Should a retired couple spring for an upscale manufactured home?

Q. My husband is retired and I am about to retire. To save money after we sell our house here, he is interested in moving into a luxury mobile home community in Florida. I have never lived in a mobile home and don’t believe that they are that luxurious. What do you think?

–Pittsburgh

A. It is true that mobile homes—the preferred industry term is “manufactured homes”—are much better designed and built and have more features than they did in the past. Some are quite roomy, with open floor plans, vaulted ceilings, upgraded cabinetry, faucets and fixtures, and exterior touches like porches and stucco exteriors that make them look more like a site-built home. Some manufactured home communities, particularly those targeted to seniors, also have amenities like clubhouses, swimming pools, spas, tennis courts and even dog parks.

Nevertheless, due primarily to the negative impressions many people have about so-called “trailer parks,” the value of a manufactured home is less than a third of a comparable site-built home, even when variables such as neighborhood, structural characteristics and geography are controlled, according to an analysis published in the Journal of Real Estate Research. The same study showed that many people, including owners, thought that manufactured homes depreciated in value, even though they generally appreciate, albeit at a slower rate than site-built houses. According to the Census Bureau, in November the average sales price of a manufactured home was $62,200, compared with $60,200 a year earlier, a 3.2% increase. By comparison, during the same period, for site-built houses, average prices rose 16% for new homes and 8.1% for existing ones, according to the National Association of Home Builders.

So if you’re just looking to buy a bargain and aren’t fixated on appreciation, then a manufactured home community is certainly worthy of consideration. But there are a few caveats:

First, not all lenders will finance a used manufactured home and those that do charge higher rates than they do for traditional homes. That is partly because manufactured homes appeal to a less-affluent demographic that has a harder time paying when the economy goes sour. If you’re buying in a new community, you may have to accept whatever rates are being offered by the developer.

Second, because manufactured homes cost less than traditional homes, it may be difficult to find a real-estate agent if you decide to sell, since the agent’s commission will be lower.

And finally, costs for the lot and fees associated with the community’s upkeep are often high, and can rival the cost of renting an apartment. Lots can be either bought or leased, depending on community rules; The Journal of Real Estate Research study found that appreciation was better for manufactured homes on owner-purchased lots. If you rent the lot, find out if there are escalation clauses and when they kick in. If you’re priced out of the community and have to move your “mobile” home, it will cost you thousands to relocate it.

Write to June Fletcher at fletcher.june@gmail.com.

New manufactured homes are available in an amazing variety of styles, sizes and floor plans. It’s no wonder they are an affordable housing choice for nearly 20 million Americans. If you are thinking about buying a new manufactured home, here are a few good tips to help you make this important personal and financial commitment.

Defining What You Want

Make a list of your priorities before you begin to shop around. What size, price and type of home do I want? Where do I want the home to be located? What features are absolutely necessary? Will I consider extra features that would be nice to have, but not essential?

• Size, price and type: The most common and economical choice is a single section home with about 1,000 square feet of living space. Average cost for a single section home is around $24,000. Double-section homes are larger at around 1,600 square feet of living space with a selling price of about $43,000. These prices can vary depending on what part of the country you’re in.
• Home locations: There is a wide choice of home locations. You can place your new manufactured home in a rental community, on private land or a planned subdivision. See “Choosing the Right Location” for detailed information.
• Features: New manufactured home interiors include a spacious living room, fully equipped kitchen, dining room, one or two bathrooms, two or more bedrooms, family room and utility area. Exterior designs can be standard or customized to your specifications.
• Extras: Although not essential, you may want to consider features such as built-in stereos (including surround sound systems), appliances, custom cabinets, walk-in closets, bathrooms with recessed tubs, wood burning fireplaces and hip roofs. Since most manufacturers use computer-assisted design, you have a lot of flexibility in choosing floor plans and décor.
• Variety and flexibility: Some manufacturers have many, many floor plans to choose from. Find one with a lot of variety. You may be able to move an interior non-load bearing wall a few inches, but major changes most likely can’t be accommodated in the factory assembly line construction.

Shopping Around

After you decide on the community where you’d like to live and have an idea of how much house you can afford, it’s time to go shopping. Begin your search by visiting a manufactured home retail sales center. Some manufactured home sales centers are independently owned, while others are owned and operated by a manufacturer. Contact your state manufactured housing association for the names and addresses of retailers and manufacturers in your area.

• Visit several retail sales centers and spend time looking at homes, comparing models and prices. To make your comparisons easier, keep a written “scorecard” listing the features of each home.
• Talk with each retailer you visit and ask questions about the home’s floor plan, style, features, construction, delivery, installation and warranty coverage.
• It’s important to choose your retailer carefully. Ask for names and addresses of former customers to contact regarding their homes and after-sale service.
• Check with your local Better Business Bureau, or state and local consumer protection agencies to find out if the manufactured home retailer has any unresolved consumer complaints on file.

Looking At Construction

All of today’s manufactured homes meet the Federal Manufactured Home Construction and Safety Standards (HUD) Code for design, construction, strength, durability, transportability, fire resistance, and energy efficiency. In addition to receiving this guarantee, you should look for the following exterior and interior features to increase the value, durability and quality of your home.

