenton communities currently have both mobile homes for rent and mobile homes for sale.

    So, how do you know which mobile home in Fenton is right for you? Let’s explore!

    Mobile Homes in Fenton, MI

    Consider What Works Best

    If you have recently fallen in love with Fenton’s suburbia, you may just decide to purchase a mobile home here, in a manufactured home community, Fenton has to offer,  no questions asked. However, before you sign on the dotted line, or the mobile home contract, you should ask yourself a few questions.

    For instance:

    ●       Does your budget suggest that renting a mobile home in Fenton, MI would be the better choice?
    ●       Is your current lifestyle more aligned with homeownership or renting in Fenton?
    ●       Better still, how will this decision impact your future plans, and vice versa?
    New Red Manufactured Home

    Once you have answered these questions, then you should have a pretty good idea of whether you should rent or buy in Fenton. Of course, if you need a concise breakdown of the costs and benefits of both purchasing and leasing a mobile home in Fenton, MI, say no more.

    Types Of Manufactured Homes

    One factor that tends to be overlooked during the renting or buying process is the overall types of available mobile houses for sale in Fenton, MI. If you are like most people, you may be more inclined to purchase a contemporary mobile home, possibly even in a Fenton manufactured home community.

    Michigan Manufactured Homes

    Newer manufactured homes are not your drifter cousin’s mobile home from the 1970s; instead, these are high-end movable homes built in a factory. In general, manufactured homes in Fenton, MI do not stray too far from the conventional.

    In other words, there are single-wide, which are typically 1-2 bedroom/1-2 baths homes, and double-wide, which are typically 2-3 bedroom/2-3 baths homes, available in Fenton. Single-wides are the smallest in sq. ft., and double-wides are approximately double the sq. ft.

    You may even come across the rare, and more tricked-out, triple-wide mobile home, which are by far the largest in sq. ft., and can be a 3 bedroom/3 baths, or even up to a 5-6 bedroom/4-5 baths home, if you are lucky.

    Tyrone Woods Manufactured Home Community

    All in all, the more modern manufactured homes in Fenton, MI actually rival even some of the most beautiful condos/townhouses in the area. Nevertheless, if you have answered all of the important questions about what works best, you should have no trouble deciding which type of mobile home in Fenton speaks to you.

    Furthermore, if you are leaning more towards renting a home in Fenton, MI, the good news is that you can easily find double-wide and triple-wide mobile homes for lease, if you know where to look. Presently, there is a more competitive market in Fenton for mobile homes for sale.

    Costs Associated with Purchasing

    Purchasing mobile homes for sale in Fenton, MI is a great option for growing families and anyone looking to put down some long-term roots here. With that being said, the costs associated with buying a mobile home in or near Fenton, MI are relatively standard.

    Home loan / reverse mortgage or transforming assets into cash concept : House paper model , US dollar hessian bags on a wood balance scale, depicts a homeowner or a borrower turns properties into cash

    Financing is generally needed to purchase a mobile home, and many people tend to choose conventional loans with a 10% minimum down payment. Unlike traditional housing, manufactured housing is seen as a high risk to insurance companies, so interest rates and (mobile home insurance) premiums tend to be higher than average.

    Then again, if you decide to purchase one of these units outside of a manufactured home community, Fenton, MI, ie. in the more rural areas of Fenton, MI, then you might just be able to secure a USDA Rural Development loan. These rural development loans drastically reduce the out-of-pocket expenses/costs associated with buying a mobile home (however, these loans are not so easy to come by).

    Beautiful Mdular Homes

    Other costs you should factor in when you decide to buy a Fenton mobile home is monthly lot rent, utilities, property taxes, maintenance fees, repair costs, and overall depreciation values (applies to mobile houses in manufactured home community parks).

    Benefits of Purchasing

    Clearly, the costs associated with purchasing mobile homes for sale in a Fenton manufactured home community are not too different from that of a traditional house; but manufactured housing does tend to be less expensive.

    Likewise, one of the major benefits of buying a mobile home, in Fenton, MI, is that it’s more affordable in the long run. Obviously, there are upfront costs that don’t apply when you rent a home, but you are still investing in yourself when you choose to buy versus paying rent every month.

    Prefab Homes Michigan

    Another benefit is that mobile homes, near Fenton, MI, on land appreciate in value like traditional homes. Of course, this does not apply to every available mobile home in Fenton, but it is a nice perk.

    Mobile homes in Fenton, MI, are available in communities, parks/lots, and on private land (mobile homeowners can place their home on property they already own, or land still being purchased under contract).

    Mobile Home Cedar Springs

    Regardless of your mobile home’s location in Fenton, they typically always make great starter homes. Also, they are the more lucrative option when you actually crunch the numbers.

    You can even decide to keep your mobile home when you are done living there and use it as a rental property — so it can be a return on your investment. Better still, if you like your mobile home too much to ever part with it, then you can take it with you.

    Costs Associated with Renting

    By now, you probably know the costs included when you choose to rent a mobile home in Fenton, MI, over buying a home. Much like renting an apartment in Fenton, MI, you do not have to worry about a mortgage or property taxes. Rental costs are, therefore, straightforward — rent, some utilities, renter’s insurance, and possibly a security deposit.

    Residential mobile home park

    Thus, if a home with lower upfront costs and more flexibility, when it comes to moving, is where your heart is at now, that’s okay. Renting a mobile home in a manufactured home community, Fenton, MI, allows you to experience all of what this unique city has to offer, without going over budget or making long-term housing plans.

    Benefits Of Renting

    The benefits of renting a mobile home in a manufactured home community, over buying homes for sale in Fenton, MI, are pretty clear. Anyone looking for accommodating and reasonably priced living should seriously consider renting a home.

    Life is a little easier when you decide to rent as most of the upkeep and unexpected costs do not come out of your pocket. Moreover, while renting a mobile home, you can explore the area and save up a down payment for if you ever change your mind down the road.

    Finally, the mobile home rental communities in Fenton, MI aren’t too shabby. These new mobile home areas have shared amenities and are near a variety of everyday conveniences. Ultimately, deciding on a rental or a forever mobile home may seem daunting, but it doesn’t have to be — just take a hard look at what you are trying to accomplish here.

    Tags: Fenton

    Categories: Manufactured Homes

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    About The Author

    Justin Becker is a property owner in the state of Michigan and has a passion for managing communities. He owns both apartment complexes and mobile home communities and has been writing his own blogs for his properties for several years.
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