Texas is, undeniably, a popular place to own mobile homes. In recent years, Texas has observed a major rise in the number of mobile homes.
As interest rates for real estate investments across the state are rising, potential site-built homebuyers are nowadays facing higher amounts of mortgage payments along with increases in rates across various aspects of the home-buying process in the state. These factors have elevated the market for mobile homes in Texas. Manufacturers of mobile homes in the state continue having a heavy backlog of multiple orders to work upon. Moreover, there is no indication of any decline taking place in the pace of mobile home construction.
Rising Trend of Mobile Home Parks in Texas
Texas is known to boast the presence of around 5176 mobile home parks throughout the state -the largest number in the entire nation. The state always features a rapidly-growing population and growth influx. Due to this, there is always the presence of demand vs. supply pressure for raw housing premises. Therefore, housing prices are always on the rise. In such a scenario, buying mobile homes is a lucrative option for most prospective homebuyers who are looking for something affordable and functional at the same time.
Additionally, Texas also features the best protective laws for mobile park owners in the United States. The recently-released laws depict that park owners have the right to make use of the vacant spaces in the form of a mobile home park.
How to Find the Right Mobile Home for You in Texas?
Is living in a mobile home on your list? You need to conduct some research before buying a mobile home in Texas. Right from talking to people who already own manufactured homes to thinking about your budget, whether or not it is compatible with your lifestyle, and so more -there are several factors to consider.
In Texas, since the time of 1976, the Department of Housing & Urban Development has been responsible for the regulation of factory-built or mobile homes in the state. Homes that are constructed with the specific code and regulations in the state are referred to as ‘manufactured homes.’
If you dream of living in a cozy, comfortable mobile home in Texas, here are some important points to keep in mind:
#Search for a Reliable Mobile Home Consultant
Are you new to the concept of buying a mobile home in Texas? The chances are you are unaware of the rules, regulations, processes, and so more while buying a manufactured home in the state. Worry not! A reliable mobile home consultant in Texas can help you out. Consultants in the state usually have an understanding that it is difficult for individuals to secure a proper home loan -especially for those having poor credit score or lower income. A reliable consultant can help not only in finding the right mobile in Texas, but also in coming up with lucrative financing programs at minimal rates of interest with easy terms of repayments.
A consultant works by initially assessing the lifestyle, budget, and housing needs of the potential buyers. To fit the exact criteria, the consulting team will generate a list of mobile or manufactured homes. Upon selecting the desired mobile home, the team of consultants will help you come across the right financing program for specific income levels and credit history.
#Availability of Land or Installation in a Community Park
It is imperative for you to check the zoning regulations of the state wherein you would like to install your manufactured home. It is because there are several areas featuring limitations on the placement of these homes. Still, over the past few years, there has been a realization that manufactured homes are no different from site-built homes. Therefore, various community parks have been set up for their installation.
According to the TDHCA or Texas Department of Housing and Community Affairs, all mobile homes should receive prior approval. To apply for specific rights for installing a manufactured home, you should consult the TDHCA in the city you look forward to moving to.
#Size of the Home
Typically, there are three size options with a mobile home -single-wide, double-wide, and triple-wide. Single-wide mobile homes usually run at around 15 feet in width. At the same time, double-wide mobile homes are around 25 feet in width and can go up to 45 feet in width. These types of manufactured homes only refer to the overall width -not usually the floor plan.
It is always preferable to purchase a mobile home that is larger due to the overall price it is worth. In most cases, it is difficult to adjust properly in a small-sized manufactured home.
#Your Budget
While buying a mobile home in Texas, it is important to go through your budget and financing options. Potential buyers usually do not need to depend on niche lenders. Approved buyers can think of getting a mortgage under loan programs like VA, HUD, FHA, and so more. There are several conventional options available as well.
There is also the availability of niche loans for individuals having poor credit scores or incomes.
Mobile Home Inspection, Offer, and Closing
For new investors, it is imperative to conduct proper home inspections before moving in. Moreover, it is also important to pay attention to offer and closing aspects of the deal. During home inspection, you should look into important aspects of the manufactured home -including signs of water damage, floors & foundation, air conditioning units, electrical units, and so more.
Best Place to Buy Mobile Homes in Texas
If you are in search of the best affordable mobile homes in Texas, Manufactured Housing Consultants can help. We have a comprehensive list of the most sought-after manufactured homes all around Texas for you to buy and move in. We offer information about the best manufactured homes to buy in different areas of the state. If you are ready for a hassle-free buying process, you should contact our team of expert consultants.
