Owning a home is something most Americans strive for and begin dreaming about after landing a job that realistically has the chance of providing the funds and financing to make such a purchase.
In today’s fast-paced world, we have more options than ever when purchasing homes.
Not only do you have choices about which kind of home to buy, but you can even get financing approved in 2022 simply by clicking a few buttons on your computer. Pretty crazy, right?
Manufactured housing has become more appealing to homebuyers due to lower prices, and floor plan options have begun to open, intriguing the market more than ever.
Not to mention, a long-standing negative view of manufactured homes and mobile home purchasing has already started to subside.
The question we want to cover today is whether a manufactured home can be considered a single-family home?
Can a Manufactured Home Be Considered a Single-Family Home?
Manufactured housing has become much more attractive to the homebuying segment of the population.
Especially those who are just beginning careers and have less money for a down payment than required to purchase a single-family home.
Manufactured homes have also become much more appealing.
Some individuals may be looking to downsize because kids have moved out of the house, or perhaps they are planning retirement in a more desirable state or location. Learn why downsizing to a mobile home may be the right choice for you here.
The reasons manufactured homes have become more appealing vary depending on the buyer.
To understand if and why a manufactured home can be considered a single-family home, it is essential to understand what precisely a manufactured home is.
What is a Manufactured Home?
So, is a manufactured home a mobile home? Manufactured homes often get lumped into the same group as mobile homes. While some qualities are very similar, and the resemblance may be relatively strong, that is not quite the case.
Manufactured homes are prefabricated and assembled in factories and then shipped to the location where they will be used or where someone will reside. Often inside of communities that feature all manufactured homes.
Manufactured homes are much improved compared to mobile homes of the past.
Post-1976, (HUD) Department of Housing and Urban Development raised the standards for mobile homes, and mobile homes started being classified as manufactured homes. See HUD Code for manufactured homes.
This is the same year that VIN (Vehicle Identification Number) became a requirement for mobile homes.
It is also important to note that a manufactured home and a modular home do not follow the same codes or standards.
Modular homes must follow local, city, and state guidelines, while manufactured homes are held to the Federal (HUD) guidelines.
Simply put, before 1976, you would have considered purchasing a mobile home, but manufactured homes are the correct terminology in today’s world.
Manufactured Homes: A Truly Great Option for Many
While some basic options to consider such as double-wide or single-wide homes are still at play, things have certainly changed a lot with manufactured homes, and for the better.
Manufactured housing in 2022 is beginning to look just as appealing. They have stylish designs, much like any typical single-family home (see mobile home vs. stick-built).
Nowadays, you can purchase a manufactured home with many floor plan options available to you. You can even opt for a newer, more expensive interior.
Why stop now? Choose your exterior designs, shop manufactured homes by size or square footage, and add other desirable characteristics to the house, such as metal roofing. Learn how long a roof lasts on a mobile home here.
It is all possible with manufactured homes!
Manufactured homes today also offer other desirable features that most single-family homes have.
Examples include homes with master bathrooms, full–size or walk–in closets, and good–sized front and backyards. Yard space will depend on other factors we will discuss shortly, but the point here is simple…
10-15 years ago, manufactured homes may not have carried the same unique traits you can find with single-family traditional homes. In today’s world, though, they do.
Most would agree that in 2022, the differences can be hard to distinguish and that manufactured homes can offer nearly everything you can get with a traditional single-family house.
While it is certainly true that a manufactured home can be considered a single–family home, it does not come without some considerations. Considerations we believe are essential to keep in mind during your home-shopping phase.
Purchase Considerations with Manufactured Homes
Want to know what to look for when buying a manufactured home? When making a purchase on your first home or maybe your retirement home, a lot should be looked at and factored into the decision.
Some primary differences between manufactured homes and traditional houses should be considered. One of the biggest things to remember is that manufactured homes are not like mobile homes of the past. They aren’t mobile, so to speak. Yes, they can be moved, but they rarely are and are typically bought and placed to remain in one spot, permanently.
Financing a Mobile Home May Be Difficult
While it is not impossible, you may find that it is more difficult to find a mortgage lender for a mobile home because it is not considered “real property.” It is actually considered personal property.
Banks love “real property” and something they can use as collateral against you in the case of default.
This does not mean it can not be done, but the guidelines and requirements needed to do so may be much more stringent than purchasing a single-family home and own land.
Finding a Permanent Destination for Your Home Needs Considered
If you purchase a manufactured home, you will look for a permanent resting spot.
Think of it more like a permanent foundation for your mobile home than having the freedom to up and leave whenever you choose.
Most individuals who purchase a manufactured home will look at various manufactured home communities in their desired area.
You will want to look at an area that not only features the manufactured housing community you are looking for, but also offers recreational activities you enjoy. Learn the benefits of a manufactured home land-lease community here.
Maybe you and your family prefer an area with great dining and food, or perhaps you are looking for a place with some of the best golf. Of course, this will depend on your lifestyle, but it should not be overlooked.
As we discussed before, you may also prefer a community that offers a yard. This is especially true for younger couples looking to purchase a manufactured home to save money, but still can offer some of the biggest benefits you gain when you purchase a traditional single-family home.
Perfect Example of a Great Manufactured Home Community
You also have the option in Tyrone Woods to lease or purchase, making it attractive to various buyers in different financial situations.
A manufactured home community like Tyrone Woods Manufactured Home Community offers all the benefits we have discussed thus far.
In a community like this, you can choose floor plans that offer 1,500 square feet or more than 2,000 square feet.
Tyrone Woods also offers floor plans that include:
3–Bedrooms
4–Bedrooms
These floor plans are not common with modular homes in Michigan and offer plenty of space for your personal property.
The homes in Tyrone Woods also offer many amenities that may be desirable for a new homebuyer. This can include central air, heat, and enough yard space to include manufactured home sheds. These are things that you won’t even find with some traditional single-family homes.
Clearly, manufactured homes in communities like Tyrone Woods offer tons of the same benefits you can find searching for a normal home, but will ultimately cost you less.
Other Benefits and Downsides of Manufactured Homes
Manufactured homes offer some unique benefits, but also come with a few downfalls compared to other housing options you can consider.
It is essential to have a clear understanding of your options.
Choose Features and Options Inside and Outside Your Home
Choosing your finishes and options for a manufactured home is nice. The options are much more robust today than in the past with mobile homes.
It can be built to your preferences, or you can look at current manufactured homes already for sale.
While you can technically do this with a single-family home, the process is much more streamlined with a manufactured home. Learn more about how double-wide mobile homes are built here.
Affordability and Pricing for Manufactured Homes Can Be Beneficial
One of the most significant benefits of a manufactured home is, hands down, the pricing.
Manufactured homes are much more affordable than traditional single-family homes. If you are shopping for a home on a budget, don’t need a ton of living space, and have fewer individuals living in the house, a manufactured home may be a great option.
On the flip side, you need to think about the available leased-land and where you will live once you have decided on a manufactured home. Renting space will add extra costs to your home. You could always lean towards options such as finding a great manufactured home in an established community like the Tyrone Woods.
Another downfall worth mentioning is that currently, a mobile or manufactured home does not rise in value as quickly as a traditional single-family home, on average. While this would not be a big deal for those intending on living in their home forever, it could be a factor to consider if you have a short time horizon for how long you plan to live in your manufactured home. Learn how to increase the value of a manufactured home here.
Ultimately, Options are Limited with Manufactured Homes
While manufactured homes are being produced faster and more efficiently than ever, at the end of the day, you still have limited options when it comes to your home purchase.
Compared to a single-family traditional home, you will not have the same customization options.
While options are still available and you can change out finishes with higher end materials, the overall customization options are not as robust and you may have community guidelines in your area to abide by.
Final Thoughts: Manufactured Homes May Be the Perfect Purchase for You
Manufactured homes have evolved and become much better in recent years. While they do not resemble the mobile homes of the past or equate to exactly what you get from a single-family home, they certainly make for a great option to save some money and still get a great living and community.
Manufactured homes may have not had much social approval in prior years, but in today’s world the demand is high for manufactured homes and the options are becoming endless.
If you are considering a move or need to shop available properties and manufactured homes, check out the homes available at Tyrone Woods Manufactured Home Community today.
Mobile homes, now more commonly referred to as manufactured homes, offer affordable housing in areas with otherwise expensive housing options.
What is manufactured housing you ask? Manufactured homes refer to homes built off-site at a lower price than traditional houses. Manufactured homes offer mobile home floor plans, but they can also resemble traditional homes.
Most people buy manufactured homes instead of renting, meaning the owner owns the property after they pay off the cost of the home. Buying a manufactured home resembles buying a traditional home in many ways; but there are some special considerations and challenges that come with the sale of a manufactured home. Learn more here in our guide on how to buy a manufactured home:
Introduction
A manufactured home is a home that is built in a factory and then transported to the designated location. It does not contain a permanent foundation. A permanent foundation must be installed on-site before the transport of the manufactured home, if it is to be used.
Manufactured homes typically use lighter (and less expensive) building materials in the home construction process, making them easier to move. It is also cheaper for companies to mass produce them in a factory. For these reasons, most manufactured homes cost 10%-35% less per square foot than site-built homes.
Manufactured homes must adhere to U.S. Department of Housing and Urban Development (HUD Code) regulations regarding construction. The building codes for manufactured homes are slightly different than those for traditional homes or site-built homes.
You can buy your manufactured home through a real estate agent, a manufactured home retailer, a manufactured home builder, a manufactured home community, or a private seller. Checkout the top mobile home dealers in Michigan here.
It is important to note that the home does not come with the property. You will need to buy land yourself or rent land from a manufactured home park.
While sometimes used interchangeably in error, a manufactured home is not necessarily a mobile home. The term “mobile home” refers to manufactured homes built before June 15, 1976. Mobile homes did not hold up as well back then as they do now, so mobile homes did not get the best reputation in the 60s and 70s. Hence, the introduction of the Manufactured Housing Institute, HUD Code, and the change in name from “mobile homes” to “manufactured homes.”
A “modular home” is a home made off-site in different pieces than assembled on-site. Unlike mobile homes, modular homes are made to be installed on a permanent foundation, and modular homes adhere to traditional building codes instead of the HUD Code for manufactured homes.
There are two main types of manufactured homes: a single-wide manufactured home or a double-wide manufactured home. As the names suggest, the single-wide is thinner (15 ft. wide on average) than the double-wide options (25 ft. wide on average). Double-wide manufactured homes offer significantly more space, however they are also more expensive and more difficult to move. Learn more about the pros and cons of a double-wide here.
