Things that You Need to Know Before Purchasing a Manufactured Home
Before you choose a manufactured home, you need to know the pros and cons that are associated with them. By the end of this topic, you will discover more important factors that you should put into consideration before you purchase a manufactured home.
When purchasing a manufactured home you have to know whether you want a new or used manufactured home. One thing that you should understand is that we have both new and used manufactured home. In this case, you will have to decide on the one that is best for you 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. While when you buy used manufactured homes you will be in a position to save a lot of cash. Remember to have the house thoroughly inspected before you move in.
Apart from that, you should also consider financing. You find that FHA and VA loans are the available financing options for manufactured homes but it will depend whether your home is attached to the land or not. For example, we have chattel loans which are used on manufactured homes that do not have a permanent foundation. Of which 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.
Thirdly, you should consider the land requirements. Where you can put your home on a land that you already own, land that you want to rent or you can go with the community. But one thing that you will have to do is to check the local zoning laws to verify that the manufactured home is allowed there. On the other hand when you rent a land you will 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. This will require you to go with the design that has customization that meets the needs of your family. Even though most used manufactured homes will not allow several customizations but you will have the opportunity to choose one with features that you need.
Last but not least, you should consider warranties. It is essential to note that warranty only applies when you are purchasing a new home. With a warranty, they will be able to cover for retail and manufacturer problems as well as the appliance issues. For you to benefit from the warranty you will have to follow the homeowner’s manual.