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Cost of Mobile Homes

Some people still refer to mobile homes as “manufactured houses”. Indeed, that probably best describes this type of structure. Mobile homes serve as the cheaper alternative to traditionally-built houses. Because of the number of options available, the cost of mobile homes can vary significantly. For example, some homes are built with narrow structures while others are carefully-built with complete amenities such as recessed lighting, walk-in closets, and even skylight.

Average Price of Different Types of Mobile Homes
In essence, the average national price of mobile home is $37,100 for a single-wide structure while it is $73,600 for a double-wide structure. This figure does not include the cost of land. The Midwest has the lowest average price at $35,900. But in essence, the standard does not deviate widely from one state to another; the main factor that will determine its overall price is the cost of land.

A lot of new mobile homes are installed in parks and developments. Owners of these structures have to pay between $100-$800 a month for rent, depending on the floor space, location, and amenities in the area. The mobile homes can also be installed on private land, mostly in rural areas.

If you want to get something cheaper than the figures mentioned above, consider getting a second-hand mobile home. Double-wide and triple-wide structures tend to hold on to its value longer than single-wide mobile homes. For example, some people can buy a simple mobile home for as little as $10,000.

Features and Amenities in the Mobile Home
As opposed to building the structure on site, mobile homes are manufactured in a factory. The materials are then transported to the site where it will be assembled. The overall size that a buyer can take advantage of depends on a variety of factors including what can be towed on the highway. Single-wide homes can, at the maximum, be 90 feet long and 18 feet wide.

Meanwhile, double-wide structures are at the very least, 90 feet long and 20 feet wide. These will be towed separately. The pieces will be assembled together on the site of construction. Triple-wide mobile homes are also available but they are less common.

Additional Cost of Mobile Home Buying
For individuals who want to buy or sell used mobile homes, additional fees may be charged. It is important to take note that it is usually difficult to obtain financing to buy a used structure (especially for homes placed on rented land and/or older models). As a result, the interest rates on these loans are higher compared to traditional homes. Mobile homes are not considered real estate (only property) so you may need to register it as a motor vehicle. But rarely is this structure moved after it’s been installed in a lot.

Aside from costs, there are definitely a lot of considerations you need to look into if you want to purchase a mobile home. For example, take a look at your lifestyle and the needs of your family. Would it be better to rent out a traditional home rather than own a place?

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