Pros and Cons of Manufactured Homes
Manufactured homes come with a lot of advantages. Namely, they are cheaper than most traditional homes (see mobile home vs. stick-built). They also typically offer high energy-efficiency, keeping utility bills low. Owners also have the opportunity to move them more easily, although they typically stay in one place. Manufactured home construction is quick, and the homes take up little space, making them ideal in areas with high urban development.
With that said, manufactured homes also deteriorate more quickly (see how long do manufactured homes last to learn more). The inexpensive materials can not hold up to the elements as well. Furthermore, if the manufactured home does not qualify for a traditional mortgage, owners may end up paying higher interest rates. Finally, some people think manufactured homes come with a negative stigma.
Manufactured homes are a great option for families on a budget. While the home may not survive more than one or two generations, it is a cost-effective way to avoid paying rent in favor of home ownership.
How to Buy a Manufactured Home
There are a couple of things you need to know before buying a manufactured home. We will take you through the process of buying a manufactured or modular home step-by-step:
Step One: Get Manufactured Home Financing in Order
The average single-wide manufactured home is $64,500. The average double-wide home is $120,300. However, you will also need to pay for the plot of land the manufactured home will sit on. In most cases, these are separate charges, so budget properly.
Since most people can not afford the total cost of the manufactured home upfront, they take out one of the available manufactured home financing options, including manufactured home loans.
There are two types of real property manufactured home loans that people can take out for a manufactured home that most closely resemble a traditional mortgage. These loans cover both the land and the manufactured home purchase (if applicable). They also cover modular homes, as would most traditional loans.
MH Advantage Program
AN MH Advantage Program manufactured home loan by Fannie Mae resembles a traditional mortgage. To qualify for the loan, the manufactured home in question must be installed on a permanent foundation and on a permanent chassis. Only manufactured homes and modular homes with the “MH Advantage” sticker qualify. The borrower only has to pay 3% down (i.e. $1,500 on a $50,000 home). The borrower will also need a minimum credit score of 620.
CHOICEHome Program
The CHOICEHome Program through Freddie Mac also offers a traditional mortgage for manufactured homes that are considered “real property.” While similar to the MH Advantage plan, this manufactured home loan covers more properties. However, the borrower will need to pay 5% down (i.e. $2,500 on a $50,000 home) instead of 3% down.
There are also manufactured home loans available through the government:
USDA Loans
The United States Department of Agriculture offers loans to farmers who need modest shelter as they start their farming business. The home must be considered a “real property,” and it must be located in a designated “rural” location. Furthermore, it must be the owner’s primary residence.
VA Loans
VA loans help veterans secure financing for housing. These Veterans Affairs loans are designed specifically for Veterans as a thank you for their service. The qualifications tend to be more relaxed than most loans. Furthermore, the interest rates tend to be much more reasonable.
FHA Loans
The Federal Housing Administration offers homes on wheels that don’t qualify as “real property” known as FHA loans.In this case, the loan is for “personal property” as opposed to real estate. While it covers many manufactured homes not covered under other options, the interest rates tend to be higher than normal.
Additional manufactured home loans available include:
Chattel Loans and Personal Loans
Chattel loans are similar to auto loans that use private property as collateral. Essentially, if the borrower defaults on the chattel loan, the lender can repossess the property. Since chattel loans are designed for mobile vehicles, it is one of the only loans that stay intact if you decide to move the manufactured home. Learn how much it costs to move a manufactured home here.
Chattel financing loans allow you to take out money for a number of reasons, meaning there are less regulations on what you do with the personal property you acquire with it. However, a personal loan or a chattel loan will have a higher interest rate.
Dealer or Owner Financing
In some cases, you can get financing through the dealer or the original owner of the home. Dealers tend to offer higher rates than most other options.
While you may find a great deal through a private seller, the situation leaves you open to the possibility of fraud. Always ensure the owner actually owns the property. Furthermore, you should get the agreement in writing. You can also get the loan insured in case of a disagreement or default by the seller.
Step Two: Ask Yourself Some Basic Questions
Before you start looking for a manufactured home, you should ask yourself some basic questions to help you determine how to start your search.
Do you want to buy new or used?
The life expectancy of a manufactured home is an average of 55 years, with the potential to last a lot longer if properly maintained. Many people prefer to buy a new manufactured home since they do not last especially long. You will also have the option to make decisions about the home.
On the other hand, a used manufactured home will cost significantly less. Plus, new manufactured home development takes time. You will also have to pay for the transport of the home to its final destination. Learn how to find used mobile homes for sale here.
Do you want to buy or rent a plot?
Many people associate manufactured homes with mobile home parks. However, 63% of new manufactured homes are actually delivered to private land. In the case of owning land, you only need to pay taxes each year after it’s paid off.
You will pay dues at a mobile home park community for the entirety of your duration there, along with taxes on your mobile home. Lot rent works similarly to rent at an apartment. You will sign an agreement for a specified duration of time and pay monthly.
The average cost of lot rent around the country is $380 per month. However, nicer manufactured home communities will charge more. Plus, the manufactured home community may come with amenities not available at your private property, such as free trash pickup and a community pool.
Some of the most popular manufactured home parks in Michigan include:
Do your research to determine the best manufactured home park for your needs. Do not forget to read reviews. Furthermore, if something sounds too good to be true, it probably is!
Step Three: Talk to a Manufactured Home Retailer
Once you clarify your basic needs, you can talk to a real estate agent or retailer who specializes in manufactured homes.
A realtor will be able to show you different homes that fit your unique needs. You will be able to tour the homes before you make a purchase.
If you do not find anything that fits your needs, the realtor can help you choose a plot while you wait for a new customized manufactured home to get made.
You may be able to talk to a manufactured home real estate expert at a manufactured home community as well. However, it is important to remember that they only work with properties in their park.
Step Four: Finalize the Sale
Once you find the perfect setup, you will get to finalize the sale of your new manufactured home. You will sign the purchase agreement and provide all the details regarding your financing.
Before you finalize the sale, you should perform a walkthrough with the assistance of a professional inspector. The inspector will ensure that the home is not only up to code, but as advertised. The inspector can also give you insight into any problems that may come your way in the next couple of years.
After you pass the inspection, you will put the down payment into escrow. This acts as a promise of your intent to pay for the property. You will then meet with the seller to sign the final paperwork. After you sign the final paperwork, the funds in escrow go to the seller, and the keys go to the buyer.
Congratulations! You have finalized the process of buying a manufactured home!
Step Five: Hook Up Utilities
You will need to hook up the utilities to your new home. In some cases, you will get garbage or certain utilities as part of rent at the manufactured home park. Always know what to expect before you agree to live at a certain location.
Utilities typically include water, gas, and electricity. To simplify things and stay as energy-efficient as possible, stick to all electric appliances and avoid the gas hookup and gas bill altogether.
Plumbing for mobile homes is unique compared to traditional real estate. Most manufactured homes use a septic system instead of connecting to the city’s water waste treatment program. The septic system may already be in place in a mobile home park, or you may have to install a new one.
You will also need to hook up cable and internet. Some communities will provide internet for free in common areas if you don’t need the internet more than a couple of times a week.
Step Six: Buy Insurance
You will own your manufactured home once you finish making payments, unless of course you pay cash for it. You will not have to make payments on the home anymore, but you will have to cover expenses for repairs, even in the case of an accident.
Even if you live in a manufactured home community, the rent will not cover repairs to your home in most cases. That is why you will need insurance. In fact, you won’t be able to get a traditional mortgage without insurance already in place.
Your insurance will cover your home for up to a certain amount under specific circumstances.
Since manufactured homes tend to find themselves more vulnerable to damage than traditional homes, insurance may be limited. Clarify the details of the agreement before you sign on the dotted line and make sure you know about wind zones for manufactured homes.
When you shop around for homeowner’s insurance, consider bundling with your auto insurance. Also, compare value over price. The cheapest plan may not necessarily be the best plan. If you need assistance with this, you can always get quotes from Assurance IQ.
Buying a Manufactured Home at Tyrone Woods Manufactured Home Community
Tyrone Woods Manufactured Home Community offers affordable mobile homes for sale in Fenton, MI in a prime location for anyone who wants to enjoy the natural beauty that Southern Michigan has to offer.
We can help you find your dream modular or manufactured home in Fenton, MI!
Perfect for golf enthusiasts, Fenton, MI has numerous golf courses to enjoy. It is also a pet-friendly community. Do not forget to visit the local farmer’s market to get fresh cherries and apples, along with other produce.
Parents will love that the local Linden Community Schools has 96% of students being college-bound.
When you have just graduated and are starting out in your career, there probably is not much need for a large living space in Fenton, MI. Once you have established yourself a bit and are thinking of settling down, it is the perfect time to look for your dream home.
Not only does this mean a little more space to accommodate a partner, pets, and even kids, but it is a place to call your own. This is where you will put down roots, make memories, and generally enjoy life in Fenton, MI.
The Main Issues with Getting a New Home
Of course, finding your dream home in Fenton, MI is not as easy as just looking at homes for sale. You need to have a decent budget, a variety of suitable options, and available spaces in places that fulfill your requirements. For professionals and students, it is important for them to stay relatively near their places of work or education. For parents with kids, it is essential to have safe neighborhoods that also have a good schooling system.
The biggest hurdle to getting your perfect new home is the budget; traditional stick-built houses and even apartments are now way out of reach for someone who wants to own their home (see apartments in Fenton, MI).
While renting is always an option in Fenton, MI, many folks want their own home in their name. Not only is this a good investment for their savings, but it prevents the losses one can incur from eviction or hiked-up rent demands.
On the other hand, buying a house is also risky. The mortgage payments can be backbreaking and you don’t get much choice in where you are located.
Possible Solution to the Housing Crisis
If you are looking to avoid the issue that comes with renting or buying traditional homes, take a look at mobile or manufactured homes for sale. There is Cider Mill Crossings and several other choices to consider in Fenton, MI.
Are you looking for manufactured homes for sale? Do you want a larger place than your current mobile home? For some, downsizing to a mobile home might be the right choice.
There are several choices to make when it comes to looking for mobile homes or the right manufactured home community. Within the state of Michigan, you might find many mobile homes for sale. Cider Mill Crossings and Clark Modular Homes might be places to consider before settling down. However, their location, size, or neighborhood might not always be up to your standards.
To be assured of getting the most suitable choices, make sure to go with only the top double-wide mobile home dealers in Michigan. If you are in Fenton, MI, though, we highly recommend Tyrone Woods Manufactured Home Community above all. Let’s now have a look at this particular manufactured home community and see why it is such a great option:
Location
The exact location of the Tyrone Woods Manufactured Home Community is 8378 Hogan Rd, Fenton, MI 48430. Cider Mill Crossings is also in the same zip code, however we firmly believe that Tyrone Woods surpasses options like Cider Mill Crossings in every way.
