How to Find a Mobile Home for Retirement
Purchasing a pre-manufactured home as a retirement dwelling can be a good decision, thanks to the manageable size and comparatively inexpensive pricing of these homes. But before you spend your hard-earned income on a pre-manufactured home, do thorough research to be sure you are getting a quality product at a fair price.
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Instructions
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Before you start the buying process, perform a series of research projects so that you will be sure to get a fair price when you find a pre-manufactured home that you like. Monitor MLS listings from local Realtors on mobile homes in your areas, which will give you an idea of how much mobile homes are selling for in your area.
Perform a basic Internet search for area mobile home retailers and auctioneers. There are any number of online sites that can give you a good idea what mobile homes are selling for from the original manufacturers and dealers.
Review the offerings on Internet classified sites such as Craigslist. Because Craigslist and similar organizations do not charge for listings, this is a way to do business directly with an owner who does not have to factor costs such a Realtor fees and classified charges into the price of his offering.
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Once your research is complete, and you are ready to tender an offer, line up the necessary financing to purchase the pre-manufactured home of your choice. Prior to visiting with a banker or dealer in order to get a loan, do your homework to ensure that you understand what you can and cannot afford. Widgets on the websites of some mobile home manufacturers and bankers will allow you to take into account the amount of the loan, duration of the financing and the interest rate of the loan to estimate your payments in the comfort of your own home without having to do it in a high-pressure environment such as a bank or finance office.
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Now that you have found and financed your mobile home, you will need to select a location where you will want to place it. If you decide to install your pre-manufactured home in a park designed for such homes, thoroughly review any agreements you must sign. Also, find out all you can about the park's management company. Will you be required to pay a price each month for lot rent? Or will you be allowed to enter into a purchase agreement for the lot? Do the terms of the agreement contain rules that are too restrictive for your lifestyle, such as prohibiting pets? By understanding the rules, you can avoid unpleasant surprises after your home has been placed in its location.
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Tips & Warnings
Do not forget to check with local banks for listings of re-possessed/foreclosed mobile homes. And, always remember that the bank will likely be anxious to liquidate the mobile home as unattended mobile homes can quickly depreciate in value. Give the bank an opportunity to cut its losses and run by offering a starting bid that is below what they are asking for. This could be a way to get a great deal on your new retirement home.
