Factors that You Need to Consider 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. Starting with new manufactured homes they are good for families that require greater customization. Apart from that, we have used manufactured homes which will allow you to save a lot of cash in the long run. Remember to have the house thoroughly inspected before you move in.
Another factor that you need to consider is financing. It is essential to note that FHA and VA are the available financing options for manufactured homes but the type of loan will depend with whether your home is attached to the land or not. For instance, chattel loans are used in purchasing homes that have no permanent foundation. You find that in this case they are placed on rental properties, privately owned land or land that buyers have already purchased. While conventional mortgage loans are used for homes that have a permanent foundation.
Thirdly, you should consider the land requirements. For that matter, you can decide to put your home on a land that you already own, the land that you are planning to rent or you can go with the community. But one thing that you will have to do is to check the local zoning laws to verify that the manufactured home is allowed there. On the other hand when you rent a land you will pay a cheaper down payment. While choosing to live in the community will give you many benefits and you will have to lease the land.
Besides, 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. Even though most used manufactured homes will not allow several customizations but you will have the opportunity to choose one with features that you need.
Last but not least, you should 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. It is essential to note that you need to follow the homeowner’s manual for you to benefit from warranty.