Things that You Need to Know Before 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.
One of the things that you should consider is whether you want new or used manufactured home. One thing that you should understand is that we have both new and used manufactured home. Of which you need to know the one that you want before you start your search. You find that when you choose new homes you will benefit from maximum customization where you will choose the number of rooms you need among other things. Apart from that, we have used manufactured homes which will allow you to save a lot of cash in the long run. But you should ensure that you have a thorough inspection completed before you purchase.
Another factor that you need to consider is 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. For example, we have chattel loans which are used on manufactured homes that do not have a permanent foundation. You find that in this case they are placed on rental properties, privately owned land or land that buyers have already purchased. On the other hand, traditional mortgage loans are used in homes that have a permanent foundation.
In addition, you should also consider the land requirements. In this case, you can decide to put your home on a land that you already own, a 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. On the other hand when you rent a land you will pay a cheaper down payment. Whereas living in the community is always beneficial but you will have to lease the land.
Besides, 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.
Besides, you should also 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. But it is essential to follow the homeowner’s manual so that you can benefit from warranty.