How Are Mobile Homes Different from Regular Homes?
If you spend any time in the real estate market, you will frequently see the term “mobile home.” You are not going to see them very often on real estate publications but you will hear a lot about them during regular conversations. If you have ever given any thought towards purchasing and owning a mobile home, you should know that there are a few key differences between mobile homes and regular homes. To be clear, this article is not going to argue which type of home is better. We simply want to lay out the differences so that you know what you are getting into when you purchase a mobile home. An important fact to mention is that mobile homes have improved significantly in quality and construction over the years. They are no longer the beat-down vehicles that you are accustomed to seeing in Hollywood movies. They have become an attractive investment in the past decade.
Appreciation in value: A major difference is that mobile homes, much like a vehicle, tend to depreciate in value over time. This can be attributed to the fact that it is extremely difficult to improve upon the quality of the mobile home. Additionally, it is impossible to expand the mobile home. A regular home does not come with these limitations and they usually tend to appreciate in value depending on factors such as home renovations and neighborhood developments.
Price: Mobile homes are far cheaper than regular homes, which explains why they are an attractive housing option for low-income individuals and/or those looking to seek retirement in a new home without breaking the bank.
Foundation: Mobile homes do not have any kind of foundation, instead, they have wheels. This makes them very easy to transport from one location to another. The major flaw in this is that they are far less durable than regular homes with a traditional foundation in the event of a natural disaster (winds, tornadoes, etc.)
Regulation: While a regular home is regulated by local building codes, mobile homes are regulated by HUD codes. For this reason, mobile homes require special searches before the HUD title can be transferred from the manufacturer to the new owner.
Design: When a regular home is designed from scratch, prospective buyers have a high level of flexibility in regards to customization. Mobile homes do not have this luxury as most of them are built on-site prior to the purchase. However, this allows for the owner to receive the home within a matter of days.
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