Essential Tips for 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. Apart from that, we have used manufactured homes which will allow you to save a lot of cash in the long run. But you should ensure that you have a thorough inspection completed before you purchase.
Another factor that you need to consider is 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.
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. Before you purchase a manufactured home you should 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. Not only that but when you live in the community you will get many amenities but you will have to lease the land.
In addition, you will also have to think of the designs. This will require you to go with the design that has customization that meets the needs of your family. You find that used manufactured homes will not allow a lot of customization but you will be free to choose the one that meets your needs.
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. But it is essential to follow the homeowner’s manual so that you can benefit from warranty.