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Should I Buy a Mobile Home or a Regular Home?

Towson Real Estate Lawyers at Huesman, Jones & Miles, LLC Steer You Through the Home Buying Process.

Owning a home can be a lot of work and a significant financial responsibility. It is not a decision that anyone should enter lightly. While there are those who envision a two-story house with a white picket fence in the suburbs, such a house may not be feasible for a variety of reasons.

For others, a mobile or manufactured home might be the ideal alternative as it can present the same amenities as a traditional home without as significant an investment. Determining the correct housing for you will depend upon your budget, as well as what your goals are for your new home.

When you do get to that point when you are ready to purchase a home, a Towson real estate lawyer will help you through the process by reviewing important documents to ensure that your rights as a new homeowner are protected.

What is a Standard House and a Mobile Home?

A standard house is built on a location, and it is a permanent structure, meaning that it will not go anywhere. As a homeowner, you not only purchase the structure itself, but the land that it is on. If you are fortunate enough to have your own house built, you can include certain amenities, while purchasing an already-built house means you might have to settle for aspects you do not like completely. These structures are built to last, which is why they can be found all over the country in our towns and suburbs. They are the most popular form of housing.

Mobile homes, on the other hand are completely different. They are often referred to as manufactured homes. They are built in a factory or warehouse before being shipped to their location. Unlike a standard home, these structures are constructed with a steel frame and chassis so that they can be transported if the owner wishes to move.

When you purchase one of these ha mobile home, you do not own the land that it is on. There are many trailer parks where owners rent land to park their trailer on until they wish to move. Alternatively, a mobile homeowner could also purchase land that they will eventually wish to park their mobile home on, although it is not necessary. These homes are ideal for those individuals who are never content remaining in one place at once.

What Are the Differences Between the Two?

There are many differences between a standard home and a mobile home, and those differences may be the deciding factor in your decision on which one is right for you. When you are ready to make that decision be sure to speak with a Towson real estate lawyer who will make sure your paperwork is filled out properly and there are no hidden problems in the selling agreement.

The differences between a standard and mobile home include:

  • Turn around time: When you are having a standard home built the process could potentially take more than a year depending on the location of the home and outside factors such as weather, supplies and other things. Whereas a mobile home to take a few weeks to build at the most.
  • Construction process: An on-site home is built outside meaning it can be exposed to the elements and bad weather. There could also be delays in procuring the right supplies. Mobile homes are built inside, and all the necessary parts are there at the outset.
  • Restrictions: On-site homes are not burdened with as many restrictions as mobile homes. Contractors do need to be licensed and routine inspections are necessary, but that is the extent of it. Mobile homes, however, fall under standards set forth by the Housing and Urban Development (HUD) code. In addition, the restrictions on the local authority you plan to go to could vary depending on where you are going. Some place may not allow a mobile home to replace a permanent one for instance.
  • Financing: There are unique differences in how you finance either house given their respective natures. You can still get a loan for both, but the on-site loan will be a long-term loan with low-interest rates, and tax deductions. You could get a similar loan for the mobile home if you are able to have Is classified as real property otherwise, it will be classified as personal property.
  • Mobility: With an on-site home, you will not be able to move the structure. If you need to relocate for work or other reasons you will have to sell your home and purchase a new one. With a mobile home, you will be able to transport your home to wherever you wish to go provided you can find a location to maintain it.

There are benefits and drawbacks to either option, but you will need to examine what your plans are as a homeowner, your budget, and your schedule to determine which option works best for you and your family.

What Are the Advantages and Disadvantages of a Standard House?

The clear advantage of a standard home over a mobile home is its durability. A standard home can withstand more everyday hazards than a mobile homes and it is built to last. In addition, with your loan and any work you put into your home it is not expected to lose value over time meaning you will more than likely be able to sell your home at a profit. Finally, you can find yourself unique designs in these homes and not the standard cookie-cutter look of the mobile home.

There are a few disadvantages when it comes to standard homes. The cost is the primary one, as your average home can run hundreds of thousands of dollars. You will be locked into a long-term mortgage. In addition, if you want to build your own home the process can take months or years, depending on your expectations and requirements.

What Are the Pros and Cons of a Mobile Home?

There are reasons why would want to purchase a mobile home over a standard home, although they are not the perfect selection either. Primarily, the cost-effectiveness of the mobile home makes them an attractive option for the young couple just starting out.

Many trailer parks develop a sense of community with group events. In addition, you do not have the traditional hang-ups of homeownership that you will find in a tradition situation in terms of property maintenance.

There are negatives that you will have to contend with. While the communities you will find yourself in will be safe and clean, they also tend to be an older community, as many 65 and overlook to downsize their lives in retirement and choose to move to mobile home communities. There are also negative stereotypes associated with living in a mobile home.

In addition, while you can move your home if you wish, it is process and not one that is easy or quick to accomplish. Finally, while you do not have to worry about maintaining your property, you will also not have a lot of it either meaning limited privacy outside your home.

What is the Best Option?

Deciding whether to purchase a mobile home or a standard home can be a difficult one. At the end of the day, you must make the right decision for you and your family. If you are looking for a long-term and permanent solution and can afford it, a permanent home might be the correct option for you.

If money is tight, but you are looking for greater flexibility in where you wind up, then you might wish to go with a mobile home. No matter what you choose, be sure to speak with a Towson real estate lawyer before you start the purchasing process.

Towson Real Estate Lawyers at Huesman, Jones & Miles, LLC Steer You Through the Home Buying Process

There is a lot of paperwork involved when purchasing a home and one missed document or poorly worded contract can ruin a sale or at least significantly delay it. Our Towson Real Estate Lawyers at Huesman, Jones & Miles, LLC will go over all your documents to be sure everything is in order and there are no surprises within your contracts. Call 443-589-0150 or contact us online today to schedule a free consultation. Located in Hunt Valley and Towson, Maryland, we serve clients in Baltimore, Baltimore County, Bel Air, Bentley Springs, Columbia, Freeland, Hereford, Hampton, Westminster, Essex, Monkton, Sparks Glencoe, Parkton, Phoenix, Pikesville, White Hall, Carroll County, and Harford, Maryland.

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