Essential Tips for Purchasing a Manufactured Home
It is essential to understand the pros and cons that come with manufactured homes before you commit to one. By the end of this topic, you will discover more important factors that you should put into consideration before you purchase a manufactured home.
The first thing that you should consider is new or used manufactured homes. It is essential to note that manufactured homes are not purchased new alone but we also have used ones. Of which you need to know the one that you want before you start your search. One good thing with new manufactured homes is that they are good if you need customization which may include the number of rooms among others. On the other hand, used manufactured homes are good because they will save you a lot of money. But you should ensure that you have a thorough inspection completed before you purchase.
Apart from that, you should also consider financing. One thing that you need to know is that manufactured home financing can be facilitated through FHA and VA loans but the type that you use will be determined with whether your home is attached to the land or not. Like chattel loans are used for the home that do not have a permanent foundation. Where they are placed on rental properties, privately owned land or land that buyers have already purchased. Unlike conventional mortgage loans which are used on manufactured homes that have a permanent foundation.
Also, consider the land requirements. For that matter, you can decide to put your home on a land that you already own, the land that you are planning to rent or you can go with the community. It is essential to check the local zoning laws to confirm that manufactured home is allowed there. Besides, renting land will require you to pay a cheaper down payment. While choosing to live in the community will give you many benefits and you will have to lease the land.
Apart from that, you should also think of the designs. In this case, you will have to go with the design with customization that meets the requirements of your family members. But as we said that used manufactured homes will not allow you a lot of customization but you will be free to choose the one with features that you need.
Last but not least, you should consider warranties. One thing that you should understand is that a warranty will only apply when you are buying a used manufactured home. You find that they always cover for retail and manufacturer issues and the appliance problems. For you to benefit from the warranty you will have to follow the homeowner’s manual.