Things that You Need to Know Before Purchasing a Manufactured Home
One things that you need to understand before you buy manufactured homes are the pros and cons. By the end of this topic, you will discover more important factors that you should put into consideration before you purchase a manufactured home.
The first thing that you should consider is new or used manufactured homes. It is essential to note that manufactured homes are not purchased new alone but we also have used ones. In this case, you will have to decide on the one that is best for you 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. On the other hand, used manufactured homes are good because they will save you a lot of money. Remember to have the house thoroughly inspected before you move in.
Apart from that, you should also consider 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. Unlike conventional mortgage loans which are used on manufactured homes that have a permanent foundation.
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. Not only that but when you live in the community you will get many amenities but you will have to lease the land.
Apart from that, 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. You find that they always cover for retail and manufacturer issues and the appliance problems. But it is essential to follow the homeowner’s manual so that you can benefit from warranty.