Are you about ready to take the plunge? Perhaps a manufactured home appears to be the quickest and easiest solution to your need to own a home. But, you're not sure and you probably have some confusion over the prices you're being quoted. This will help you.
Don't Focus on the Price Tag
While various manufactured (mobile) homes come with their specific price tags, the real cost is determined by many other factors. By "real cost" I mean that bottom line figure once everything is done and you've moved in. After all, if you're comparing the cost of owning a mobile home vs. building a "stick-built" home, you want to be sure you're comparing equally.
Now, you will certainly want to compare the price tags between one manufactured home and another but just remember two things:
1) Always be sure you're comparing apples to apples by personal inspections and analyzing size, lay-outs, features and quality, and
2) Keep foremost in your mind that the price tags for these mobile homes represent but a fraction of that "bottom line" I was talking about.
Other Costs Associated With Buying a Manufactured Home
So, what are the other costs besides the mobile home's price tag? That's going to depend on where you're planning to locate your home. Will it be in a mobile home park? Do you own the land where it will be placed?
Consider these factors before you jump:
Delivery and set up charges
Clearing the site
Costs of foundations and excavation ... depending on location
Permits & fees
Rental fees if you are in a park
Hook up charges for utilities
Drilling a well & building a septic system if necessary
Insurance costs
Lending costs
sheetrock prices
You can see that there are considerable additional charges and costs involved in reaching the point of living in the home. There may be even more in your location. There's also a big difference between choosing a mobile home park without a permanent foundation and setting your home on a permanent foundation on land that you own.
A Look at Lifetime Value
Comparing costs is only part of the important equation. What are you getting for your money? History has proven that the value of mobile homes declines over the years. And, unless laws and perceptions change, this will continue.
Conversely, for various reasons, the value of site-built (stick-built) homes tends to rise over time. There are ups and downs, to be sure, but over the years we experience rising resale values in stick-built homes and dropping values in mobiles. Let this fact guide your decisions if long-term resale value is important to you.
Advice From a Lifetime of Experience
Manufactured homes have their place. I favor them for people who:
need a quicker solution for a home than building from scratch
want to live in a small community (like a mobile home park) with little or no grounds and upkeep required
are not concerned about building equity
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On the other hand, I favor a stick-built home for those who own their land. This could be acreage, farm land, ranches or anywhere that stick-built homes are predominant. In these cases, long-term value is important. Stick-built homes offer that potential and manufactured homes do not.
Whatever your needs, keep studying, keep learning, and you'll make the right decision.
Manufactured Home Costs - Discover Their *True* Costs & What You're Getting
You can learn so much more about home building and remodeling online. One great option is to take advantage of a very informative yet simple to follow *free* e-course that you can find by clicking here http://www.DreamHomeCreation.com You will also find other tips and tools, surveys, videos, and additional articles by Mel Inglima.
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