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7 Things You Should Know When Buying Your First Manufactured Home

  1. Know What Price You Can Afford This is where I recommend to understand your budget. There are a lot of different ways to buy a manufactured home – Cash, terms, or financing. If you are financing a home with park rent, you need a lender who finances chattel property. The big banks normally don’t and its best to use local banks for this scenario. If you’re buying a home in Florida, we have a list of lenders, just call, stop by, or reach out to us.

  2. Budget for Lot Rent (AKA Community Fun Fees) We call these community fun fees because these fees don’t just represent renting the lot your home is on, it’s so much more. It’s lifestyle. It also is water, sewer, trash and lawn care services as well. Depending on amenities or services, lot rents vary. For a community with no frills, no pool, just a small clubhouse, these communities may be under $300 per month. For more of a grand lifestyle, fees may run $500-700 per month, and if you're interested in a waterfront lot or a golf course fairway lot, it's closer to $800–1,000 per month. Remember though, you don’t pay any real estate taxes and the waterfront homes come with boat docks, access to a chain of lake system, and some of the best bass fishing in Florida.

  3. How to Offset Community Living Expenses The easiest way to work this out is by taking some time to do the math. You bought a $50,000 mobile home with 10k down and a 15-year payment of $380 per month. Lot rent is $550.00 so for $930 per month you have a beautiful 1,300 sq ft 2/2 with a Florida room, carport, and shed. You’re living the dream. Meeting new friends, joining clubs, going to bingo. What you don’t realize is the opportunity. You can become an IPA with Sunbelt Homes and we will pay your expenses and a whole lot more! IPA = In Park Agent. You can team up with a SunBelt Agent and we will show you how to list and sell homes in the community you live and play in. It’s simple and easy, and as I write this Article, Carl our 83 yr old IPA just sold 5 homes last week! Be like Carl.

  4. Close to Everything or Out in the Boonies Location! Location! Location! After you find what you can afford then it’s time to match communities and locate a home in that community. Some of the questions to ask and determine what’s best for you when choosing a community location are: - How close to gas, supermarkets, hospitals, pharmacies, restaurants and entertainment do you feel comfortable with? - When you choose the community, can you afford a premium lot, corner lot, waterfront lot, or interior lot? Dealing with a SunBelt agent can help with these stressful and overwhelming decisions as we guide you to your perfect home by listening to your needs and making sure they're met.

  5. Have an Inspection Wow! You found a home and want to buy it! Now, it's time to ensure it's a home that'll be fun and functional. Here are some items you want to be cautious about: - The roof - The AC - The Plumbing - And the Electric We are finding some of the older models have polybutene plumbing or federal pacific electric panels. This is the same for manufactured homes or stick built homes. We recommend a full home inspection or at least a 4 point inspection, so you have peace of mind and know what kind of repairs or maintenance, if any, the home may need.

  6. Park Approval Process Before you finalize the sale, you must be approved by the community to live there. It normally takes up to 3 days. They will run a background and credit check, and you will need to provide proof of income, and other documentation.

  7. Other Fees Like anything you buy, there are always other fees involved. In most cases you, will have fees such as sales tax, closing fees, title transfer fees, pro rated lot rent, and inspection fees on the closing statement. SunBelt will provide you with a written list of other fees BEFORE you sign on the dotted line so you know clearly what the real bottom line will be! We handle everything.

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