In this article, I will share with you what is a mobile home, or a portable house as you can move the whole house into a different place. I will share everything you need to know to invest in a mobile home in your area. Let’s have a look at what we are going to discuss in this article.
- What is a mobile home?
- Is it Manufactured?
- Types of mobile homes
- Some advantages
- The Disadvantage
- How to buy one
- How much will it cost
Let’s start with the first one.
What is a Mobile Home Exactly
It is a home but made of woods, like a piece of furniture. You can move it anywhere via a portable truck, and with some help from experts who help to port the house in your desired place by taking some small fees.
Know that you can not port the house by yourself. You will damage the whole house. A professional is required if you want to port the house to a different place.
In some areas, people are living in this kind of home for decades with no issues. You can say it is like a permanent house, but portable with a low cost.
A Manufactured Home
You have heard it. Lots of people say this is a manufactured house. That is true because they build it in a big manufacturing hub, just like wooden furniture. There are some big companies who build and sell these houses. Companies like:
- Champion Home Builders
- Clayton Homes
- Fleetwood Homes
- Adventure Homes.
You can buy a mobile home from any of these companies. They are good.
Types of Mobile Homes
This type of potable house is mainly three types.
- Single Wide: A one-bedroom home (600 to 1300 Sq.ft)
- Double Wide: Two bedroom house.
- Tripple Wide: Three bedroom house.
Moving a single-wide home is easy, but the other two are not. Most people buy two or three-bedroom houses for a lifetime and single homes for five years. You can get whatever you want according to your personal budget.
Advantages and Disadvantages
When you buy a mobile home, you buy it in pieces that need to be assembled by a professional in a place where you have permission to do so like in a mobile home park or land you own to set it up. After you set it up, it will become like a regular home. You can live there for decades with a basic repair every year.
Look, these houses are good but not as strong as a brick house. Cyclones and other environmental hazards will have a huge impact on these. All these houses are made of wood that can catch fire instantly. You have to check it on a monthly basis if there is something wrong. That is the biggest disadvantage of these kinds of houses. But you can get it at a low price of about $50,000.
But don’t set up where the weather is not that good or any problem that can damage your houses. There are Mobile Home Parks in every city. You can go there to rent a place and set up your house there for a small fee. You will see there are some potable homes people are living in it in that park just like you. You can do the same.
Mobile homes are very flexible and best suited for people who shift in every five years and don’t want to invest huge money in a brick house. That is why the demand is increasing rapidly.
But the main problem is the value of these mobile homes decreases rapidly. Because it is a product manufactured by someone. Not like land-locked property that will appreciate every year. It will lose its value every year, just like a car. When you take a car out of the showroom, it loses some value of it about 20%- 30%. The same thing happens with the mobile home.
So don’t think you will sell it for a higher price after a few years of use. But, it’s true that people make a lot of money by investing in that kind of house. They don’t live there. They buy and sell it for a profit like a flipping business. You can do that, but know that value will go down.
Financing A Mobile House
Mobile home financing is not easy because banks will treat it like a personal possession, like Jewelry, not like real estate that will hold value for ages. The banks are strict on this. Most of the time, they will reject you. But, you can take a personal loan to buy these kinds of houses. There is always a way, know that.
The Big Problem with Portable Houses
The biggest problem is that you can not sell the house fast. There are only a few people who deal in potable homes. That is why selling it is even harder. If you want to get rid of it, know you will not get a profit if you live there for some years and then you sell it.
That is the biggest problem in this kind of potable house. You can’t sell it as you expected. So think about that before buying one.
These houses are very prone to damage. Every month there will be something that got broken. It is very delicate and will not last if you hit it hard. That is why you have to handle it with care and check every week for any possible damage that can damage the house even more.
Otherwise, this is a wonderful house specially made for potable people who want to shift from one place to another in a few years.
You can buy it as you need a single wide, double wide or a triple wide. Prices are low super affordable, and long-lasting if you carefully deal with them. So that is all for what is a mobile home. I hope now you know what it is and house to buy one. Subscribe to our email newsletter to never miss an article. Thanks for reading.
Why do people live in a mobile home?
Mobile homes are extremely cheap. Normally, it cost about $50,000. If you are looking for a cheap sustainable house, a mobile home is for you.
What is the point of manufactured homes?
The point is to provide people with a roof over their heads for those who can not afford a normal house. These homes are made in a factory.
Are mobile homes good?
Yes, it is like a normal house and you can not tell the difference. But these houses are not as strong as a brick house. Cyclones will have a huge impact on these.