It’s the year 2019, and one question that still remains a mystery, at least in the eyes of most of the internet, is whether or not buying a mobile home is a smart financial move. I like to think those of us who are ready to purchase a new home understand the significance of doing so. And prove our understanding by researching everything we possibly can, or talking to those who have trodden the path, before moving in any direction.
It’s with those who seek financial responsibility in mind that we write this article. We want to dispel the internet’s lies about mobile homes by bringing helpful truth to this subject: “Why buying a mobile home in 2019 is a smart financial move.”
1. Mobile Homes Are Great First Homes
The transition from apartment living to full-fledged homeownership can come as a shock to most, especially those who have never lived in an actual brick and mortar home before. The fancy-free, no worry living that you’ve become accustomed to while living in 
a multi-family complex (just a fancy word for an apartment) is one of the first things that goes out the window when you become a new homeowner.
While before you only needed to make sure you paid your rent on time each month, relying on the apartment super or maintenance man to fix whatever ailment your apartment had, now you’re responsible for any and all issues your home may have. From busted water pipes to cracks in your foundation, owning a home is just that, owning your own home and owning whatever issues come with it.
While that is still the case with mobile homes, it’s to a much lesser degree when you purchase a mobile home. All homes will have maintenance costs but a mobile home which typically costs less than a site-built home (about half as much on a square foot basis) will have significantly fewer costs because you will have paid a significantly lesser price for the home.
Along with paying a lower purchase price for a mobile home, you will also have the luxury of paying a lower mortgage, should you choose to finance.
2. Mobile Homes Can Be Financed
Inaccuracies are prevalent when it comes to mobile home living and one of the most mistaken notions is that you cannot finance a mobile home. According to the HMDA or the Home Owner Disclosure Act data from 2012, “…loans for manufactured homes represented 2.5 percent of all first-lien home-purchase transaction to owner occupants.”
Now you should consider that this data is from 2012. Here in the year 2019, those numbers have more than likely continued on an upward trend. This means loans for mobile or manufactured homes have been and will continue to be offered.
With the ever-increasing number of options borrowers have and the lower overall cost of mobile homes, you can be sure loans will continue for this unique home style.
3. Buying a Mobile Home is Better Than Renting
Any realtor that’s worth his or her salt will tell you that renting is usually a bad financial move. Why? Because renting someone else’s home offers absolutely NO return on investment. In other words, you do not stand to financially gain (in any way) from the investment you put in by paying your rent, even when you pay it on time. Instead, what you are doing is paying someone else’s mortgage and building up their investment.
This is one of the main reasons buying a home, specifically a mobile home, is such a great financial investment, the money you put in should one day yield a return. And 
when that happens, quoting one of our favorite movie lines, “…that’s when the big bucks start rolling in.”
So in conclusion buying a mobile home in 2019 is a smart financial move because mobile homes make great first homes, costing significantly less than site-built homes. Contrary to popular belief they can also be financed, and lastly, buying is always smarter than renting.
Ready to make that move from renter to homeowner? Contact us today, on the web or give us a call, to find out more information, get a quote or come in to visit one of our many mobile home models.
