Mobile homes are a viable option for those who do not want the responsibility of maintaining a home or who do not want to share walls.
Let's face it, there are many who have no desire to pay $2000 or $3000 monthly mortgage and they are perfectly ok not investing in real estate for what ever their personal reasons are.
Some mobile homes are like walking into a regular house. Granted some are better maintained than others.
Some mobile home parks are better than others. You still need to deal with park space rent.
I have sold mobile homes to buyers who just sold their $900000 home and just wanted a place to rest their head and go traveling.
Seniors love mobile homes and the senior mobile home park due to the community and events.
Many young couples want their own place , yet they do not want a condo or regular home. Most parks will allow pets with each park having their own rules re: size and number.
There are pre HUD and post HUD homes. The difference being that pre HUD homes were built with specific state requirements in manufacturing for safety etc. Does not mean they are all bad. Some were just better built with safety guidelines. Standards became mandatory after 1976.
You should have inspections on these homes the same you would on condos and residential homes.
Mobile homes come in various sizes and prices. They are taxed like a vehicle. One time fee a month.
Manufactured homes are usually taxed by the county. Not as high as regular homes since there is no land involved.
Some parks are in rent control areas others are not.
Mobile and /or manufactured homes appraise differently than residential. Basically they will sell for what a seller will them go for and what a buyer will pay for it.
Banks on older homes generally require about 20% down. Newer homes you can usually find a loan with 10% down. Everything is dependent upon age of home, location and park and buyers personal creditworthiness.
Most parks require that you be pre approved by park management before purchasing a home in their park.
If you purchase a home without park approval you will be required to either turn around and sell the home or move it off the park premises.
If you need help locating a mobile or manufactured home or selling one, contact me. I would be more than glad to assist you.