Top Reasons to Choose Tyrone Woods Manufactured Home Community
When you are looking at manufactured homes or mobile homes for sale, you do not want to compromise on anything. While a manufactured home may be much more cost-effective than a stick-built structure (mobile home vs. stick-built), it is still quite a major investment. In an ideal situation, your new home should have the perfect location, friendly neighbors, privacy, and a whole lot more.
At Tyrone Woods Manufactured Home Community, we strive to offer everything you can dream of in a new home in Fenton, MI. There are a lot of things you should know about living in a double-wide mobile home. So, feel free to ask away! Just remember, the perks of getting one of our mobile homes for sale include the following:
1. Affordable Sale and Rent Prices
Our Fenton, MI mobile homes are available for both sale and rent at affordable, reasonable rates. You might be on a budget and not expect to get anything except the bare minimum considering the price of housing these days. Compare our prices with that of similar communities, such as Little Valley Homes or Cider Mill Crossings, and you will see the difference in both prices and value.
Down payments
The down payments here can be quite low. Talk to our management and you might be surprised at how quick you can acquire your home here in Fenton, MI.
Comparing Houses and Double-Wide Homes
Of course, the comparison between our mobile homes and traditional homes is even more glaring. To help you out, here is a discussion of which is better: houses or mobile homes for sale?
2. A Pet-Friendly Policy
We understand that a new home won’t be a home if your furry or feathered family is not included. This is why we have a generous mobile home community pet policy for our Fenton, MI community. There are a few limitations, restrictions, and nominal fees to consider, but the policy is overall a welcoming one for all ages in Fenton, MI.
3. Awesome Amenities
The amenities available at Tyrone Woods are second to none. They are comparable to those at places like Cider Mill Crossings, Little Valley, Fenton Lake Estates, and other communities in Fenton, MI.
Not only will you have a beautiful new home in Fenton, MI, but you can also have a comfortable lifestyle with the many amenities available (learn what is included when buying a new manufactured home here). There is central heating and cooling here for each unit, and they include sheds. The manufactured home sheds themselves provide a decent bit of extra storage space.
One More Perk
Another perk of getting a new home in this Fenton, MI community is that you can get your own 2-car parking pad. The water filtration system is quite new too. It serves the whole community with an aim to foster better health.
4. Strategic Location
The location of Tyrone Woods in Fenton, MI is about an hour’s drive from Detroit, while Flint and Ann Arbor are just half an hour away. When Fenton, MI, gets to be a little quiet, it is relatively easy to hop in your car or catch a bus to the nearest happening city spot. There are also paved roads leading to the community. Downtown Fenton, MI is also within a very short distance.
5. Nearby Shopping Centers
When you are in Fenton, MI and in a good location, this place can give you the best shopping spree. There are no less than three top shopping areas in Fenton, MI, and they are all near the Tyrone Woods community. These are North LeRoy, Silver Parkway, and Dibbleville (see Downtown Fenton, MI Shops). There is something to suit every shopper’s taste, so don’t think that Fenton, MI is a boring place. There are clothes shops, spas, florists, bookshops, and thrift stores all within easy reach.
How are We Different from Other Manufactured Home Communities in Fenton, MI?
Fenton, MI is no stranger to people living in mobile homes, manufactured homes, and other alternative forms of housing. In addition to Tyrone Woods, there are also the Fenton Oaks, Lake Fenton Estates, and Cider Mill Crossings communities to consider in Fenton, MI. Here is a quick glance at why one should consider the manufactured homes at Tyrone Woods in Fenton, MI before any other:
This is among the top few manufactured home communities that provide new models of mobile homes for sale in Fenton, MI
We have a large variety of sizes in our mobile homes, going all the way up to 2,200 square feet (as compared to the majority of Michigan mobile homes, which are just 1,000 square feet or less)
None of the mobile homes for sale here in Fenton, MI are less than 1,500 square feet
Each unit in this Fenton, MI community has at least 3-bedrooms and 2-bathrooms each (the only other community comparable in this area is Cedar Mill Crossings)
The management at the community makes sure everyone is as comfortable as possible; as a result, all the Fenton, MI mobile homes have vinyl siding for aesthetic and waterproof purposes
There is also focus on making these Fenton, MI homes better for health than in places like Lake Fenton or Cider Mill Crossings; to this end, there is a new water filtration system available for the whole community
We also care about the cooling system in your new home. So, there is central air conditioning in most manufactured home in the community
The Takeaway
When you are looking for a nice new home in Fenton, MI, Tyrone Woods is happy to be of service. Whether you do not live in Fenton, MI yet or want to move from the nearby Cider Mill Crossings community (see Cider Mill Crossings vs. Tyrone Woods Manufactured Home Community), Tyrone Woods can fulfill all your housing requirements. We will welcome your pets, your family, and your future dreams with open arms. So, reach out today and book a tour!
There was a time when manufactured homes were less than desired, especially due to poor quality and safety standards. However, after 1976, the HUD Code for manufactured homes was established to guarantee the safety and quality of these homes. For this reason, many people started embracing manufactured homes.
Even though manufactured homes are cheaper, there is so much involved in purchasing one. For instance, proper research and a reliable budget are necessary to land the best deal.
So, what exactly should you consider or look for while purchasing a manufactured home? Keep reading to find out.
What to Look For when Buying a Manufactured Home
There are several things to look for when buying a manufactured home. However, before we look at them, do you know what manufactured housing is?
These are prefabricated or factory–built homes that are transported and temporarily or permanently fixed to a certain piece of land. They are an upgrade to traditional mobile homes, and their design conforms to the HUD Code for quality and safety purposes.
Manufactured homes nowadays have features similar to site-built homes (see mobile home vs. stick-built). It is a common thing to find desired items, like energy-efficient appliances and walk-in closets, in manufactured homes, along with top-quality shared amenities in manufactured home communities. See our top 10 manufactured home communities in Michigan here.
How to Buy a Manufactured Home
The manufactured home financing and purchase process is different from buying a site-built home. Lenders consider these homes personal property, not real property, especially when placed on a temporary foundation. For your information, getting a loan is easier with a real property than with personal property.
Manufactured home financing loans work more like car loans and not like traditional mortgage loans. This means that you will need a higher down payment and better credit score to get approved for the loans.
With that said, the situation changes when mobile homes are placed on a permanent foundation. In such a case, a buyer can get a VA, FHA, or other government backed loan.
Now let’s move on to what you should look for when buying a manufactured home:
The Condition of Both Used and New Manufactured Homes
As we mentioned already, today’s manufactured homes have greatly improved in terms of structure, design, and energy-efficiency features. This is because they are designed and developed under the strict HUD Code from the Department of Housing and Urban Development.
Therefore, as long as you are buying a manufactured home that was built after 1976, ensure a good structural design and condition.Learn more about how mobile homes are built here.
Below are things to look out for as far as manufactured home condition is concerned:
Foundation
This is critical, especially when buying a mobile home already in a manufactured home community (learn how to buy a mobile home already in a community here). Look for tilting or sinking piers that could be pulling away from the mobile home structure.
At times, tie-down straps could be loose. If this is the case, avoid purchasing such a manufactured home, no matter the price.
Windows and Doors
Ensure that the manufactured home doors and windows are aligned well within the home, which will enable you to close and open them with ease. If they are not, there may be a foundation issue.
Roof
If you neglect the roofing of a manufactured home, you might experience leaks, especially after heavy rains or melting snow. Whether you want to purchase a used or new manufactured home, ensure the roof is well designed and leak-free. Find out how long a roof lasts on a mobile home here.
Plumbing
When installing a manufactured home, you will only have to connect it to the main plumbing system in the manufactured home park. Therefore, ensure that there is proper piping in the home and that all of the connections are tight. You need to be careful here, especially with old mobile homes, since they are likely to have old pipes with the potential for bursting.
Electrical Wiring
Just like with plumbing, manufactured homes come fully wired; you just need to connect them to the main power supply. You must ensure the wiring is properly done before purchasing the mobile home.
If possible, have a professional electrician inspect the home. For the case of a used mobile home, try connecting light bulbs to see if they function properly.
Insulation
Make sure your mobile home has sufficient insulation and that it was installed properly. Improper insulation can cause damage to the walls, electrical system, plumbing, and roof. Learn how to add insulation to a mobile home here.
Dryer Vents and Washer Drains
Check that the dryer vent and washer drain are clear and functioning properly. For your information, they are found under the mobile home.
Skirting
You should inspect the skirting on your potential manufactured home. This is a section that helps the home to remain dry and protects the plumbing, too.
Ensure that the skirting does not have gaps or holes for proper venting. The aim here is to prevent rot and mold.
To check the condition of the skirting for your mobile home properly, you may need the help of a professional. Although this might cost you some money, it will be worth it in the long run.
Manufactured Home Design
Before buying a manufactured home, you should consider whether the manufactured home development and design meets your expectations. Several questions remain unanswered here.
For instance, how are you planning to use your manufactured home? How many bedrooms do you need?
Below are things to consider, as far as the mobile home design is concerned:
Manufactured Home Size
Manufactured homes are usually smaller compared to traditional homes. Therefore, any time you want to buy a manufactured home in a park, consider the number of rooms and room sizes.
Luckily, home sellers and factory dealers present generous floor plans, especially for double–wide and single–wide mobile homes. For instance, It is common to get a double–wide mobile home with over 2,000 square feet and four bedrooms.
Be sure that you are buying a mobile home that is spacious enough for your family.
Available and Required Rooms
Here, you need to consider your needs. For instance, would you like to have a storage room or home office in your home? If yes, then you should probably be looking at double-wide manufactured homes.
Your needs for room sizes, especially the living room, depends on your family size. You will need a larger living room if you have a large family. Families with more than five people should consider layouts with two living rooms.
If you love spending more time in the kitchen, you probably should be looking for a spacious kitchen. Also, we recommend going for a more open floor plan that seamlessly flows into the living room.
The best way to determine the perfect number of rooms and their sizes is to evaluate your current living situation. If the rooms are enough, just go for a manufactured home with the same room number and size.
Flooring
Most manufactured homes are designed with unique flooring options, such as laminate, tiles, carpet, or linoleum. We recommend going for durable flooring options, like tiles.
Interior Design
The design of your manufactured home’s interior space will determine the peace you get inside the home. Additions, such as a fireplace and kitchen cabinets (best if they are made by Kitchen Cabinet Kings), will improve the room’s feel and enhance its look. Also, remember that going for a gas fireplace will mean easy installation and maintenance.
Exterior Options
Manufactured homes are designed with various siding options. We recommend high-quality siding thanks to being highly durable and having a high color retention capability.
This is also the time to determine your perfect wind zone rating. Choose a higher rating if you reside in areas with high winds.
Mobile Home Wind Zone Ratings
Mobile homes are designed for different wind zones. When buying a home, ensure that it is compatible with your area’s wind speed and strength.
