Have you ever dreamed of owning your own home?

There are currently over 43 million homes being rented throughout the United States. If you’re one of those renters and want to call yourself a homeowner instead, you may consider buying a mobile home.

Before you do, we’ve gathered a few pros and cons that you need to be aware of before jumping into homeownership.

Keep reading to find out more about whether or not buying a trailer home is the right option for you and your family.

Pros of Buying a Mobile Home

Let’s go over the three main advantages of buying a mobile home.

Affordable

Generally speaking, mobile homes are far more affordable than a traditional house. This is particularly true if you’re prepared to buy it with cash since loans for mobile homes do have higher interest rates.

Flexible

If you get tired of living in your mobile home community and want to buy your own land, you don’t have to abandon your house. For far less than the cost of building, you can have a mobile home moved to a lot.

Less Major Repairs

Mobile homes are built to high standards with quality materials in carefully-controlled environments. That alone means you don’t have as many repairs to worry about.

Other major concerns such as foundation issues aren’t things a mobile home owner has to worry about.

Better Community

In most trailer parks, the community is close. It’s great for families with kids that want an easy way for their kids to make new friends.

Besides that, having things like shared community propane tanks can help you avoid running out of gas at a bad time.

Cons of Buying a Mobile Home

While buying a mobile home may sound like a great idea at this point, there are some drawbacks that you need to consider before buying one.

Renting Land

The majority of mobile homes are set up in trailer parks. So, unless you own your own property, you will likely have to continue renting for a while longer. However, mobile home lot rent is typically far less than that of a home.

Difficult to Sell

Mobile homes are notoriously difficult to sell, which is part of what makes them so affordable to purchase. However, if you’re hoping to sell your home in a few years, you may want to steer away from a mobile one.

Depreciate in Value Quickly

The final concern for many people that prevents them from buying a mobile home is that they don’t maintain their value for long.

If you’re looking at new mobile homes, this is particularly concerning. However, if you’re planning on being in your mobile home for a while, then this usually isn’t a big deal since the price of real estate will go up enough to compensate over time.

Ready to Be a Homeowner?

Now you know the pros and cons of buying a mobile home. Hopefully, you now know if this is the right choice for you and your family.

If you’re ready to become a homeowner, contact us today. Whether you want a mobile home or a traditional house, we can help turn your dream of homeownership into a reality.