More people than ever are investing in mobile homes as either a first home or a place in which to retire within as the prices in properties continue to increase. Owning a mobile home provides residents with a myriad of benefits including lower costs, the freedom to move wherever they wish and the added security of owning the home in a shorter space of time. However, before you jump in with your mobile home purchase, it is important to take a few factors into consideration.
As one would expect, as it ages, your mobile home will decrease in value which in some respects, makes the purchase of a mobile home similar to that of a car. However, the value of your mobile home can be increased if you purchase land for it to reside on. If you implement reinforcements such as bricks or blocks in order to make the home sturdier, this can also help with the value as it will have more structure than other mobile homes.
An often overlooked aspect of mobile homes is the age, especially in regards to the wiring and so forth within the home. Any mobile home that was build before the mid 1970’s must be investigated by a professional, qualified electrician before purchase to ensure that it is free from aluminum wiring which was used during this time. This type of wiring can be vulnerable to fires, making it unsafe. If aluminum wiring is found, then you should inquire as to whether the price can be lowered as you will need to pay to have this replaced.
In addition, you should also investigate into the condition of the flooring. Most mobile homes will have particle board flooring which is susceptible to rot if not cared for correctly. Check any areas where moisture may reside, such as the bathroom and kitchen. If there is any presence of rot, inquire as to whether the owner will be willing to replace these for you (it is relatively cheap to do so) or if they will be willing to lower the asking price. Similarly, you must also check the condition of the roof. Any water damage on the roof will present as water stains on the ceilings indoors. If any are visible, inquire as to whether the owner will have these repaired. If these repairs are made in quick time, then you could eliminate the chance of any wood becoming rotten. This is also a relatively cheap repair to complete.
If you require financial aid, it is important to be aware that if you are looking to purchase a relatively old mobile home, this may decrease your chances of gaining financial aid. In order to increase your chances of gaining financial help, look to purchase a mobile home that has brick or block foundations for added structure. Furthermore, always check with your provider as to whether you are eligible for a loan for the home and whether it would be best to save up for a down payment as a way of increasing your chances of financial aid.
Thanks to the web, it has never been easier to find our dream mobile home. Before going ahead with a purchase, it is vital that you compile thorough research into the different features your dream mobile home will possess, and what constitutes as a realistic price. Although a mobile home does not have the same durability as a property, by ensuring that you purchase a mobile home with a sturdy frame, your repairs will be dramatically reduced which will help you save money in the long run.