If you come from a wind zone I area, then the mobile home you buy should be built with a wind zone I rating. For your information, wind zone I covers the largest part of the United States, especially the interior parts where hurricanes rarely occur.
Buying a wind zone I rated mobile home means you will not not need to worry about wind speeds of 70 miles per hour and below.
After buying a wind zone I rated manufactured home, never move it to a higher wind zone area, because it will then be susceptible to damage.
Wind Zone II
Buy a wind zone II rated mobile home if you live in wind zone II areas. This zone is mainly notable in states like Florida. Going for a wind zone II rated home means that your home can withstand wind speeds up to 100 miles per hour.
All wind zone II rated manufactured homes should be restricted to zone II areas in order to avoid the risk of damage.
Wind Zone III
This wind zone is for all manufactured homes in wind zone III areas. Such manufactured homes can withstand a high wind speed of up to 110 miles per hour.
If you come from coastal regions, such as Hawaii, where hurricanes are common, you have no other option but to buy a wind zone III rated home. Having a wind zone I or II rated mobile home in this zone can translate into immediate damage.
Reliability and Reputation of the Mobile Home Dealer
You can only get a top-quality mobile home from a reliable dealer (see the top five double-wide mobile home dealers in Michigan). We recommend looking for the online ratings and reviews of the manufactured home dealers. From this, you can determine the dealer’s reputation and how well they serve their manufactured home buyers.
The best dealers consider the customer’s needs and financial capabilities to offer them manufactured and modular homes that meet their expectations. In most cases, customers also receive a warranty on the mobile home they purchase from the respective dealer.
Apart from having a wide selection of manufactured and modular homes, Tyrone Woods offer a beautiful community to reside at.
For your information, Tyrone Woods Manufactured Home Community has been in the manufactured housing industry for over 20 years and focuses on customer satisfaction over everything else.
Available Mobile Home Loans
Although manufactured homes are cheaper than stick-built homes, buying them might not be as easy as you may think. Therefore, knowing your options and picking the right avenue to obtain the best manufactured home loans would be ideal.
Since different lenders offer different amounts, fees, and interest rates, you need to research the available options to land the best deal.
Let’s go through the loans available for manufactured homes:
Federal Housing Administration Loans (FHA)
These loans are for those exceeding the United States Department of Agriculture’s income limit. Before you take this manufactured home loan, evaluate the available FHA-approved lenders and, if possible, negotiate the lending terms.
FHA loans are available as follows:
● Title I Loans
● Title II Loans
Title I loans are available for any personal property. The land your manufactured housing unit sits on does not have to be your own land, meaning that it could be leased-land (see land-lease community).
The only drawback for Title I is that it offers shorter repayment terms. The maximum amount you can get on this loan is $92,904. However, you will only get this amount if you bought the mobile home together with your own land.
The down payment is 5% which is higher than that for Title II loans. Unlike Title II loans, though, Title I loans are assumable. This means that if you decide on selling the home, the new buyer assumes full responsibility for payments.
Title II loans, on the other hand, cover real property, thus the need to buy both manufactured homes and the land it sits on. You should also have your home on a permanent foundation if you want to qualify for Title II loans. You will also need a down payment of 3.5%.
Only take Title II loans if you plan on making your manufactured home your primary residence. Additionally, you should be ready for loan terms of up to 30 years.
Chattel Loans
Chattel loans for manufactured homes cover any personal property that is set up on land not owned by the loan borrower. Apart from a manufactured home, you can take a chattel loan to cover farm equipment or even a car.
One drawback to taking a chattel loan is that it is smaller than a traditional mortgage. You will also experience higher monthly payments thanks to shorter repayment periods of 15-20 years. Generally, the interest rates for these loans are higher than standard loans, at least 1.5% higher per year.
Veterans Affairs Loans (VA)
If you are a service member or U.S. veteran, you qualify for veterans affairs loans. However, your mobile home must be fixed on a permanent foundation. Additionally, the land the home is fixed on should be owned by the borrower.
Personal Loans
Since a manufactured home is available cheaper than a traditional home, homeowners can secure financing with personal loans. Many people have expressed their love for personal loans thanks to their flexibility. The only drawback is that they come with high-interest rates.
Available Amenities for Used Mobile Homes in a Mobile Home Community
When purchasing a used manufactured home, there is a high chance it is already in a manufactured home park. In this case, you need to consider the available amenities in the park and see whether they meet your expectations.
Let’s review the critical amenities to consider:
Available Recreational Facilities
If you want to buy a manufactured home in a park, consider the available recreational facilities. Such amenities will enable you to keep in touch with your neighbors and build good friendships.
Some of the common facilities you will find include sport courts, swimming pools, clubhouses, and playgrounds. We also recommend mobile home parks that organize common events to improve social engagements.
Pet-Friendly Living
Many manufactured home communities restrict the types of pets you can have. Those that allow pets will most likely charge you a certain fee for keeping them. Only consider manufactured homes for sale in communities that allow pets and have enough space for pet exercise. Also, be sure to review the mobile home community pet policy.
The Available Important Infrastructure within the Manufactured Home Community
Inspect the mobile home to determine whether services, such as gas, water, and electricity, are available without delay. You might sometimes be responsible for paying fees for such amenities.
You should also consider essential infrastructure, such as roads. The available amenities should be able to give you a peace of mind.
Security Outside and Inside the Home
You should prioritize your personal security when buying a mobile home in a mobile home community. Ensure the community has a low crime rate. It is even better if it has extra security features, such as CCTV cameras, security guards, and/or is gated.
As mentioned, you should consider the mobile home condition and design, reliability of the manufactured home builders, wind zone ratings, available financing options, the average sales price, and amenities in the relevant manufactured home community. This will enable you to land a top-quality mobile home at an affordable cost.
Ensure you do not compromise high-quality and expensive homes for cheaper and low-quality ones. Since not all manufactured homes are considered personal properties, investing in a quality one is a worthy real estate investment.
How many times have we watched news and saw mobile or site-built homes wiped out by strong winds? For this reason, many people think mobile homes are not designed to withstand strong winds. The common question many people ask is, ‘are mobile homes safe?’
Manufactured home manufacturers have achieved a milestone in improving their quality and safety. This is where mobile home wind zones come in. According to experts, complying with wind zone regulations ensures your manufactured home withstands strong winds.
For your information, the wind zone represents the wind pressure rating that your manufactured home can withstand, depending on its location. Here, we will help you understand wind zones and their related regulations.
What are Wind Zones?
As we mentioned, the wind zone represents the wind pressure rating (pounds per square foot) that your manufactured housing unit can be developed to withstand depending on the location. Simply put, it is the maximum wind speed that reaches a particular region (miles per hour) and the resulting force it will exert on the manufactured home (pounds per square foot).
Clearly there are different weather patterns and climate ranges across the U.S. The various elevations and regions are responsible for the differences in weather conditions and how wind speeds affect an area. Wind zones are, therefore, created to ensure that mobile homes can withstand the different weather conditions.
Wind Zones for Manufactured Homes
The United States is separated into three wind load zones:
Wind Zone I
Wind Zone II
Wind Zone III
Wind zone III is the most extreme, while wind zone I is the mildest.
Apart from the actual wind speed, experts also consider other effects, such as snow and rain, while zoning a manufactured home. Here is a breakdown of the various zones in more detail:
Wind Zone I
This wind zone covers most parts of the United States. It is most common in the interior parts of the country where hurricanes are rare. This is why wind zone I is the most lenient area where you can enjoy manufactured home living.
This zone is designed to withstand wind speeds of up to 70 miles per hour. The zone covers states such as Louisiana, Mississippi, and Texas. Generally, about 40-50 states in the U.S. can experience wind speeds of 70 miles per hour.
After having your manufactured home built and set in a wind zone I territory, ensure it remains there. Moving it to a higher wind zone risks it being damaged due to high winds. Learn more about how double-wide mobile homes are built here.
Wind Zone II
Wind zone II covers a smaller region compared to wind zone I. The wind zone II homes are designed to withstand wind speeds of about 100 miles per hour.
In most cases, it covers areas with a very high risk of damage resulting from hurricanes. The most notable region covered by this wind zone is Florida.
If you develop a manufactured home in wind zone II, never move it to wind zone III since it will be vulnerable to damage.
Wind Zone III
If you have noticed, the wind speed increases as the number in the wind zone increases. This means that wind zone III can withstand a higher wind speed than wind zone II. For your information, the speed that wind zone III can withstand is up to 110 miles per hour, compared to only 70 miles per hour for wind zone I.
Therefore, wind zone III covers regions where hurricanes are most common. This includes most coastal parts of the U.S., such as Hawaii.
If your home is meant for either wind zone I or wind zone II, avoid moving it to wind zone III to save it from getting damaged.
Zone Types
If you want a mobile home, you must understand the different zones that complement each wind zone. In fact, all mobile homes are required to comply with the HUD Code for manufactured homes.
Below are the common zones you should understand:
Wind Zone
As we mentioned, the U.S. is very diverse, with different regions and states experiencing varying average wind speeds. For this reason, the country is divided into three wind load zones.
You must understand that wind speeds and strengths also vary depending on the time of the year. Before buying and installing a manufactured home, ensure that it is developed to withstand the strength of wind within the zone.
Thermal Zone
Just like the wind zone, the thermal zone also has three categories. The U.S. is a large country with different regions experiencing unique temperature conditions.
For your information, the government employs thermal zones to determine what needs to be grown in different regions. The same applies to the manufacturing and installation of mobile homes.
Roof Load Zone
This is otherwise known as the snow load zone. It determines how steep the manufactured home roof should be. For your information, it affects the amount of snow that accumulates on your manufactured home in case of a storm.
We recommend that you go with the right roof load zones to ensure that your roof withstands the snow weight above it. Learn how long a roof will last on a mobile home here.
Limiting Wind Effect on Manufactured Homes
We all know that building your mobile home in the right wind zone limits the effect of strong winds on it. Additionally, you can take measures to limit the effects of strong winds. Let’s consider them below:
Employing a Foundation
Mobile homes without foundations have been proven to experience the greatest damage when hurricane winds occur. If your mobile home has wheels, we recommend replacing them with a permanent foundation, if possible. Anchoring the home on the ground ensures it will not be blown away, even by strong winds.
Using Tie-Downs
Mobile homes are designed with the potential to be anchored and strapped on the ground using tie-downs. In the event that you live in a manufactured home community and are not able to permanently fix the home to a foundation, we recommend using metal strappings since they offer a higher strength.
Sometimes, the strong wind might not directly affect your manufactured home. The damage could, for instance, result from a broken tree branch falling on the home. Therefore, you must take safety measures to eliminate potential damage from trees and surrounding structures, like carports.