• Choose a shingled roof over a metal roof and make sure it hangs over the edge of the home and is properly ventilated. This may cost a little more, but is well worth the investment.
• Look for a home with vinyl siding because metal or hardboard siding tends to have more water problems than vinyl. Also, make sure the home has 8 feet exterior walls and 7-1/2 feet interior walls to provide higher ceilings and standard-height doorways (although many new homes now have 8′ interior wall heights and cathedral ceilings).
• Double-hung and sliding windows are two common types of windows offered in manufactured homes. If possible, select insulated windows with vinyl frames to prevent air and water leaks.
• Be sure the home’s cooling/heating system is appropriate for the climate in your area. Homes in cold climates should have air outlets placed low around the edges of rooms, while hot climate homes should have air outlets in the ceiling.
• Upgrade to plumbing fixtures made of heavy reinforced plastic or porcelain covered steel. It’s a good idea to ask for a shutoff valve at each kitchen and bathroom plumbing fixture.
• Ask about wall stud thickness and floor joist thickness. Typically 2×4 wall studs and 2×6 floor joists. But homes are regularly built with 2×6 studs and up to 2×12 joists. Thicker framing material means more room for insulation.
• Before you buy: Find a manufacturer you like, and if possible, take a plant tour to see how the homes are built. You’ll get a fresh perspective and appreciation for how your home will be built.

Get It In Writing

There are several documents to look over carefully before you buy your new manufactured home. Ask for a copy of all documents you will be asked to sign. Read them at your own pace, ahead of time, so that you will understand the questions you will be asked, the things you need to know and the decisions you will need to make.

• Review the purchase agreement, financing terms and extra costs with caution. Before you sign an agreement of sale, you might consider asking an attorney to look it over and tell you if it protects your interests.
• Be sure to get a written receipt for any deposit you make.
• The manufacturer of your new home will usually provide a written warranty to guarantee the quality and workmanship of your home for a specified time. Look for a manufacturer that offers a long-term warranty without a lot of exclusions.
• You may also get warranties from the retailer, the transporter, the installer and the appliance manufacturer. Ask for copies of the warranties to review before you buy the home and check them for items that are – and aren’t – covered.
• If your home will be located in a manufactured home community, ask for written documents, such as rental agreements, maintenance agreements, rules, regulations and restrictions before signing a lease.
• Copies of zoning laws, restrictive covenants, water, utilities and sewerage requirements should be obtained before placing a manufactured home on private property.

Getting The Best Price

Buying a manufactured home makes good financial sense. They are less expensive than site-built homes and require a lower down payment. But a manufactured home, like any other home, is a long-term commitment with contracts that can require payments for 30 years. That’s why it is important to avoid a “spur of the moment” buying decision and to resist a sales technique that urges you to sign a contract in a matter of hours or days.

• Getting the best price will take some legwork and some homework. Start by asking for a firm price from several retailers or manufacturers. Prices on the same home can vary widely.
• Check prices on retailer and manufacturer Web sites. Go to the library and check appraisal guides for a similar make and model from the previous year.
• Comparison shop for different brands and models. Get a firm price for each home you are considering. Never put money down without a firm price.
• Look at the big picture and buy the home based on its actual price, not the monthly payment.
• Buy the home that fits your budget and keep the term of the loan to the shortest reasonable time period.
• If the price is too good to be true, it probably is. Watch out for offers of no money down, low interest rates and free options.
• Don’t accept financing terms or conditions that can be changed in the future, and be prepared to stop the transaction if you don’t fully understand it.

Finding any Mobile Home Park or Manufactured Housing Community is FAST – Click on GO!

Although we have over 45,300 mobile home parks and manufactured housing communities in our database, finding a MH property is as easy as Click – Zoom – Click.  First CLICK on the GO! button or this link: Manufactured Housing – Mobile Home MAP. Next ZOOM to your location and last CLICK on the dot. That’s it, from 45,300+ to 1 in 30 seconds or less.

Finding any Mobile Home Park or Manufactured Housing Communiy is SIMPLE

For featured properties, you can click right through to the owners web site and get more details within seconds. If your property is not listed in our free directory, send us an email and we will add it today. In addition to finding any MH property, the map is simple and easy to use. It is designed to allow you to buy, sell, or rent a mobile home park or modular housing community, find an agent, find a moving company, find an attorney, find financing, find an appraiser and other professionals. Other sites with similar data take you through a series of time-consuming steps to find what you want. Then, when you get there, if it’s not what you are looking for, you have to start all over again. We decided to build a better mousetrap. A simple, easy, efficient and fast way of getting you where you want to be. Your time is important. Plus, we know if you have a good experience, you will come back and visit us again. So bookmark this site. Pass it on the a friend. Discover how easy it is to Click and Zoom to the part of the country that you are interested in. You will be amazed at how easy it is. Come back often and discover new features that are planned for the site, new listings that are added and new services that are offered by leading companies around the country. See how easy it is to Find any mobile home park or manufactured housing community in the U.S.

