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Mobile homes for sale: pros vs cons of mobile homes

If you want to own your own home without borrowing a couple hundred thousand dollars, you may want to look at mobile homes for sale. Manufactured homes are affordable and may be moved when you move.

mobile homes for saleIf you want to own your own home without borrowing a couple hundred thousand dollars, you may want to look at mobile homes for sale. Manufactured homes are affordable and may be moved when you move.

Disadvantages of a mobile home

The major difference between mobile homes for sale and stick-built homes for sale is that a mobile or manufactured home is a depreciating asset while with a traditional home is an appreciating asset. This is a downfall of mobile homes. You would be fortunate to sell it for what you paid for it after five years. When you are looking at mobile homes for sale, consider how long you plan to live in it. If it is a starter home or transitional home, then it may be less expensive to make payments on it than it would be to rent.

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Mobile homes for sale are either on rental land, a mobile home park lot or on land that comes with the sale. Lot rent can be expensive and must be figured into your budget. It may be another disadvantage of buying a manufactured home. While it's certainly possible to move a mobile home to a better location, moving can be expensive and might be hard on an older home.

Advantages of a mobile home

If you buy a mobile home with land, then the land value increases over time. You may want the land and decide to live in a mobile home while you save money to build your dream house. One of the biggest advantages of a mobile home is that the mortgage payment will be much less than that of a regular home and land.

Your may find another type of home during your house hunting that is not to be confused with mobile homes for sale. Modular homes are houses that are construted indoors, typically in two to four sections, and then assembled on site. Modular homes are not mobile and tend to appreciate like a traditional home. 

If you are uncertain which type of home is your best option, browse the free real estate listings at Reply! and compare your options.

Photo credit: International Real Estate Listings via Compfight CC.

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