Knowing Your Manufactured Home’s Zone
Understanding the perfect wind zone for your home helps you select a reliable mobile home location. Generally, you are not allowed to put your manufactured home in wind zone II if it is meant for wind zone I.
So, how do you determine the perfect wind zone for your home? First, you need to let a professional mobile home dealer or installer handle everything. They have the knowledge to determine which home is perfect for which wind zone. Checkout the top mobile home dealers in Michigan here.
You can also acquire the relevant knowledge for determining the perfect home for a specific wind zone. As per HUD requirements, every manufactured home should have a data plate with zone details for snow loads, heat, and wind. Find the data plate in electrical panels, bedroom closets, or kitchen cabinets, depending on the make of the home.
If you fail to locate the data plate, request the details from the IBTS (Institute for Building Technology and Safety).
Is the Home’s Wind Zone Rating Trustworthy?
HUD is responsible for ensuring that manufactured home standards, such as safety regulations, are met. They are given the responsibility of protecting home dwellers and not manufacturers.
For this reason, HUD has put in place tests that a manufactured home must meet before approval. Agencies authorized by HUD are the only ones allowed to undertake the tests. Such agencies include:
Any state supervisor
The mobile home manufacturer
The agency responsible for designing load-bearing components
Possible in-plant inspection of the whole mobile manufacturing process
Generally, with such regulations, inspections, and tests in place, you can trust that the mobile home wind zone rating is properly done, and the home can be installed in the area of your choice, accordingly.
Is it Possible to Survive a Hurricane in a Manufactured Home?
When you decide to live in a manufactured home, you need to understand potential risks. We also recommend knowing what to do when a disaster happens. For your information, most manufactured homes are not designed to withstand major natural disasters, such as hurricanes.
For this reason, we recommend leaving your manufactured home and seeking shelter somewhere else after learning of a potential hurricane. This will save you from injuries if strong winds destroy the home.
The Final Verdict
As we mentioned, the wind zone represents the wind pressure rating that your manufactured can be developed to withstand, depending on its location. The United States has three wind zones: Wind Zone I, Wind Zone II, and Wind Zone III.
Understanding the perfect wind zone for your manufactured home can save your home from potential damage. For this reason, we recommend approaching a professional to help you set up your home in an appropriate zone. A professional is likely to provide the required reinforcement to the manufactured home.
If a home is meant for wind zone III, never move it to wind zone I. Otherwise, you risk it being damaged by strong and high-speed wind.
If you finally decide to downsize from site-built homes, which option should you choose between living in a tiny house or a mobile home? Both are similar and present unique living experiences, but how do you decide between the two?
Tiny homes are becoming more and more popular. Just to show you how the tiny house craze is taking off, more than half of Americans said they would be willing to live in a tiny house/tiny home of less than 600 square feet according to a 2018 National Home Builders Association survey.
Similarly, according to the Manufactured Housing Institute, manufactured homes house more than 17 million Americans. This number is expected to grow year after year due to the rising cost of acquiring traditional dwellings (price per square foot).
With all of this being said, it still begs the question: tiny house or manufactured home, which is right for you?
Tiny House vs. Manufactured Home
These two housing options have striking similarities. First, they are significantly more affordable than the average real estate homes. Second, they both offer breaks on taxes, which is a huge issue for stick-built homes. Lastly, they can be customized to suit your preferences.
Having said that, there are a number of differences between tiny homes and manufactured homes. So, before deciding which type of housing is ideal for you, consider analyzing the advantages and disadvantages of each option.
This article includes the pros and cons of both tiny houses and mobile homes in an effort to help you make the right decision for you and your needs.
Size
Size is one of the biggest differences between a tiny house/tiny home and a mobile home. For instance, a tiny house measures anywhere between 100-600 sq. ft. On the other hand, mobile homes can measure anywhere between 600-2,500 sq. ft.
This shows that mobile homes are a suitable option if you desire a larger floor plan, while tiny houses are a smart alternative if you want a self-sufficient dwelling.
Regulation
Generally speaking, manufactured housing is regulated under the HUD Code for manufactured homes, which was passed in 1976 in order to raise the standards for mobile homes (such as energy-efficiency, see energy-efficient manufactured homes). The manufactured homes of today are very different from the mobile homes (traditional RV) constructed before 1976.
Unlike mobile homes, however, tiny homes may be built without additional building codes compliance due to their small sizes. This gives you the freedom to be a lot more creative with these types of residences.
Mobility
As the name suggests, mobile homes are in fact mobile. Even though it can be time-consuming and costly to move your manufactured home, it is certainly doable.. Learn more about how much it costs to move your mobile home here.
On the contrary, tiny residences are fixed permanently to the ground, thus making them completely immobile. So, if you do need to move for whatever reason, you will need to go through the hassles of selling your tiny home.
Cost
The cost for tiny homes vary depending mainly on the size, materials, and land it sits on, among other factors. That said, you can buy a tiny home for as little as $10,000 or as high as over $150,000; but expect to pay around $60,000, on average.
Manufactured homes are factory built within a controlled environment/assembly line. This means that the manufacturing of these homes are seamless and efficient. It could take only a few weeks before your home is complete. Learn more about how long it takes to build a manufactured home here.
In contrast, depending on who is building them, tiny homes could take less time or more time to construct. Many factors play a role in how long it takes to build a tiny home/tiny house, including the time it takes to design the home, inclement weather, and the speed of materials arriving. None of these factors have any effect on the speed of a mobile home being built.
Aesthetics
Aesthetically, mobile homes have less flexibility compared to tiny homes. Typically, mobile homes are single-story dwellings, come in the usual box shape design, and may feature a deck (here are some examples of deck designs for manufactured homes). Tiny homes, however, offer more flexibility in design; so you get more of a say on what your house will look like. These different design options can be in regards to shape, number of stories, and materials used, among other factors.
Tiny Houses for Families
Before settling with tiny houses/tiny homes, here is what you need to know about their advantages and disadvantages.
Pros
Clutter-Free
Generally, tiny houses offer less living space, meaning you have less storage spaces for your belongings. This pushes you and the family to be more organized and avoid clutter. This can also help you to keep a neat house due to not needing as much time to clean.
Environmental Sustainability
Tiny houses are eco-friendly because they require fewer resources to construct compared to other forms of housing, such as traditional real estate homes. It is also common to use solar panels with these homes due to their size.
Cons
Less Space/Tiny Home Living
One of the biggest disadvantages of tiny houses/tiny homes is living space. If you have a bigger family, a tiny house will not be an ideal choice. This element makes a tiny house a far less attractive option compared to mobile homes.
Completely Immobile
As stated earlier, if you need to abruptly move, tiny homes can not move with you, like mobile homes can.
Less Storage
You might not have as much storage space as you would want in a tiny house because it has less floor space. Living in a tiny house may require you to sell other household items or even purchase items that are specifically made for the space.
Single Bathroom
Since a tiny house has less living area, it could feature a single and smaller bathroom only. For families, this may be chaotic. That said, a tiny house could be ideal for individuals without families, such as a single person or young couple.
Mobile Homes for Families
Numerous factors, including affordability, contribute to the popularity of mobile homes. It does have certain drawbacks, though, so you should weigh the advantages and disadvantages of manufactured home living before making a purchase.
Pros
More Affordable
Mobile homes are typically less expensive than site-built homes (see our guide on mobile home vs. stick-built here). For instance, a traditional house could cost you as high as $300,000, while a used mobile home could cost you as little as $25,000 (learn how to find used mobile homes for sale here).
Larger Floor Plan
There are several sizes of mobile homes, including single-wide manufactured homes, double-wide manufactured homes, and even triple-wide manufactured homes, often known as multi-section homes.
Mobile homes tend to offer expanded living spaces, so if you desire additional space, you can buy a multi-section home and take advantage of more room just like in a typical home.
Community Living
Many mobile homes are located in mobile home parks, and most mobile home parks promote community living. Often, a community has several communal amenities on offer, such as clubhouses, fitness centers, and swimming pools. Also, it is typical for park management to organize events that bring the people living within the community closer. Checkout our list of top manufactured home communities in Michigan here.
In addition, most mobile home parks are closer to downtown areas, making them easier to access the city centers compared to traditional homes, which are commonly found in more suburban areas.
Offers Flexibility
Mobile homes are more flexible compared to site-built homes. Today, owning a mobile home makes moving easier since the home can go with you. However, if you live in a traditional real estate property, you will not be able to do that and may have to put your house on the market first.
Cons
Depreciation
Over time, the value of mobile homes are known to decrease because they are considered personal property. It is even more concerning that there can be an issue when reselling a mobile home. With that said, here are ways to increase the value of a manufactured home.
Non-Traditional Financing Options
Due to manufactured homes being considered personal property, you are unable to finance them using a traditional mortgage (unless it is permanently fixed to the land). This can sometimes make it more difficult to finance these dwellings. However, with the right information, it can be a lot easier than one might think. Learn how to finance a manufactured home here.
So, Which is Better: Tiny House vs. Mobile Home?
Weighing the above pros and cons, we can ultimately conclude that living in a mobile home is the better option. Mobile homes offer more advantages, such as larger floor plans, affordability (this could help you to achieve financial freedom), and community amenities.
Final Thought
Mobile homes and tiny homes are similar, but each offer different advantages as well. A tiny house/tiny home could be ideal for you if you prefer a smaller living space. However, if you want to enjoy more space and community amenities, among other things, a mobile home would be perfect. With the recent economic turmoil, mobile homes are expected to provide alternative housing options for many Americans.
You might find yourself accumulating a lot of stuff from time to time during your manufactured home living experience, which may prompt the need for extra storage space. You will find that you can not store certain items, like lawn mowers, in your home.
For this reason, we recommend having a manufactured home shed. So, which is the best shed to get?
This article provides information about mobile home sheds and why you should get one.
Manufactured Home Sheds
Should you get a manufactured home shed? Absolutely! It presents many benefits, as we will go over below:
Why You Should Get a Shed
They are Cost-Effective
One advantage of a mobile home shed is that it is a great bang for your buck. For instance, you can acquire a high–quality one for as little as $5,000, and that is on the high end. This is way cheaper than a decent mobile home.
In fact, you do not need a mortgage to purchase a mobile home shed. A few months or years of savings should be enough to land a good deal.
A Shed is Easy to Build
First, manufactured home sheds are very small compared to the home’s size. This means that you can construct them pretty easily, as long as you know what you are doing. So, you can complete everything yourself or have a professional help you out.
You Can Gain an Additional Living Space
Whether you need storage sheds, additional living space, or a guest room in your compound, a finished shed could be what you need. Rather than adding a section to your manufactured home, which could be highly expensive, buying a shed could serve the above purpose, depending on the size of course.
