In the world of purchasing a home, the prices for homes and new home construction have increased considerably, making a single-family home out of many people's budgets. However, when you look at the potential of a manufactured home, its price, and all the options you can choose, there are a lot of opportunities for your homeownership goals. Here are some recommendations to help you as you search for a manufactured home to purchase.
Consider Your Upgrade List
When you are working with a manufactured home dealer to buy a new home, be sure you know all the options for your new home's construction so you can choose all the upgrades and features you want. A manufactured home, although built off-site, can be installed with many quality features and beautiful materials to give your home its unique characteristics.
For example, if you want tile installed in the bathroom around a jacuzzi tub as part of your large master suite, you can add this to your home's construction. You can also opt for granite counters, hardwood flooring, and upgraded appliances and fixtures to provide you with a high-end living experience in your new home. If you don't add these items to your home, you may have regrets about your new home purchase.
Plan For Financing
The financing for your manufactured home is going to be a bit of a different situation than a home for a new on-site built home. You can arrange this type of financing for your manufactured home through the home dealer or retailer, but you can also set up your own financing with a bank of your choice. If you choose to work through your own mortgage company, this can help you negotiate the price for your manufactured home from the dealer, as you will be working with cash prices and can negotiate the actual price instead of the payment terms.
There are many types of loans available, just be sure you are comfortable with the terms of the loan to include the interest rate and the length of the loan. Not all manufactured home loans need to be a full 30-year mortgage, as you can consolidate it into a shorter loan if you prefer.
Once you have set up your home financing, be sure you have established a location for your new manufactured home to be installed, which can be on your own land or on a property you are renting.