How much are the transportation costs?
If the used mobile home you are buying must move to a new location, be prepared for a big shock. Not only is finding reliable and qualified contractors to move and re-set the used mobile home difficult, the cost to do so will wipe out much of your initial savings.
Most lenders will not finance a used mobile home, and if they do interest rates are considerably higher for used versus new. The other option is a personal unsecured loan, which is usually a higher rate and a much shorter term than financing a new home.
How about the heating and cooling?
Today’s homes are significantly more efficient than homes built ten years ago. Advances in technology have made HVAC systems more efficient, as well as improvements in insulation. These all contribute to a lower yearly cost of owning the home. Let’s not underestimate the sticker shock of replacing your furnace or central air soon after buying a used home.
Do you really want to raise the roof?
When buying a new mobile home, you know what you are getting. One of the most critical areas in any home is the roof. With a new home, whether single wide or double wide, you will know the quality of the roof upfront. If buying used, look for signs of water entry near the ceiling and around any roof vents. These could indicate leaks during weather events or improper ventilation. Replacing a roof is expensive, whether the home is mobile or not.
Building code? Technology?
The HUD code used for building manufactured homes came into existence in the early 1970s. This code is updated in some form or another almost annually. When you factor in code improvements along with advances in building materials and methods, does a used home bring more value?
Buying a new mobile home gets you better financing, new appliances, and HVAC, a roof where you know the life of the shingles, and no added moving costs. Did we mention you have choices? Choices in floorplan, colors, appliances, cabinets, and more. Your choices! New homes also include a one year warranty.