You Can Move the Shed Around
Just like a mobile home, a shed is also mobile. You can have the shed on wheels and move it when you see fit. For instance, if you decide to move your mobile home to another location, the shed can come with you. Learn how much it costs to move a manufactured home here.
They Take Up Very Little Space
While a standard mobile home might have over 1,000 square feet, an average shed occupies only a few hundred square feet of space. Those with a small compound or lot have no reason to worry.
Blends In Well
If you have used a mobile home shed before, you understand that it blends well with the surroundings. You can either build them to look natural or to match your mobile home.
The sheds are also small, therefore difficult to notice. Since they are more versatile, you can easily place them at a spot that fits with the surroundings.
Additionally, they reduce the carbon footprint since fewer natural resources are used to develop them.
Considerations while Selecting Storage Sheds
There are different mobile home sheds you can consider to store your things. Let’s go over them below:
Shed Styles
Storage sheds are available in different styles. You need to have a specific style in mind before making a purchase. Below are the different styles you can select from:
Phone Booth Shed
If you want a small shed to add extra storage space, this is the best option you have. The “phone booth” shed is a 4x6 shed that does not take up a lot of space on your lot.
Luckily this is a shed you can build by yourself. If you can not build it yourself, you can easily find it in any local mobile home improvement store around your area.
We recommend keeping your out-of-season flowerpots and garden tools in this shed. You can also fill it with storage containers to turn it into an outdoor closet.
Clubhouse Shed
This mobile home shed is larger than the “phone booth” shed. In most cases, it is almost twice the size of a “phone booth” shed.
You are likely to love it thanks to the stained wood exterior. The most striking feature of this shed is the porch, which runs the entire length of the shed’s front.
Pent Roof Shed
This mobile home shed is named “pent roof” thanks to its simple and slanted plane. The shed has shutters, vinyl siding, and windows on each center door side.
Since there are different storage shed types on the market, consider the below factors to select the best option:
Other Shed Styles
Saltbox
Modern
Lean–To
A–frame
Barn
Workshop
Craftsman
*Checkout all different styles and similar ideas using the free Pinterest app. Just simply create a Pinterest log-in and start scrolling.
Construction Material
The material used to design your storage shed determines its aesthetics and durability. It can also impact your budgeting plans.
Most sheds are designed with either of the three materials below:
Wood
Steel
Resin/Plastic/Vinyl
For your information, steel sheds are more economical than wooden ones. They also come in various colors. However, wooden sheds are sturdier and more stylish.
Costs and Your Available Budget
The amount you will spend on a shed will depend on a few factors, including materials used to design the shed and the distance to be moved from the store (if pre-built).
Prepare a higher budget if you would like customization, like quality windows or electrical connections. Generally, the price of sheds range from $350 to $4,500. Ensure you budget well for everything to avoid overspending.
Size
After determining your storage requirements, you can decide on your perfect size. Generally, you can go for a small, medium, or large shed.
Small sheds are typically under 80 square feet and, thus, are the cheapest. They are ideal for storing bikes, garden tools, among other items of this size.
There are medium sheds that range between 90 to 120 square feet. Things you can store here include mowers, wheelbarrows, and other bulky equipment.
Finally, we have large sheds that measure between 100 to 300 square feet. They are the most expensive and they function more similarly to garages.
Accessories
Select a shed based on an accessory you would like to have. For instance, the shed should have ramps if you want to store wheeled equipment. If visibility inside the shed is of importance, ensure it has windows. To organize tools well, there should be shelves. Bottom line is, identify your requirements and ensure the shed has the relevant accessories.
Weather Patterns in Your Location
Consider different weather elements, such as strong winds and heavy rainfall, while selecting a shed. For instance, steel and wood are ideal in areas with strong winds, so avoid using plastic sheds in such areas.
The Final Verdict
When you find yourself accumulating many things in your manufactured home, buying a shed can offer you extra space. A shed offers several benefits, including being able to free up space inside of your home and making your yard look nice and neat.
Before purchasing a shed, however, follow the considerations we have highlighted. Just do not compromise quality for cost.
Typically, manufactured homes sit 18” to 30” above the ground, with the stairs leading up to the door. With that said, the stairs alone frequently fall short of providing the home with the desired aesthetic appearance.
A deck is frequently an enticing spot to unwind with your family when the sun comes up. Often, a deck provides an additional outdoor living space, allowing you to leave the door open and go back and forth.
If done properly, a deck construction or addition to your home frequently enhances the appearance of the manufactured home (learn more about manufactured home living pros and cons here). Furthermore, decks and porch designs increase the value of your home when selling it. Checkout our guide to selling a manufactured home in Michigan here.
Deck Designs for Manufactured Homes
Site-built homes typically have a larger living area, along with costing an arm and a leg to purchase. On the other hand, the living area in mobile homes is smaller, but the good news is that expanding the living space by building a deck is quite inexpensive.
So, how can you find the ideal deck design/porch design that perfectly complements your house when there are so many available porch design variations? In this article, we will discuss the different types of porch designs that you can use to enhance the appearance of your manufactured home.
The Traditional Porch
Do you still have in mind the old-fashioned porch designs with stoops and wraparound? Of all porch types, the traditional porch (covered porch) is by far the most basic.
Generally speaking, traditional porch styling or porch designs are not subject to any specific rules. While thinking about porch ideas or deck ideas, consider a spot for an afternoon sleep; add a hammock, furniture, and a table, among other things, to make the area more attractive. Also, adding plants is a good way to improve the aesthetic of a porch.
Wrapped Deck or Porch
When it comes to mobile homes, this is among the common porch designs. Typically, it may be a covered porch (meaning it has a porch roof) that encircles a piece of the mobile home. It may be a screened-in porch or a regular porch, but it takes up a substantial portion of the home.
Screened–In Mobile Home Porch
Screened-in porch designs are also popular in the mobile housing industry. Generally, screened-in porch designs are perfect for places that experience high humidity to protect you from harsh weather conditions and mosquitos. You can enjoy outdoor living with a screened porch without being concerned about someone invading your space.
The Above Ground Pool Deck
Generally, the above ground pools are less expensive than an underground pool. If you have an above ground pool in your backyard, imagine a deck that wraps around it in your backyard.
This makes for a seamless transition from your inside life to your outdoor pool life.This is the aesthetic appeal an above-ground pool deck adds to your mobile home/manufactured home.
How Much Does it Cost to Add a Deck to a Mobile Home?
A mobile home deck will typically cost you between $5,000 and $10,000. Your deck’s final cost will depend on its size. You can, for instance, anticipate paying anything between $23 and $110 per sq. ft., on average. Additionally, the cost of the material will range from $11 to $70 per square foot.
Are you going to have the roof or not? A manufactured home porch and a deck vary in that a porch has a roof, while a deck does not. Therefore, the price will significantly increase if you wish to install a roof. For example, adding or replacing porch columns will cost you $300 or $400 on average. Also, when constructing a mobile home/manufactured home porch, consider the type of roof you want: a pitched roof, flat roof, or a gable roof?
Another factor that can dramatically increase the expense of constructing a manufactured home porch is labor. For example, labor will cost you anywhere between $11 to $40 per sq. ft. That said, you have a better chance of saving money if you can do it yourself (DIY).
So, you might want to perform the groundwork yourself, including tearing down the entire porch (outdated one), if need be, and clearing the debris from the area to make room for the new building. By doing this, you will pay less for labor overall.
Can You Buy Pre–Built Decks?
Yes, you can buy a pre-built deck for your mobile home/manufactured home. Find a reliable pre-built deck dealer and get a customized deck for your home. The good news is the building process for most dealers can be completed within a day. Checkout our list of top 10 mobile home dealers in Michigan here.
Having said that, if you have a specific design in mind and want to make it a reality, a dealer will assist you in breaking everything down from the beginning and constructing the required deck out of a range of woods.
By adding a deck, you can increase the speed at which your property sells, as well as boost the popularity of your backyard as a destination for social gatherings.
What is the Ideal Deck Size?
According to several builders, a manufactured home porch should not occupy more than 20% of the total square footage of your house. It is important to keep in mind that this is only a suggestion and not a rule. Your choice to exceed that number is entirely up to you.
Keep Your Local Code and Regulations in Mind
Just like site-built homes, mobile homes are subject to local building codes. So, before you start any building project, make sure the planning complies with the local building guidelines. For example, many local codes or ordinances require that all the mobile home porches that are high off the ground to have railings. Adding railing to mobile home porches also increases the cost of building the deck.
Tips for any Mobile Home Curb Appeal Project
You must be aware that site-built homes and mobile homes have different governing laws when it comes to curb appeal projects. That said, here are tips you need to know before beginning your renovation or manufactured home porch construction.
Understand What You Own: The Parts You are Responsible for
Placing a mobile home in a park makes it clear that you are leasing the land and are, therefore, paying a lot rent rather than owning it (learn what is the lot rent for a mobile home park here). That said, mobile home parks often have rules and regulations that govern the community. For instance, the extent of the changes you can make to your mobile home may be limited.
In site-built homes, you have the freedom to make any kind of changes so long as it complies with the local building guidelines. However, when it comes to mobile homes, you and the park manager each have a specific role. You might discover that even landscaping is the park manager’s responsibility rather than your own (learn about manufactured home maintenance tips all homeowners must know here).
So, before you begin your project, consider understanding your role as a resident in the community.
Ask for Permission Before Doing any Renovations
The landlord or management company sets the rules for what you can and cannot do if you rent the land rather than own it (learn the benefits of a mobile home land-lease community here). The interior and exterior of the mobile home may both be off limits for further changes.
That said, before starting any of your home enhancement projects, the majority of mobile home communities demand that you submit a request for authorization. You should not worry about receiving clearance as long as you adhere to the community’s rules.
The majority of mobile home parks include rules governing things like interior architectural changes, in-ground landscaping, and painting, among other things (Need help maintaining a manufactured home? Read up on our tips here).
When Planning for Curb Appeal, Keep Everything in Mind
Typically, mobile homes and site-built homes have different positioning (checkout our guide on mobile home vs. stick-built). For instance, mobile homes often have their entrances on the side, unlike site-built homes. So, you must think about a strategy that takes the whole home into account.
DIY vs. Working with a Contractor
Are you going to work with a contractor or DIY? No matter if you work with a contractor or not, mobile home porch designs require careful planning (whether it is your front porch or backyard porch).
You must make such decisions as soon as possible because they affect the price of improving your home’s attractiveness. Having said that, hiring a contractor will cost you some money, but doing it yourself may be more of a hassle.
Keep in mind that splitting tasks can save you money that you would otherwise spend on labor, even though you might not be able to complete the entire project on your own. Decide which types of jobs, like tearing down an old deck or clearing the site of the debris before new construction, you can complete on your own without the help of a contractor.
