What you need to know buying mobile home in Arizona?
Looking for inexpensive housing options? Buying a mobile homes or manufactured homes might be a alternate option. Mobile homes offer many of the features found in a traditional site-built house or condo, for a fraction of the price. Buying a mobile home may be less a less expensive option than a traditional house, but they’re still a major investment. Read on what you need to consider for buying a mobile home in Arizona.
Understand the different types of mobile homes
There are two basic types of mobile homes in Arizona: single-wide homes and double-wide. Single wide mobile home size is about 10-16 ft x 42-90ft (600-1300 sqft). Double wide is about 20-32ft x 42-90ft (1,000-2,000 sqft). As you can see, a double-wide is about as big as two single-wide homes put together. A single-wide home will be narrower inside. Rooms will be connected by back-to-back walls rather than hallways that separate them. On the other hand, double-wides tend to have hallways and are wider inside. As such, double-wide units tend to look more like traditional single family homes.
New or used
Unlike traditional homes, which typically appreciate in value over time, mobile homes tend to lose value the older they are. While that means that used manufactured homes can be purchased at a significant discount to new ones, it also means buyers need to be vigilant about ensuring that they’ve been well-maintained. Considering hire home inspector to have a full inspection on the mobile home you considering to buy.
Land or no land
Another decision that will make a huge impact on the price of mobile home is whether the mobile home is located in private land or mobile home park. When you stay in a mobile home park you will need to pay lot rent, which might also include other levies such as garbage pickup, gardening, park amenities and others. The park rent is usually affordable, and most should be in the $300-$700 range. You might need to go through the background check and credit check per park policy.
Financing a mobile home
Buying a mobile home differs from buying a single-family home or townhome. The most important consideration when financing a mobile home is whether you own the land or not. Lenders tend to consider manufactured homes personal property, not real estate. Homes not permanently installed on land that you own tend to be classified as personal property. If you own the land and need financing for a manufactured home you may be able to get a conventional mortgage. However, if you do not own the real estate itself, many conventional lenders will not approve you for a mortgage.
Buying information
Just like with any big purchase you always want to do your research before purchasing a mobile home. The Manufactured Housing Industry of Arizona’s site is a wealth of information to help you find a dealer, a community, and even includes floor plan options. If you plan to buy a used mobile home, your local Realtor can help.
Titling your mobile home
Like most states, Arizona requires a mobile home to be titled through the Arizona Department of Transportation site, and if the home has two or more sections, each one must have their own title.
However, if you are placing your home on land that you own, you will need to file an Affidavit of Affixture in the county that you you are living. If you are buying your mobile home from a dealer, they will typically handle all this paperwork for you. But if you are buying a used mobile home from a seller with a Realtor, your Realtor and escrow officer will facilitate the process.
Before you decide to buy a mobile home, weigh the pros and cons to make sure your decision is consistent with both your financial and housing goals. With the mobile homes park fees, your monthly expenses is adding up.
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