Double-wide mobile homes are considered an affordable housing option. It makes homeownership simple and more accessible. They have become a popular option for individuals and families to own a home.
These mobile homes are also known as manufactured homes, and they are made in factories. They offer a wide range of benefits and are an alternative option to traditional houses. Mobile homes have become a revolution in the housing market.
Purchasing and living in a double wide mobile home comes with its set of advantages and disadvantages. There are various factors to consider before you decide to purchase a mobile home.
You can read through this article to understand the various pros and cons of double wide mobile homes.
The Pros of Double-Wide Mobile Homes
The pros of double wide mobile homes are as follows –
Affordability
One of the biggest advantages double wide mobile homes offer is the affordability of buying a house. These homes are cost-effective and aren’t as expensive as building a regular site-built home from scratch.
These homes are made in factories and make it easier for you to fulfill your dream of owning a home on a budget. The price per square foot of mobile homes is comparatively much cheaper than that of site-built homes.
For many people, owning a home is a dream. Double-wide manufactured homes make this dream easier and more affordable to achieve. You also have the option to purchase a new or pre-owned mobile home, depending on your budget.
Spacious Living
A double wide mobile home also allows for spacious living. There is plenty of space available for families to live comfortably. It can easily accommodate even larger families without any space constraints.
These homes are built as single units in the factories and then assembled on-site to create a double-wide home. Mobile homes may seem compact, but they are convenient and comfortable to lead a cozy life with the necessary amenities.
Double-wide homes are an affordable option with more square footage than single-wide homes. They come with a large living room, additional bedrooms, and other amenities designed for larger families to live there comfortably.
Customization
There’s a high level of customization that comes with mobile homes. The options to customize the double-wide home are limitless, with a wide range of floor layout plans you can choose from.
These homes can be tailor-made to fit your style and preferences to transform into your dream home. You have the freedom to modify and adapt the mobile home structure to reflect your taste and style.
You can customize your mobile according to your level of comfort and the necessary functionality you require to suit your lifestyle. The flooring, interiors, energy-efficient features, etc., are your decisions to make.
Quick Installation
Mobile homes are quick to install, and the construction process gets over within a short period. These homes are manufactured in factories, and the process doesn’t take as long as a regular home.
A double wide mobile home can be constructed and installed quite fast and efficiently. You can choose to construct one from scratch or a mobile home that’s already contracted and installed in a mobile park.
The benefit of getting your house quickly and easily installed is you can move in and begin living without waiting for too long. You can also relocate the homes to various places without much difficulty and can also use it as a temporary housing solution.
Energy Efficiency
Mobile manufactured homes are energy-efficient and environmentally sustainable. They are a more eco-friendly housing option than traditional homes.
These homes are manufactured in factories and generate less waste when compared to houses built on the site. The mobile homes are built with energy-efficient walls and appliances and water-saving faucets. All this contributes to a much more sustainable living environment.
If you’re someone who thinks about the sustainability factor of things, then this type of mobile home can be a perfect fit.
Community Living
Mobile homes encourage a community living arrangement. It allows you to form a community with other people. The mobile park communities have amenities, facilities, and shared spaces, like playgrounds, fitness centers, swimming pools, etc.
This living arrangement lets you create meaningful bonds and forge friendships with those living in that mobile park. There is a sense of belonging, and you can also have a support network in the mobile home park that you can rely on.
This community living concept can also enhance overall well-being and quality of life. You can find a community that suits the lifestyle of you and your family.
The Cons of Double Wide Mobile Homes
The cons of double wide mobile homes are as follows –
Value Depreciation
One of the major disadvantages of a double wide mobile home is that it depreciates in value over time. When compared to traditional homes, the value of mobile homes depreciates as the years go by.
The value of traditional, stick-built homes will be appreciated over the years. However, these mobile homes don’t have a good price valuation later, which can be a disadvantage.
The depreciation of these double-wide homes is similar to that of cars. They don’t bring in a substantial amount when sold as their value decreases.
Land Lease Costs
A land lease situation is quite common when it comes to mobile homes. You only own your mobile home as an owner but not the land the home is placed on. The landowner leases the land, and you incur the costs for that.
One of the issues is that the land lease costs can potentially increase over time. This means that you will have to pay more rent to lease and live on that land. The land lease costs can add to your overall expenses.
The rent rates can also increase, which can become a financially difficult situation. Additionally, you will have to follow the rules and regulations set by your landlord. So, despite owning a home, you will still have to pay the rent and comply with a landlord.
Limited Resale Value
The resale value of double wide mobile homes is quite limited. As double wide trailers are personal property, they depreciate in value over time. It would be difficult to get a good amount as a resale price compared to a traditional house.
This makes the resale value of your home quite low. The price at which your mobile home can be sold is at a lesser value. You may get an amount lower than the original price you paid for the purchase.
It is also not an easy task to resell your mobile home in the future. Finding a buyer to move into the home, especially one located in a mobile park, may prove difficult to sell.
Zoning Restrictions
There are zoning restrictions that apply to a double wide mobile home. They are local laws and regulations developed by local authorities. The regulations restrict mobile homes in certain geographical areas.
These zoning restrictions mean that your mobile home cannot be set up in certain areas of the city. These regulations can prove to be a disadvantage when it comes to the location of the home.
The location restrictions include certain places in the city where the mobile trailers cannot be installed. There are specific zones and regulations that can make the homeownership experience inconvenient.
Maintenance Requirements and Cost
The maintenance requirements and cost of double wide trailers are quite high. Regular maintenance and checks are crucial to maintain the value of your manufactured homes. This can also extend the life of your mobile home.
The cost of maintaining the mobile homes can increase your expenses. Proper maintenance and care are a must-do for these homes, as the costs can sometimes be more expensive than those of regular homes.
You will need to ensure any repairs required are done immediately to avoid making things worse. You can check the roof, foundation, skirting, floors, and walls for cracks and damages as a preventive measure.
Financing Challenges
A double wide mobile home also comes with its own set of financial challenges. They are considered personal property rather than real property. This is because real property is immovable and includes land and anything attached to it. On the other hand, personal property is movable and doesn’t include the land.
This makes it difficult to finance these manufactured homes. The rates of interest for personal property loans are higher, while the loan terms are shorter.
There are also limited financial options available if you’re considering a loan. When it comes to providing loans for mobile homes, lenders are a bit more hesitant.
Conclusion
Double-wide mobile homes come with their share of advantages and disadvantages. They are affordable, spacious, flexible, and highly customizable. But their value also depreciates over time, including land lease costs, and they also have some financial challenges.
As a prospective homeowner, it’s important that you carefully weigh the pros and cons before making a final housing decision. You can carefully consider the factors involved and purchase your dream double wide mobile home.