Final Thought
When it comes to manufactured home porch designs, there are many alternatives. All you have to do is conduct an attempt to explore the kind of alternative that best fits your preferences.
If you want an above-ground pool deck, a wraparound deck, or a screened-in porch, find out how much they will cost overall and whether their price falls within your means.
Are you interested in purchasing a mobile home in a park? If that is the case, you might be asking how to do it as a first-time mobile home buyer. Purchasing a mobile home in a park is not the same as purchasing a mobile home and putting it on your own property.
For starters, if you place a mobile home in a park rather than in your own yard, you will save a lot of money in the long run on things like repair and manufactured home maintenance. In addition, mobile home parks include amenities you would not get if you place your home on your own property.
Living in a manufactured home community means you will pay a lot rent (learn what a lot rent for mobile home park is here), just like you would in an apartment, but in this case you would be earning equity.
How to Buy a Manufactured Home in a Park
Buying a mobile home in a park may seem intimidating initially, but it is not so different from purchasing a traditional site-built home (checkout our mobile home vs. stick-built guide). The difference is that you will pay a lot rent every month. On average, a mobile home lot rent is about $500 per month. However, a lot rent can significantly vary, costing up to $900 depending on location.
Having said that, we have put together a comprehensive guide on buying a mobile home in a community. Let’s dive in:
Understanding Your Purchasing Needs
If you are planning on acquiring a mobile home in a community, start by determining your budget and purchase requirements. Do you want a home that is a single-wide, double-wide, or triple-wide? Each home is priced differently, so your ability to pay will influence your purchasing decision.
Single–Wide Mobile Home
A single-wide house is ideal if you live alone and prefer a basic lifestyle. It has a smaller floor plan, but gives you the feeling of living in a mobile home. On average, a new single-wide home offers 600 to 1,300 square feet and costs around $40,000, on average. On the other hand, a used mobile home will cost you $10,000 to $25,000, on average (learn how to find used mobile homes for sale here).
Single-wide manufactured homes are the smallest and least priced of all the manufactured home alternatives. It has a width of 18 feet or less and a length of 90 feet or less.
Double–Wide Mobile Home
A double-wide manufactured home is made up of two single-wides joined together. It offers a much bigger living space compared to a single-wide home.
A new double-wide home costs $75,000, on average, while a used double-wide costs $50,000-$60,000, on average. Learn about the pros and cons of a double-wide here.
Triple–Wide Mobile Home
A triple-wide home is far more costly than a single-wide or double-wide manufactured home. Compared to the others, it does provide significantly more floor space, with the largest measuring 3,000 square feet. Triple-wide mobile homes/manufactured homes cost at least $100,000, on average, with some going for as much as $250,000.
New vs. Used Manufactured Home: Which Fits Your Budget?
Before you buy a manufactured home or consider how to get one, you must first determine the type of home that fits within your budget. Is it a single-wide, double-wide, or triple-wide home? Find the perfect balance based on your purchasing demands and financial situation, then look into additional mobile home characteristics.
A used manufactured home is typically less expensive if you don’t have the financial means to obtain manufactured home financing. When purchasing a used manufactured home, however, you must exercise caution. You do not want to buy a house that requires a lot of repairs and will cost you a lot more money.
Tips for Buying a Mobile Home in a Community
Not every mobile home park/manufactured home community will suit your lifestyle needs, so you must know how to find the best home park to purchase your next home.
That said, here are some tips to use when looking for a manufactured home in a park.
Visit Several Mobile Home Parks
Some mobile home parks have poor customer service, tarnishing the reputation of mobile homes and manufactured homes. As a result, you do not want to sabotage your first experience living in a mobile home park/manufactured home community by picking the wrong one. To evaluate customer service, visit a few parks and look up their online reviews.
Talk to Residents
One of the most important things you can do when visiting parks is interviewing a number of residents and asking them about their experiences living in the area. You should probably reconsider joining that mobile home park if there are more complaints than compliments.
Referrals from Friends and Family
Family and acquaintances can help you locate your future mobile home to a large extent. Learning about the park firsthand from someone who knows it better than you is preferable. That said, family and friends can give you referrals to some of the most reputable mobile home dealers within your desired location. Checkout our top five manufactured home dealers in Michigan.
Review the Manufactured Home Community Rules and Regulations
The rules of mobile home parks differ, which is why you should ask the park manager/park developers for further information before considering purchasing a home, because they are responsible for managing communities.
Choosing a park with more rules (HOA establishes community rules) is preferable to one with fewer rules, despite the fact that this may seem paradoxical. The purpose of the rules is to keep residents in check, which allows them to live in harmony. Imagine living in a park where dogs roam freely without leashes and their owners?
Pet–Friendliness
If you have four-legged friends, consider the pet-friendliness of a mobile home park. The majority of mobile home communities welcome pets and allow them on their premises. However, there are common restrictions, such as the number of pets allowed, usually two, and the breed type. Just be sure to review the mobile home community pet policy before committing.
Benefits of Buying a Mobile Home in a Community
Why should you choose a park-style mobile home? The following are some advantages of living in a manufactured home neighborhood.
Privacy
Most apartment renters face a hard time when seeking privacy. The small living space does not help either. Furthermore, because only a wall separates you, it is easy to be disturbed by loud music from your noisy apartment neighbors.
A mobile home park includes the lot that you rent monthly. In most cases, the distance between you and your next door neighbor is reasonable, allowing you to enjoy your privacy.
Affordability
Many Americans cannot afford to buy a site-built home, which is why mobile homes or manufactured homes have become increasingly popular. On average, traditional real estate homes often cost over $200,000, while mobile homes/manufactured homes cost less than $100,000. Learn the answer to ‘should I build a house or buy a manufactured home’ here.
Manufactured Home Community Living
Most mobile home parks frequently offer events that bring people together and encourage community living. This is hard to come by in apartment complexes and individual residences. That said, parks may be an ideal setting for raising a family.
Less of a Maintenance Role
In private residences, repair and maintenance costs can become overwhelming. This is due to the fact that the property owner is responsible for any and all repairs. In contrast, a mobile home owner often has fewer repair and maintenance costs. Typically, the manufactured home community management has a dedicated team who provides park maintenance at a lower rate.
How to Finance a Mobile Home in a Park
Even though mobile homes/manufactured homes are up to 30% more affordable than traditional homes, that does not imply you can pay for them all at once. You still require financing to secure the manufactured home. However, you must understand that mobile home financing differs from real estate home financing.
Here are some manufactured home financing alternatives you can use to secure your next home:
FHA Loan
FHA is a loan program backed by the U.S. Department of Housing and Urban Development (HUD). However, the Federal Housing Administration (FHA) does not make loans directly to consumers; instead, it insures loans made by approved FHA financial institutions. So, if you default on your loan, the FHA will be liable for paying the lender what you owe.
FHA loans need only a 3.5% down payment, which is much less than the typical 20% required by traditional mortgages.
FHA loans are divided into FHA Title I and FHA Title II loans. The FHA Title I loan can be used to finance just the house, whereas the FHA Title II loan can be used to secure both the house and the land.
FHA loans, like any other type of loan, have eligibility requirements that the borrower must meet. The manufactured home, for example, must be your primary residence rather than a secondary residence.
Here is a breakdown of the loan amounts FHA offers:
Mobile home only: $69,678
Mobile home lot: $23,226
Mobile home and lot: $92,904
Lenders have varied interest rates, so you should shop for the best loan arrangements.
Chattel Loan
Chattel loans for manufactured homes are another alternative you can use to buy a manufactured home in a community. Chattel loans are considered personal property loans because they are used to buy high-value properties, such as boats, farm equipment, planes, and mobile homes. Unlike FHA mortgages, where the government guarantees the loan, a chattel loan uses the property as security.
If you default on the loan, the property will be sold to cover the debt owed to the lender, much like a standard site-built home loan.
The best part about chattel financing (personal property financing) is that it does not require the home to be attached to private land, like a VA loan. VA loans only finance the home together with the land; so if you have your own parcel of land, they can offer financing for the home.
Typically, in comparison to other types of mobile home financing loans, chattel loans have a higher interest rate, which could be 5% or higher. Although you will have to pay a greater monthly installment due to the higher interest rates, the good news is that you will be able to pay off the loan in a shorter period of time.
Personal Loan
Personal loans can easily offset the asking price of a mobile or manufactured home because they are cheaper. For example, a new single-wide home costs roughly $40,000. Personal loan lenders offer up to $50,000, with some going as high as $100,000, so you could easily cover the asking price.
It is important to be aware that personal loans do not use the property as collateral. Instead, the lender will charge a higher interest rate to lessen the risk of default. Personal loans tend to have higher interest rates than other types of loans, such as auto loans and mortgages.
Factors to Consider when Buying a Mobile Home in a Community
Here are some points to consider if you are looking to buy a manufactured home in a community.
HUD Code Compliance
Before buying a house, hire a home inspector to ensure it is up to code (HUD Code for manufactured homes). That said, consider purchasing a manufactured home constructed after the HUD Code was implemented in 1976. Moreover, most lenders prefer to lend to customers who purchased a mobile home property built after 1976.
Mobile Home Age
If you want to buy a used mobile home, consider its life expectancy (manufactured home construction year). You may be purchasing a home nearing the end of its useful life. Old mobile homes often require regular repair and maintenance, which could cost you more money. Learn what is the life expectancy for a manufactured home here.
Mobile Home Financing
Do you meet the requirements for a mobile home loan? This is one of the first questions you should ask yourself. Lenders frequently have a set of requirements that every borrower must meet, such as credit score and credit history.
Most lenders require a credit score between 580 and 620 to be considered for a loan. With that said, there is no need to panic if your credit score falls below the minimum. You can still get a loan, but it will be more expensive because you will be charged a higher interest rate and pay a higher down payment.
For mortgages, traditional lenders need a better credit score. The greater your score, the better the terms you will be able to negotiate. Learn more about what credit score is needed for a mobile home here.
Home Levelness
A home inspector can assist you in determining whether the house is properly leveled. Unleveled dwellings frequently cause property damage that will necessitate additional costs to repair. The plumbing, as well as the doors and windows, may be affected by this.
Look for Signs of Water Damages
Where you see water, it could signal that the home has plumbing issues or that the roofing has worn out and needs to be replaced (learn how long a roof lasts on a mobile home here). Plumbing issues are the biggest enemy of mobile homes, or any other type of housing. Water leaking can substantially damage your property; so as soon as you notice a leak, call a plumber to remedy the problem.
Door Frames and Windows
At least half of your monthly energy bill is devoted to heating and cooling. A home that has problems with its window and door frames may have a higher energy bill because it allows more air into the house, requiring more energy to heat or cool it.
