Most people nowadays get tired of living in an apartment for many years and are now ready to own a place and live in a scene with a yard or anywhere you can call your own. So when you hit this portion of your life, this might be the right time to make a sound investment. But the dilemma is that we get stuck when it boils down to affordability and budget concerns. So we mostly forget to push through the next step as this major decision reminds us of the luxury of having your sanctuary.
Recently, the percentage of homeowners choosing mobile homes has increased since few studies and analyses showed that purchasing a mobile home and placing it in a mobile home park will cost almost the same as renting an apartment per month. Sounds great, but is it worth the hype and a good investment?
Mobile homes are unique investments. Therefore, the answer to the question will depend on many factors. Such as how much you currently pay for rent? In addition, whether you plan to buy a new or used mobile home or whether you will require and consider borrowing money to purchase the mobile home. And if so, what finance options are viable? What is the average cost of mobile home insurance? Finally, you need to think about how much a transportable home space costs rent in your area, and will this affect your long-term financial desire?
Of course, there are some key benefits of buying a mobile home. For one, they are super cheap. Even paying the rent in a mobile home park, a mobile home undoubtedly costs less than an apartment per month, making homeownership easier to achieve. In addition, you can land a more valuable space for your money as mobile homes usually charge less per square foot than a traditionally built home.
Another option is considering a used mobile home. Buying a new mobile home or building one alone can save you up big time; how much more when you purchase a used one. You might want to check in the used mobile homes for sale in Australia so that you can compare the construction quality versus a stick-built home as well as compared to a newer mobile home as a reference.
Value For Money
Used mobile homes are significantly less costly than new ones because they are not as fresh as before and up to date in terms of architectural design. But most of the used mobile homes are of excellent value because of a minor issue that can easily be corrected. For example, many homeowners pass on a great deal of used transportable homes because of a leaky sink in the kitchen, even though that could be affordably fixed with little effort.
Old But Gold
Even if it is a used mobile home, buying a new home can represent an exciting time as you look back on all the memories it created and shared for its previous homeowner and look forward to new beginnings as a new owner. Although, as such, there is little room for emotion involved as the mobile home used to be someone's comfort haven and will always be part of their life.
Do you need to move quickly? With a used mobile home, you can enjoy your new space within a matter of weeks, depending on how long the closing process takes. Even the newly constructed mobile homes result in enormous savings in time and cost since most of its parts are prefab. In addition, all the work is done in a climate-controlled manufacturing plant; there is no worry about weather delays.
Whether new or used, the mobile home is a good investment considering you have done your part of checking both its pros and cons. There will be numerous things to consider but always remember that they are built and have been subject to degrees imposed by the "HUD" of the U.S. Department or the "Housing and Urban Development", so expect that the quality of construction is often excellent. In addition, one of their stated goals is to ensure and guarantee that mobile homes are durable. Therefore, a high chance that you will find an affordable abode that will last you for an extended period.