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- About Home Equity Loans In Texas And How Can One Obtain It - November 27, 2023
Guide for Buying Mobile Homes In Texas
According to a survey, approximately twenty million Americans are living in mobile homes. If you are thinking about buying a mobile home for the first time, you might want to know the pros and cons of buying mobile home in Texas.
There always is the question that, is buying one of the mobile homes a good deal for you?
In this post, we will get more information on manufactured and mobile homes and what are the upside or downsides of buying one so that you can make the right decision.
Pros of Buying Mobile Homes
1: Price
Price Of course, the first pro for buying a mobile home in Texas is money. If you look at it, the price per square foot for a brand new mobile home in Texas, on average is $50.
If you compare it with purchasing a new house, that averages out around $107 per square foot.
This is a considerable saving. When you are buying a mobile home, you are buying a home itself and not the piece of land underneath it.
So you definitely want to consider the price if you are planning to buy mobile homes in Texas.
2: Mobility
Mobility Another pro for buying mobile homes is, you can technically move house. If you don’t like the locality you live in, or your neighbors are driving you crazy, you can move your house to another location.
However, if you move your mobile home from one place to another location, you may have to face challenges while you are planning to sell this house to future buyers with a loan.
Technically, you can move it, but make sure you follow the right guidelines so that in the future, you are going to be able to sell your mobile home.
3: Taxes
Taxes Eighty percent of the mobile homes are titled as personal property. Since one of the main reasons why people buy mobile homes is the cost.
It is also a big perk that the taxes you would pay on mobile homes is a lot less because it is considered personal property and not like a traditional stick-built home.
4: Energy Efficient
Energy Efficient Another advantage of buying a mobile home in Texas is energy efficiency. Newer built mobile homes have been rated for being more energy-efficient.
Over the last few years, mobile homes have become more energy efficient than some regular stick-built homes. They have improved on quality and safety over the years, much more than some of the ordinary standing houses.
All you might need to do is a little research about buying good quality mobile homes from the best manufacturers in the country.
Cons of Buying Mobile Homes
1: Costs of Renting
Costs of Renting If you would like to put your mobile home in a mobile home community, you might have a problem in the future with the rising cost of renting the space where your mobile home sits.
It is just like renting an apartment. You cannot keep them to keep the price steady, and it is always going to go up as the costs to run the facility also increase. It is almost like paying an HOA fee.
However, one thing to consider if you are deciding to put your mobile home somewhere is, how much are the fees going to be when you park it, and how much do they go up regularly.
2: Acceptance
Acceptance So, you found the perfect mobile home and an ideal location. But they don’t have to accept you in that location. Some mobile communities have restrictions that you have to apply to be accepted into their facility.
You might want to keep that in mind, too, when you are deciding to buy mobile homes in Texas.
3: Appreciation
Appreciation One of the biggest disadvantages of owning a mobile home is that they rarely increase in value. It is almost like buying a car. When you drive it for a few years, it is going to depreciate in value.
In the future, when you go to sell your mobile home, and you have had it on a piece of land that you had for years, the value of the house does go up.
However, that is because the land was sold for a lot more in that area. So, the increase in value comes from the land that it sits on.
4: Loan Restrictions
When you park your mobile home at its new location, you have to make sure that the tongue and axle have been removed, make sure you have all the paper works from when the house was parked at its location.
If you move the home from its original location, you might not qualify for VA and FHA funding.
Conclusion
Call it what you want, mobile home, modular home, trailer, double-wide.
Though they might not be the most popular option when it comes to home buying, however, with the above-mentioned pros and cons, you could be in a better position to decide if it is worth buying mobile homes in Texas.
You made an interesting point when you talked about how one of the benefits of buying a mobile home is that they are taxed as personal property so you don’t have to pay as much on them as traditional homes. If you are interested in purchasing a mobile home, I would think that it would be a good idea to find a real estate agent that specializes in this market. A real estate agent that has handled mobile homes in the past will be able to answers questions about taxes and other similar questions.
It caught my attention when you pointed out that purchasing a mobile home could save you money because the average price per square foot for a brand new mobile home is $50. My husband and I are planning to stop renting so we can have our own house and save money on rental fees. However, our budget is limited, and we don’t want the purchase to break our banks. I will be sure to talk to my husband so we can consider purchasing a mobile home. Thanks!
It sure was interesting when you said that the average price per square foot for a mobile home is $50, so you can save. My husband and I need to leave the apartment that we are renting because our contract will expire, and it will be demolished, too. We will be sure to consider your tips since we want to find a house that can meet our limited budget.
It sure was interesting when you said that the average price per square foot for a brand new mobile home is $50. This sounds like a good deal for me and my husband since we want to finally have our own house without breaking our bank. We will be sure to find a mobile home dealer that could offer us a good deal for the house that we will get interested in before the year ends.
Your statement that a mobile house costs $50 on average per square foot meant that there was room for savings. The flat that my husband and I are renting must be left since our lease will end and it will also be destroyed. Since we need to select a home that will fit within our tight budget, we will make sure to take your advice into account while we look for a manufactured home dealer.