As a remedy, check the door and window frames for air spaces and fix them using weather stripping or caulk. You ultimately want energy-efficient manufactured homes only.
Locate the HUD Plate
The HUD plate (usually red in color) implies that the home is built following industry standards.
The State of the Flooring in the Home
Before buying a house from a previous owner, inspect it and look at the flooring condition. If the floor is in poor condition, this could help you negotiate a lower price. Is there a buckling floor in the house? Is there water damage? When inspecting a house, these are the items you should check for.
A mobile home is an excellent investment if you want to save money while still getting the benefits of a traditional home. Typically, a manufactured home is up to 30% cheaper than a traditional site-built home. Furthermore, if you place your home in a community, you could have access to amenities such as a swimming pool, clubhouse, and playground.
Buying a manufactured home will not be suitable for you if you often relocate; instead, consider renting a manufactured home or an apartment. Rent-to-own mobile homes could be a good option, too.
Final Thought
Buying a manufactured home in a community is a huge investment that requires careful consideration. You want to make sure the house is up to code, level, and has good flooring, among other things. In addition, make sure you will be able to cover your mortgage payments monthly.
Manufactured homes have grown in popularity as a result of their low cost. Nevertheless, they are costly enough that you may need to take out a loan to pay for them.
Having said that, in order to acquire the loan amount required, you will need a good credit history to persuade the lender that you are a less risky borrower, which will help you negotiate better mortgage terms.
In general, lenders differ, which means that loan terms will differ; nonetheless, every lender wants a decent borrower responsible for their money. This is why they are always concerned about a credit score.
What Credit Score is Needed for a Mobile Home?
Typically, most lenders will require minimum credit scores of 580 to 620 to buy a mobile home. If you have a score below that range, you can still get a loan, but the interest rates will be substantially greater than if you have a good score. Checkout the advantages to buying a mobile home vs. renting.
A credit score can be affected by things like missing one payment or having too many inquiries on your credit status. Pay bills on time and fix any errors on your credit history to avoid negatively impacting your score.
If you want to improve your loan terms, you will need to adopt a cautious and smart approach to maintaining your score. For example, automate your bills to avoid late payments or totally forgetting the payments.
That said, let’s dive in and talk in length about credit scores and manufactured homes.
Why Credit Score is Important when Purchasing a Mobile Home
A credit rating is used to establish how risky of a borrower you are, which helps the lender calculate how much money they are willing to offer you and on what terms. When compared to a borrower with a lower credit score, having a higher credit score typically means you will be able to get more money.
Can You Buy a Mobile Home with a Low Credit Rating?
Yes, you can purchase a mobile home with a low credit score (bad credit). A good score can help you get better loan terms (lower interest rate), but it is not the only thing lenders look at when deciding whether or not to lend to potential mobile homeowners.
That said, how crucial is a score when applying for a mobile home loan? Let’s break down what a score is in order to comprehend its role better.
● Payment history – represents 35% of your credit rating
● What you owe or the amount of debt – represents 30% of your credit score
● The type of debt account – represents 10% of your credit score
● Length of history – represents 15% of your credit score
● New credit – represents 10% of your credit score
As shown above, your payment history is by far the superior factor in determining your score. One missed payment can significantly impact your credit score, and it takes more than one payment to repair.
Your debt is also another important factor that can make or break your score. Most lenders use the debt-to-income ratio to determine whether or not to approve your credit application. This is used to evaluate whether or not you will be able to repay your loan.
That said, while you are worried about other things, remember that your debt-to-income ratio, just like a credit score, represents your financial health.
How to Repair Your Credit Score Before Buying a Mobile Home
What if you want to raise your score? Is it possible to fix a lower score or bad credit? A simple answer is yes. It is feasible to improve your score and, hence, your chances of receiving better loan terms (such as lower interest rate) in the future. With that said, this is a lengthy process that requires consistency and financial discipline.
Here are ways you can fix your bad score:
Check Your Credit Score and Report
Begin by requesting your score and credit report from the credit bureau. Three credit bureaus are in charge of ranking and preparing your credit report. They are as follows:
1. Equifax
2. Experian
3. TransUnion
Although most creditors report to all the three bureaus, sometimes that is not the case. This is why your score might be different from one bureau to another. As a result, it is critical to double-check all of the information from the three bureaus.
Does checking my one score damage it? No, there is no need to be worried because checking your credit score is considered a soft credit inquiry.
Fix or Dispute Any Errors
The reason that the three credit bureaus often give you different ratings is due to the fact that they sometimes make mistakes that affect your score. This is why you must examine the three reports to see whether or not there are any inaccuracies so you can correct them. You can dispute them to the relevant bureau and have them corrected, if need be.
Always Pay Your Bills On Time
Paying your bills accounts for 35% of your score. So, if you want to improve your score, this is where you should concentrate your efforts. If you have a habit of forgetting to pay your bills, we recommend automating them. If you have bills that are not automatable, attempt to pay them as soon as you receive them.
Most people have problems with paying bills because they don’t budget their spending well. This is a tailor-made recipe to mess up everything. That said, make your monthly budget and schedule your payments to avoid penalties.
Pay Down Other Debts
The best way to reduce your credit utilization ratio is by paying some debt off. You can do this by either focusing on credit cards with the highest interest rates or focusing on repaying credit cards with lower balances.
Do Not Take Out Credit Unless You Need It
Whenever you apply for a new credit card, the creditor will run a hard credit check and that can potentially impact your score. That said, only apply for a new credit card if you really need it.
Keep Your Credit Utilization Ratio Below 30%
A credit utilization ratio is a good metric creditors use to determine how well borrowers manage their finances. A credit utilization ratio is measured by comparing your credit card balance to your credit card debt limit. If the ratio is less than 30%, we can say you are better off.
Keep Old Credit Cards Open
Do not be quick to close your old credit cards after paying them off. Keeping them open will help you solidify your credit history/credit reports, potentially raising your score. With that said, if your credit card issuer charges an interest rate, you may be better off closing them than keeping them open.
How to Finance a Mobile Home
Now that your score has been improved and you are ready to buy your first mobile home, you now need to know how to finance a manufactured home and which lender to seek?
For starters, a mobile home loan is not the same as a site-built home mortgage. Manufactured homes/mobile homes are considered personal property and, thus, do not qualify for conventional loans/traditional mortgages. That said, you can get manufactured home financing through a manufacturer, bank, or credit union.
Unlike traditional mortgages, mobile home loans through credit unions and other approved lenders process the loan faster. Checkout our guide to mobile home vs stick-built here.
So, here are various manufactured home loans/mobile home loans you can apply for to finance your manufactured home:
FHA Loan
Mobile home loan/manufactured home loan applicants can get financing for both the lot and the house with an FHA loan (Federal Housing Administration). The home must, however, be your primary residence in order to qualify for an FHA manufactured home loan.
It is important to remember that the FHA does not actually offer you the loan directly; rather, they ensure loans made by FHA-approved lenders. So, if you are seeking FHA loans, look for approved lenders and submit your application.
FHA loans often come with a term limit of up to 25 years for FHA Title I loans and 30 years for FHA Title II loans. The good news is that the FHA accepts 3.5% as a minimum down payment. However, borrowers with a credit rating below 500 will be required to pay at least a 10% down payment. So, the secret to lowering your down payments is to improve your score.
If you have trouble coming up with money for the down payment, look for down payment assistance programs.
How much should you expect from FHA financing? Here’s a breakdown:
Buying a mobile home and the land (maximum loan amount) – $92,904.
Buying the manufactured home alone – $69,687
You own the manufactured home, but need to buy land – $23,226
Most FHA-approved lenders require a minimum score of 580. So, if your score is less than 580, work on improving it to be eligible.
VA Loan
A VA loan is another manufactured home loan financing alternative for aspiring manufactured homeowners. However, this type of mortgage is reserved for the members of the military community.
This loan, like the FHA loan, requires that the home be your primary residence and installed on a permanent foundation. So, if you are thinking of the home as a secondary residence, then you may not be eligible for this loan.
The best thing about VA loans is that you don’t need a down payment or mortgage insurance. Many people struggle to come up with a down payment, but VA loans eliminate that concern.
Chattel Loan
Chattel loans are often termed personal property loans because they are designed for the moveable property. This mobile or manufactured home loan is used to purchase mobile and manufactured homes in parks, meaning that it does not include the land. Learn how to buy a mobile home already in a community here.
Chattel loans for manufactured homes have a shorter repayment period, which is typically between 15 and 20 years. This means that you will have higher monthly payments, but you will own the home faster than you would with a conventional mortgage. Keep in mind that chattel financing, like personal loans, come with higher interest rates.
USDA Loan
One notable feature of the USDA loan (often known as a rural development loan) is that it requires no down payment, unlike other types of mobile home loans. However, you must meet the geographical and credit score requirements to be eligible.
Generally, up to 97% of the U.S. land mass is eligible for a USDA loan, meaning you can secure mobile home financing quickly with fewer upfront costs.
A minimum credit score of 640 is also required for USDA loans. With that said, if you earn too much money (annual income), you may be disqualified.
Should I Buy a Mobile Home?
The simple answer is YES! A manufactured home is worth your time and money because it is less costly compared to a traditional site-built home, and you may use a personal loan to finance your home. Read more about the answer to ‘should I build a house or buy a manufactured home’ here.
According to the Census Bureau, in November 2021, the average cost of a new single-wide prefabricated home was approximately $76,400. In the same year, the average cost of a new site-built home was $298,432. This is just one of many reasons why manufactured homes are becoming more popular.
Another reason is that manufactured homes/mobile homes offer flexibility and amenities that you may not find in traditional homes. For instance, swimming pools, fitness centers, and playgrounds are frequently available at mobile home parks. If you want to have the same experience in a site-built home (like in a mobile home park/manufactured home community), you may need to invest in a swimming pool and fitness facility, which will be an additional expense, let alone a lot of upkeep.
Challenges to Watch Out for when You Buy a Manufactured Home
Look for mobile homes built after 1976, which is when Congress passed the National Manufactured Housing Construction and Safety Standards Act (learn more about the HUD Code for manufactured homes here). Many lenders are skeptical about manufactured homes built before 1976, meaning you may find it hard to secure financing.
Lenders consider older homes to be riskier to finance, which is why they often decline their applications and instead focus on newly constructed homes (learn how long it takes to build a manufactured home here).
Final Thought
Purchasing a manufactured home necessitates a good credit score and credit history (minimum credit score of 580). When compared to someone with a lower score, having a higher score often indicates you will be able to negotiate better terms for mobile home loans.
One of the best ways to avoid negatively impacting your score is by being up to date with your monthly mortgage payments because bills account for 35% of your score. Best of luck on securing financing for your next mobile home.
