Tips for Buying A New Manufactured Home
Tips for Buying A New Manufactured Home
Over the past couple of decades, modular homes / manufactured homes have remained an attractive, functional and fiscally responsible option for Americans seeking affordable housing in the US. Typically, these modern-day wonders cost considerably less than traditional site built homes. Unfortunately, not all manufactured homes are built equally… and buyers need to be particularly observant when making this very important decision. In an attempt to make the process a little bit smoother, here are a few tips to consider.
Search for a reputable retailer online: According to some statistics, consumers who took the time and effort to do a little comparative shopping – three dealerships or more – saved on average 9.1% over those that sought immediate gratification; purchasing the first model they fell in love with. Call around some of the retailers you find online and ask questions. Know what you want, how much you can spend, and shy away from those retailers who avoid providing you a written quote on your desired model.
Click here to search for a reputable retailer online
Be inquisitive when it comes to finance: Whether you plan on seeking out independent financing, or plan on accepting one of the many financing options offered at the local retailers… It’s critically important for your financial bottom line to investigate other potential loan sources. Credit unions, commercial finance companies and yes, even HUD offers financing options for manufactured homes. The age-old axiom “Cash is King” comes into play here. The buyer who comes in prepared to purchase, with either their preapproved loan or cash in hand can often negotiate superior deals.
See more tips here: “The 10 Commandments of buying a new manufactured home”
Remain Calm: With all the beautiful options and upgrades that are currently available, it’s incredibly easy to be enticed by the eye-catching possibilities and varied floor plans. However, the future durability of your family residence and the terra firma on which it resides are slightly more critical than the homes feng shui or cosmetic appeal.
Tour Modular Home Communities: In each Planned Unit Development (PUD) there is usually a HOA (homeowners Association), these HOA’s have governing bylaws and monthly dues that can vary dramatically, based on the amenities offered. Visit several of these communities as a means of allowing you to be able to compare and contrast the amenities offered against the monthly HOA’s dues charged.
Last, but certainly not least … ask your manufacturer to provide a good warranty. Understanding who is responsible for what is absolutely critical should something go wrong. Scrutinize which home warranties cover what? And always make sure you’re clear on what the manufacturers and retailers responsibilities are in setting up and servicing your new manufactured home.
