Throughout our lives, we make any number of life-changing decisions that prove to be of the utmost importance. One of those – and a dream of many – is the purchase of your very own home. But brick-and-mortar houses are expensive! This is not to say they aren’t a desirable choice, but they’re just not affordable for everyone. One fantastic alternative to brick-and-mortar houses is the purchase of one of today’s new manufactured homes.
The benefits of purchasing a manufactured home are many. But, if you walk into this type of process completely unaware, things can go wrong in a hurry. To help you in your endeavor of pursuing the American dream – owning your own home – we are going to highlight several manufactured house buying mistakes that have been made by others. Knowing what to avoid ahead of time can help you steer clear of the below-stated issues.
Failure to Prequalify for a Loan
Before your purchase, be aware of the amount of financing that is available. Before the entire purchasing process is even entered into, your loan should be secured.
When it comes to the home purchasing experience, one of the most confusing aspects tends to be financing. There are numerous loans available, depending on your circumstances. The best news of all is that your loan won’t have to be anywhere near what it would be – more than likely – for a brick-and-mortar house.
Not Choosing a Placement Site Before Purchasing a Home
Whoops – you put the cart before the horse! Before you had a piece of land to place your new manufactured home, you went ahead and bought the home and now it’s ready for delivery.
This is incredibly easy to avoid, so please do so. Just make sure you either have a spot in a community all lined up or, if you’re putting the manufactured home on private land, that the land deal has been signed and sealed. Some people get a mortgage for their manufactured home that includes the cost of the land when it’s going to be permanently secured to a foundation on that land.
Failing to Do Your Homework
What do we mean by “homework”? Take a good long look at manufactured homes before you decide on which one to buy. There are triple wide, double wide, and single wide homes. There are numerous floor plans to choose from. How much land will surround your mobile home? Will it be adequate? The customizable options for today’s manufactured homes are practically limitless but look at every one of them. Don’t experience regret because you didn’t carefully go through all your options.
If your requirements and desires are not met specifically by the land you choose, the community you choose, or the home you choose, you have only yourself to blame. By looking at everything available – and carefully considering it – you can feel secure making an educated decision.
Hopefully, the above-described information will help you avoid the mistakes others have already learned from. Enjoy your new manufactured home!