Mobile homes, sometimes called manufactured homes, have gained popularity in recent years due to their affordability, safety, and flexibility. These homes are made entirely in a factory and then moved to your desired location or you can purchase one that is already located in a mobile home park. Mobile homes are not necessarily truly mobile since they are semi-permanent but have mobile capabilities when necessary. Most mobiles you will find in Canada are either single-wide (90 ft long and 18 ft wide) or double-wide (over 20 ft wide).

These home are a good option for those wanting to get their foot in the door but may not be able to afford the prices of traditional homes. To help prepare anyone who is thinking of purchasing a mobile home, we have listed five things you should know before buying!

Proper Installation is Crucial

If you are purchasing a mobile home to then be transported to a property, having the home be correctly installed is crucial. Approximately 80 percent of warranty complaints are regarding damage to the home during installation. This can then lead to issues with plumbing and/or bowing in the home. There are numerous types of foundations that are available for mobile homes that will help ensure that it is properly installed and situated. Oh and don’t forget, make sure there is a slope on one end around the house to ensure water does not pool underneath.

Mobile Homes Can Depreciate in Value

Unfortunately, mobile homes can depreciate in value once it leaves the factory and renovations may do very little to increase the value of the home over time. If increasing the value is key for you, consider purchasing the underlying land. That land is considered personal property and could see an increase in value mainly as a result of the land.

You May Not be Eligible for a Conventional Mortgage

Unless you have purchased the land your mobile home will be going on, getting a mortgage for a mobile home can be trickier. If you do not own the land or if you own the land but your mobile home is moveable, then it is typically not eligible for a traditional mortgage. Personal loans are likely your best option in these cases but make sure to take a deeper dive and talk to your financial institutions about what options will work and are best fit for you.

Mobile Homes are Cost Effective and Low Maintenance

Due to the size and the durable, modern materials used in mobile home construction, little maintenance is required. It can also be more cost effective as you are not only spending less to maintain the mobile home but also to run it as well (electrical and water). There are typically monthly pad rentals if you choose to live in a mobile park but in comparison it is still more affordable than paying rent for a home you do not own or the monthly mortgage rates and extra fees of a traditional home.

Electrical Certification is a Must

Having a licensed electrical contractor inspect your home’s wiring to make sure it meets safety standards, whether it’s post-installation or if you are buying one already in a mobile home park, is crucial. An electrical approval label can be used in lieu of a CSA label if/when you list the manufactured home for sale. Plus it is also greatly important for your own safety while you reside there as most mobile home fires are due to electrical issues.

Mobile homes are an excellent option for buyers looking for an alternative home in the current housing and affordability crisis. We wish you best of luck on your future mobile home endeavors!