 Finding any Mobile Home Park or Manufactured Housing Community is FREE

It seems that the cost is always buried somewhere under several layers and by the time I get to it, quite honestly, I’m frustrated. That’s not the case with me, so here it is up front, on the first page. It’s FREE. Brose all you want. Take your time. Check out the links. If you want to create a premium listing for a property (or service) that you own there is a small fee ($10/mo for the 1st one, $5/mo for each additional one). No hidden fees, no set-up charges. Keep it as long as you want. Cancel any time. Plus, right now we are running a Special Limited Time Offer. Check below for details

Buying a Manufactured Housing Community or Mobile Home Park, home or lot is fast

Finding an available Manufactured Housing Community or Mobile Home Park, Home or Lot is simple, easy and fast.  First, go to the Manufactured Housing – Mobile Home MAP page. Next CLICK on the filter on the left side that says “MHP for Sale”, “MH for Sale” or “MH Lots for Sale”.  ZOOM to your location and CLICK on the dot to get more information. That’s it – 1, 2, 3, CLICK – ZOOM – CLICK. You can, of course, unclick the boxes you don’t want to see and quickly focus on the ones you want. Quick and Simple, a no-brainer. 

Why buying a Manufactured Housing Community or Mobile Home Park, home or lot is a good investment?

Manufactured housing communities, modular homes, land leased properties and mobile home parks are one of those investment properties that you can buy and immediately start having cash flow. In the current economy, it’s is a buyer’s market. If you are creditworthy and have investment capital, there are some great mobile home park investment opportunities which have 15% plus cash on cash returns and strong cap rates of 9% plus. Tired of negative cash flow on single family homes?  Tired of low cap rates on apartments? Tired of the constant repairs and management problems? Then consider what might be one of the best kept secrets in commercial real estate… Mobile Home Parks!

Search for modular housing communities from the 1 Star trailer parks for sale to the 5 Star Land Lease community. We are new, but we are growing fast because we are easy to use, simple to navigate and affordable. Look at the Manufactured Housing MAP - IT’S FREE. To list your property for sale, the cost is $10 per month. Log in, fill out this form and that’s it.  

The key is the Map. With it you can quickly zoom to the neighborhood that you are looking at. Just enter an address or use the zoom bar and click on the dot for more details. You can also see a street view using the google street view feature or get an aerial view using the map/satellite button. Buying a Manufactured Housing or Mobile Home property has never been easier.

Once you have found the Manufactured Housing or Mobile Home property you want, whats next?

Once you’ve found your property, next comes the financing, appraisal, management, legal, etc. Check our list of professionals who are well equipped to handle you needs.

Sell a Mobile Home Park, Manufactured Housing Community, Home or Lot

Sell a Manufactured Housing Community or Mobile Home Park, Home or Lot it’s simple, easy and fast. Our advertising policy is simple. You get the FREE “Limited Time” 60 days limited time trial then its the Ten Dollar Deal.

• To promote your Manufactured Housing Community or Mobile Home Park – $10 per month get you Featured Property status with a picture and a link to your website.
• To promote a Manufactured Housing Community or Mobile Home Park for Sale – $10 per month gets you on the MHP for Sale map with a picture and a link to your website. If you don’t have a web site, for an extra $5 per month we will link you to a promo page for your property. If you have a Manufactured Housing Community or Mobile Home Park For Sale – $10 per month gets you on the Manufactured Housing – Mobile Home For Sale map with a picture and a link to your website. If you don’t have a web site, for an extra $5 er month we will link you to a promo page for your property. Ditto for Lots “For Sale” or “For Rent” and for those wanting to list their Manufactured home For Rent.

Owner, Brokers, your welcome – list your Mobile Home Park or Manufactured Housing Community, Home or Lot today

• If you are a broker or dealer and want to list more than one property, email to find out about a bulk rate discount. Ditto for Mobile Home Lots and Rentals.
• If you are a broker, dealer, service company, attorney, appraiser or other type of professional who wants to market to the mobile home industry, $10 per month puts you on the map with a picture and link to your company website. 
• The first 60 days are FREE (limited-time offer), cancel anytime.

Stand out in a crowd – sell your Mobile Home Park or Manufactured Housing Community, Home or Lot as a featured property

Affordable Housing is one of the hottest arena in commercial real estate right now. With over 20% of Americans trying to live on $20,000 per year or less, the demand for mobile homes has never been higher — and the big winners are the owners of the mobile home parks in which those customers live. This trend will likely continue to pick up steam in the coming years, as shown by a recent interview with Warren Buffet (one of the largest owners of mobile home manufacturing and financing in the U.S.) in which he talks about the rapid speed of new U.S. household formations and the lack of housing options that they can afford. Case in point, apartment rents and occupancies have never been higher — and the U.S. average apartment rent is close to $1,000 per month. You can imagine the demand in the $500 per month price range, which is the market that most mobile home parks serve. 

To Sell a Manufactured Housing property, maximum exposure is key to getting the most out of your property.  

To sell your property today – put it on the map.

To List a manufactured home for rent follow this link