what could go wrong with a mobile home?
Manufactured Homes September 27th, 2009so I’m thinking about purchasing a mobile home (no it’s not a trailer but a modular home)…and its about 30 years old. i was wondering what types of things could go wrong with it? is it same as a house or are there other things to consider? It looks really well taken care of and the roof was just reshingled 3 years ago
any advice for me?
September 27th, 2009 at 3:32 pm
A mobile home is very different than a "modular" in the eyes of the lenders. You will not be able to get financing for a mobile home UNLESS it is on a permanent foundation. Neither of them appreciate in value like a stick built home. I believe it is a bad investment, unless it is all you can afford. If the home is 30 years old it is probably not as well insulated as today’s requirements, therefore it is probably not energy efficient and will cost more to heat and cool. The other negative is that after 20 – 30 years even stick built house need updates, and I wouldn’t imagine pulling the trailer apart to repair would be easy to find parts for as it is a "manufactured" home and everything, other than maybe the appliances, are usually non-standard sizes. The doors and windows are definitely non- standard in size. You can’t upgrade by installing storm windows or even replacements, so again bad investment.
If you can afford to buy this outright, only the land will be the "good investment" if it even comes with land. I would suggest you pick a lender and ask ahead of time before they pull your credit about purchasing a mobile or a modular compared to a stick built home. There are mortgage brokers that can advice you on this. If you can only afford a Small mortgage maybe you could look around for a cheaper home and get a "cost to cure" loan for a stick built house that is not in perfect condition. A "cost to cure" loan allows you to buy the not-so-perfect house for an affordable price and then monies are put aside to pay the licensed contractors to do the repairs. As an example let’s say you bought a house that need the central a/c heat system replaced, about 5000.00, you would get the loan for the full amount of the sales price plus the 5000.00 and the lender pays out the 5000.00 to the contractor as needed until complete.
September 27th, 2009 at 3:32 pm
Depending on where it is, it may be registered through the motor vehicles dept. That means it loses value instead of like a house that increases in value. The park it is in may have a pull out rule which states after a certain age they can make you move it. They do that so they can keep the park looking up to date. The technology has changed through the years so you may want to check the model you are looking at to make sure it still meets code. Although they seem like a good deal, they usually have some catches that you either are willing to live with or buy conventional. Good luck
September 27th, 2009 at 3:32 pm
generally the problems present themselves at the installation site… (i.e. trim work, where the sections are joined, etc.). apart from that, you are generally looking at normal wear and tear issues.
edit: typically, if it is installed as a modular (no wheels and permanant foundation) it will appreciate rather than depreciate.
September 27th, 2009 at 3:32 pm
Check the wiring. It is in the age group where aluminium wiring was used. A lot of fires happened that were traced back to the wiring. After that, check the normal things, plumbing. sturdiness of shower walls{many were just 2×3, covered with marlite and rotted out because of dampness}. Get underneath, and check for water damaged flooring. I have replaced many sq. ft. of subfloor. Otherwise, treat it as any other home you would look at.
Good luck.
September 27th, 2009 at 3:32 pm
I would have a home inspector check it out. May be the best few hundred you will spend before the purchase. You don`t want to get stuck with a fixer upper.
September 27th, 2009 at 3:32 pm
the seller might want you to think "its not a trailer its a mobile home".But you should be more concern on what the bank or your financial institution thinks about it.For many, if you can see axles underneath it then its a trailer,no matter how nice it looks.
And if that is the case beware.
I work building mobiles, and right business are BAD because a lot of banks won’t finance them,for them mobiles will decrease in value over time instead of increasing like conventional home will.
Other then that mobiles are built ,some times better than regular houses.
September 27th, 2009 at 3:32 pm
Is it a mobile or modular home? A mobile home fits on a flatbed truck, a modular home they ship pieces to the site and it gets put together on site.
A modular home can have all the same problems as a new construction home, bad construction, crappy workmanship, zoning problems, bad drainage, etc. Modular homes are often advertised as being better then on site construction because the frame is built in a climate controlled environment. This makes sense to me, but I really don’t know. Mobile homes are a whole other story.
September 27th, 2009 at 3:32 pm
A lot of times poorer-quality materials are used in the construction of these types of homes, and, as you’d suspect, lower-quality materials don’t hold up as well. You will want to carefully look at everything — from windows to door hinges to carpeting to tub surrounds to facets and more. If you have an opportunity, take a tape measure and a notebook to visit the home, and take measurements of things like the kitchen sink (length and width as well as depth), door width, kitchen counter depth and windows. Compare the sizes you measure with potential replacement items at any home store (like Home Depot or Menards). Many mobile and modular homes are built with 3/4-size fixtures, making it impossible to easily replace worn out items or upgrade to nicer fixtures. Don’t forget to check all the "normal" things too, like age and condition of the heating and air conditioning systems, appliances, floor coverings, etc; whether the electrical and plumbing systems are adequate; the neighborhood and schools; etc.
September 27th, 2009 at 3:32 pm
What could or WILL go wrong with it?
Depreciation. Pure and simple.
Mobile homes, modular homes etc.. are all in the same category as far as value. You are putting your money into something that is and will be losing its value. If it is anchored onto some land that comes with it, figure that you are paying primarily for the land.
September 27th, 2009 at 3:32 pm
Modular homes are actually titled/registered thru DMV – you need alot more insurance on one as well – FEMA does a flood location survey on it ( unless you pay cash) due to the mortgage. As suggested – being that old- the wiring could be an issue ( unless changed to romex) the older the trailer the plastic piping can be another issue ( valves and lines break easier) – flooring is that inexpensive laminated wood- once it gets wet, it detiriorates – you also have to figure on insulation for both hot and cold climates. Is it in a park or does it have its own property? Windows – are they insulated or single pane? Its close to house – looks wise, but theres alot of differences elsewhere ,specially at purchase time. I definitly suggest a home inspection by a highly trained and well known home inspector before purchasing it – we did.
We did a ‘fixit’ clause – any more then $1000 and we had the option to walk away.
September 27th, 2009 at 3:32 pm
We used to live in a manufactured home and it was a nightmare. Very poor building material. Bad wiring, Very hot in the summer and cold in the winter. It is almost impossible to find replacement fixtures because everything is just a bit smaller then the usual size. Cupboard height, sinks , toilets, windows. It isn’t possible to buy a dishwasher and install because the cupboard height is just a squeak too low. Sinks are 6 or 7 inch depth which is a real pain. Walls are not insulated like a real stick built home. Unless it is a temporary thing I would not purchase it… look for a regular home instead. Even a fixer upper is a better investment.
September 27th, 2009 at 3:32 pm
Now you really have arrived. You are officially trailer trash.
September 27th, 2009 at 3:32 pm
see ridder
September 27th, 2009 at 3:32 pm
A thirty year old modular home is pretty wore out. Have a good home inspector go over it and give you a report.