Buying Used Manufactured Homes: How to Get a Good Deal

Used manufactured homes offer significant advantages over purchasing a new home. It is important to know what to look for when buying used manufactured homes to prevent problems down the road. Unlike stick-built homes, manufactured homes usually depreciate over time. A savvy buyer can use this to his advantage.

Site Work

The biggest cost savings a used manufactured home has over a new one is that it is usually located on land. This can save you almost half the cost of purchasing a new home. When you purchase a new manufactured home, site work has to be done to prepare the lot for the home. Site work includes everything needed to clear the lot and run utilities.

Depreciation

Used manufactured homes depreciate over time. If the home is tied down to a block or cement foundation, this may not be the case, but in general used manufactured homes are worth less than new ones. Sellers may ask top dollar for their home and compare it to stick-built homes in the area. A savvy buyer will know that manufactured homes actually depreciate, and will make an appropriate offer — even in areas where home prices are on the rise.

Exterior Issues

Is the home tied down to a foundation? This is a plus, especially in areas prone to tornadoes and hurricanes. Does it have skirting, or is it enclosed with block, brick, stone or cement? Permanent tie-downs and block enclosures make a home worth more. These are upgrades on a new home and add to the base price. On a used manufactured home, these options reduce or eliminate the depreciation rate. Use this as a bargaining point to get the best possible deal.

Know what the exterior of the home is made of. Hardboard siding is an upgrade on some models, and you have to look at it carefully. In fire-prone areas, this is a plus because it is not flammable. It is easy to change the color because it can be painted. Vinyl siding is more common but costly to change.

Interior

When buying used manufactured homes, see if the homes are level. Sheet rock gives you a clue. If homes are not level, you will see cracks starting under windows or near doors or corners. They may be larger at one end than the other. Another way to tell is to bring a marble with you. Place it on the floor or counter. If it rolls away, there are issues with how level the home is. This can be a bargaining item, or it can be a deal breaker. Find out how much it will cost to make a home level.

Being an informed buyer will greatly reduce the headaches involved with buying a manufactured home. Used homes offer great deals and are better than new ones, in many cases. Knowing what to look for will help you get the best deal possible.