| "> | | | | - Drilling a well & building a septic system if |
| Are you about ready to take the plunge? Perhaps a | | | | necessary |
| manufactured home appears to be the quickest and | | | | - Insurance costs |
| easiest solution to your need to own a home. But, | | | | - Lending costs |
| you're not sure and you probably have some | | | | You can see that there are considerable additional |
| confusion over the prices you're being quoted. This will | | | | charges and costs involved in reaching the point of |
| help you. | | | | living in the home. There may be even more in your |
| Don't Focus on the Price Tag | | | | location. There's also a big difference between |
| While various manufactured (mobile) homes come with | | | | choosing a mobile home park without a permanent |
| their specific price tags, the real cost is determined by | | | | foundation and setting your home on a permanent |
| many other factors. By "real cost" I mean that bottom | | | | foundation on land that you own. |
| line figure once everything is done and you've moved | | | | A Look at Lifetime Value |
| in. After all, if you're comparing the cost of owning a | | | | Comparing costs is only part of the important equation. |
| mobile home vs. building a "stick-built" home, you want | | | | What are you getting for your money? History has |
| to be sure you're comparing equally. | | | | proven that the value of mobile homes declines over |
| Now, you will certainly want to compare the price tags | | | | the years. And, unless laws and perceptions change, |
| between one manufactured home and another but | | | | this will continue. |
| just remember two things: | | | | Conversely, for various reasons, the value of site-built |
| 1) Always be sure you're comparing apples to apples | | | | (stick-built) homes tends to rise over time. There are |
| by personal inspections and analyzing size, lay-outs, | | | | ups and downs, to be sure, but over the years we |
| features and quality, and | | | | experience rising resale values in stick-built homes and |
| 2) Keep foremost in your mind that the price tags for | | | | dropping values in mobiles. Let this fact guide your |
| these mobile homes represent but a fraction of that | | | | decisions if long-term resale value is important to you. |
| "bottom line" I was talking about. | | | | Advice From a Lifetime of Experience |
| Other Costs Associated With Buying a Manufactured | | | | Manufactured homes have their place. I favor them for |
| Home | | | | people who: |
| So, what are the other costs besides the mobile | | | | - need a quicker solution for a home than building from |
| home's price tag? That's going to depend on where | | | | scratch |
| you're planning to locate your home. Will it be in a | | | | - want to live in a small community (like a mobile home |
| mobile home park? Do you own the land where it will | | | | park) with little or no grounds and upkeep required |
| be placed? | | | | - are not concerned about building equity |
| Consider these factors before you jump: | | | | On the other hand, I favor a stick-built home for those |
| - Delivery and set up charges | | | | who own their land. This could be acreage, farm land, |
| - Clearing the site | | | | ranches or anywhere that stick-built homes are |
| - Costs of foundations and excavation ... depending on | | | | predominant. In these cases, long-term value is |
| location | | | | important. Stick-built homes offer that potential and |
| - Permits & fees | | | | manufactured homes do not. |
| - Rental fees if you are in a park | | | | Whatever your needs, keep studying, keep learning, |
| - Hook up charges for utilities | | | | and you'll make the right decision. |