Factors that You Need to Consider Before Purchasing a Manufactured Home
When purchasing a manufactured home you have to know whether you want a new or used manufactured home. You find that we have both new and used manufactured homes. Of which you need to know the one that you want before you start your search. Starting with new manufactured homes they are good for families that require greater customization. While when you buy used manufactured homes you will be in a position to save a lot of cash. When you choose used you should make sure to have a thorough inspection completed before you buy it.
Besides, you should check the financing. One thing that you need to know is that manufactured home financing can be facilitated through FHA and VA loans but the type that you use will be determined with whether your home is attached to the land or not. For instance, chattel loans are used in purchasing homes that have no permanent foundation. Of which they are placed on rental properties, privately owned land or land that buyers have already purchased. Unlike conventional mortgage loans which are used on manufactured homes that have a permanent foundation.
In addition, you should also consider the land requirements. In this case, you can decide to put your home on a land that you already own, a land that you are planning to rent or you can go with the community. It is essential to check the local zoning laws to confirm that manufactured home is allowed there. But when you rent a land you will pay a cheaper down payment. While choosing to live in the community will give you many benefits and you will have to lease the land.
Apart from that, you should also think of the designs. In this case, you will have to go with the design with customization that meets the requirements of your family members. But as we said that used manufactured homes will not allow you a lot of customization but you will be free to choose the one with features that you need.
Last but not least, you should consider warranties. It is essential to note that warranty only applies when you are purchasing a new home. You find that they always cover for retail and manufacturer issues and the appliance problems. It is essential to note that you need to follow the homeowner’s manual for you to benefit from warranty.