If buying a traditional home is too overwhelming, consider living in a mobile home as an alternative option. Because mobile homes are extremely customizable and cost-effective, they are an excellent choice for families and individuals of all sizes and lifestyles. One of the advantages offered by mobile homes is that they are usually a cheaper option than having a home tailor-made for you. In this sense, mobile homes can facilitate the purchase of a home.
And because mobile homes typically cost less per square foot than a house built with sticks, you can get more space for your money. During a natural disaster, such as an earthquake or severe storm, mobile homes may be more prone to damage. While mobile homes are not easily removed from the land once placed, they are still considered personal property (although in many places, a person who owns both the mobile home and the underlying land can turn the mobile home into real estate if they take some affirmative steps). And thanks to the red-hot housing market in most areas, many people are considering saving money and opting for mobile homes.
A person who owns both the land and the mobile home could see the value of the combined property increase over time, but that's likely because the underlying land increases in value, not because of the mobile home. However, despite significant advances in the quality of mobile home construction, mobile home ownership remains a stigma that could discourage some buyers. If the average person can look at their mobile home and think it arrived in a truck, their home won't increase in value. At some point, the landlord might decide to evict you, in which case you'll have to move or sell your mobile home.
Alternatively, mobile home owners can place mobile homes on land they own or are buying under contract. There are some stick-built home builders that have standard floor plans and options that allow them to build homes at prices similar to those of mobile homes. Factors to consider, such as costs, laws affecting the value of mobile homes, and low-cost alternatives built with sticks, vary from region to region, so be sure to do your research. The additional disadvantages of mobile homes have to do with the fact that they are usually located in a mobile home park.
A final disadvantage is that, unlike houses built with sticks, which are built on permanent foundations, mobile homes are usually placed on temporary foundations. And that estimate, by the way, refers to mobile homes that were built according to current HUD building codes and building regulations. Therefore, people living in mobile homes are highly vulnerable to natural disasters, such as hurricanes, tornadoes, floods and fires.