Because of rising property values, manufactured homes or mobile homes are becoming the preferred choice of first-time home buyers looking for a more affordable housing option.
The terms manufactured homes and mobile homes are used interchangeably since their only difference is the date they were built–i.e., anything that’s factory-built before 1976 is called a mobile home, while any unit built after this year is called a manufactured home.
Most frequently asked questions about mobile homes
Here, we list some of the most frequently asked questions about mobile homes to help you better understand this affordable housing option.
Are mobile homes a good investment?
Today’s factory-built homes follow strict safety and quality standards that make them a good investment, especially if you’re looking for an affordable housing option but don’t want to skimp on excellent amenities like luxurious bathrooms and modern kitchens.
For additional benefits, you may want to live in a mobile home community with excellent amenities like swimming pools, communal libraries, walking trails, parks, clubhouses, etc. Visit Storz Management Company to learn more about our stunning neighborhoods in California, Arizona, Oregon and Nevada.
What’s the average price of mobile homes?
The average price for a new single-wide manufactured home is around $76,400, according to a recent report published by the US Census Bureau.
Is a mobile home real or personal property?
If you own the land and your mobile home is permanently fixed to the ground, it’s considered real property, and thus, it is assessed and taxed annually just like a stick-built house. But if you only own the home but not the land, then it’s treated as personal property.
Personal property is anything movable, while real property is any immovable structure.
Why are mobile homes more affordable than stick-built houses?
Mobile homes are built inside warehouse-like factories that use efficient construction processes (very few materials go to waste), which is one of the reasons why they are more affordable than traditional houses.
Can mobile homes withstand severe weather conditions?
Today’s manufactured homes are made of quality construction materials to meet HUD’s strict building code and design and construction standards. As a result, they can withstand storms in hurricane-prone zones. In fact, the newer ones are built based on a more stringent set of standards than the regional and national building codes for site-built houses.
Are mobile homes constructed with fire-resistant materials?
Today’s mobile homes are made of materials that are highly resistant to fire, plus their manufacturers are required to meet HUD standards to prevent fire accidents–i.e., they should come with smoke alarms, there should be at least two exterior doors, and large windows in all bedrooms.
Do mobile homes have a title?
The short answer is yes. Nowadays, all mobile homes must have a title to transfer when buying and selling them.
In case you lost the title or did not receive one when you purchased your mobile home, getting its duplicate title is often similar to the process for motor vehicles, which means you need to go to your state’s Department of Vehicle Motors.
What kind of financing options when buying a mobile home?
Nowadays, the financing options are almost similar to buying a mobile home and a traditional stick-built house; this is especially true if you’re purchasing the land along with the home.
But if you purchase a mobile home separately from the land, you won’t get a mortgage loan, which only applies to property. Instead, you’ll get a personal property loan that typically comes with higher interest rates and shorter payment terms.
Where can I find excellent mobile home communities?
Visit the Storz Management Company website and check out their stunning mobile home communities and RV parks throughout California, Arizona, Nevada and Oregon. These well-maintained neighborhoods have excellent amenities such as swimming pools, walk trails, recreational areas, spa-like facilities, gardens, etc.