Are you spending a lot of time thinking about the mobile home lifestyle and how it might work for you? If you’re a young person just starting out after college or marriage, the mobile home life can look particularly attractive. And used mobile homes, in particular, are a great in-between stage before buying your first stick-built home.
Now, for some of you, buying a mobile home sounds exciting and full of potential. But others of you may be wondering if it’s a decision you’ll regret later. “What-ifs” abound. But to clear these questions up once and for all, today we’re going to talk about the pros and cons of buying a used mobile home as a starter home. Let’s take a look at whether you should consider it a viable option.
Battling buyers remorse
The first question you’re probably going to ask is this: will I end up regretting purchasing a used mobile home as a starter home? Well, the answer is complicated. In many cases, people regret big decisions they make on a whim or without a healthy dose of research beforehand.
Our biggest piece of advice to you is to do your research. If you can, sit on your options for a few months. Ask friends and family what their experience with starter homes was like. Talk to mobile home owners. Read mobile home living blogs to get a feel for what your life would be like living in a mobile home.
Purchasing a used mobile home
Why purchase a used mobile home as a starter home? Wouldn’t a brand new one be better and last longer? Well, the good news is, you don’t need this mobile home to last a long time. This is just a starter home, and you probably won’t be living in it for more than five years (at the most!). Secondly, a new mobile home might sound nicer, but once you look at the numbers, you’ll start to see the advantages of buying used.
The long and short of it is that used mobile homes are significantly cheaper than new ones. So yes, you may even decide to purchase a fixer-upper. That may sound daunting, especially since this is your first house, but you’d be surprised at what good deals you can find when you’re not picky. Did you know a used car can actually be more expensive than a used mobile home? It’s true!
Selling a used mobile home
Of course, since you are buying a used mobile home to begin with, when it’s time for you to turn around and sell it, it will be even more used. This is called depreciation, and if you want to know more about it, check out our FAQ: Can I Prevent My Mobile Home From Depreciating? Depreciation is a normal part of life in the property-owning world. However, if you are strategic, you can get a good price for your used home later on.
Tips for a fast and successful sell
Someday, when you’ve gotten your mileage out of your starter home, it will be time to sell and move on. You want to plan for that time now by choosing your location wisely. Even if the location isn’t your cup of tea, if others are flocking to the area, it might be a good idea to compromise so you can be sure of selling when the time comes. And even if your home is move-in ready, there are many things you can do to increase its value. Install energy-efficient windows and insulate the walls, underbelly, and skirting. Paint, install better flooring, and replace the siding.
Now, when you’re all set to sell and move into your big, beautiful stick-built dream home, you’ll be fully prepared! And don’t be apprehensive about selling your mobile home, even if you’ve never dealt with selling a home before. Selling a mobile home can different than selling real estate. There may be less paperwork, less hassle, and a faster process.
One last tip: if you’re looking to sell your mobile home fast, you have several options. You can hire a real estate agent to handle the deal professionally, or you can sell it to a mobile home buying company. A mobile home buying company, such as EZ Homes, will normally buy your home for cash and get it off your hands quickly. Now, of course, another option is to sell your mobile home yourself. But since you’re probably eager to get settled into your dream stick-built home, the first possibilities outlined above are your two best options for selling a used home fast and with minimal headaches!
Will you regret a mobile home starter?
If you do your research and decide that a mobile home is your best bet, then go for it! Purchasing a used mobile home, living in it for a few years until you find your feet, then transitioning into a stick-built home can be one of the best decisions of your life. Undeniably, used mobile homes make great starter homes. But, ultimately, choose the starter home option that works best for your particular lifestyle. You may be in a position where renting or purchasing a stick-built home is a better option.
If you do decide to purchase a mobile home, be sure to read our first-time mobile home buyer’s guide to setting up a mobile home.