Buying Mobile Real Estate in Texas

The state of Texas has plenty of single family homes, condos and townhouses for sale. One thing that stands out in the middle of all these is manufactured home or mobile home. If you are planning to downsize and are on a tight budget, this option is suitable for you. Manufactured housing in some parts of Texas is very affordable for both buying and selling mainly because the land is much cheaper and abundant than many west coast states. Following tips will be useful on your hunt for mobile homes. Just make sure that this is what you want.

Mobile homes in most part of Texas are factory built either partially or fully. There are widespread options about pricing, warranties and financing with these homes. All manufactured homes here must comply with minimum quality standards by the US HUD, so make sure to remember these criteria. When comparing homes in a mobile community, and if it’s a new builder, know where the home will be installed. The more years you sign up for the lease, the better deal in financing you will receive.

And, don’t forget to check out dealer’s and manufacturer’s credentials. Warranties are worthless if manufacturer won’t honor it. You can find this information through past reviews and from BBB website. An irresponsible dealer can sell you a great-looking home but may cause damage to the foundation by improper installation or sell poor quality appliance. Check out websites to find out if there are any complaints filed against them. Last but not least, you may want to check courthouse records for any lawsuits present. It’s just a start.

All mobile homes should be purchased along with relevant warranties like the one from Magnolia Realty in San Antonio. Make sure what other warranties come with the standard one. Find out what is included or excluded in the warranties. Additionally, you may want to ask whether the warranty values reduce after a certain period of time, because in most cases it does. Many dealers like to give a quote for a bundled package. This may include not just the home but appliances, transportation and installation as well. Most buyers never realize that not detaching this package may cause trouble later. They may be paying the price for the lifetime of the house. Hence, it is better to gather information piece by piece and learn how much each element costs.

Finally, there are many ways to finance your mobile home in Texas. Lenders have different ways to assess the property value, and most mobile homes are a lot less worth than the loan obtained. This is one of the reasons why mobile home lenders charge a very high interest rate. The best way to approach this scenario is to negotiate with the lender or buy a land and install the home later. The land given as collateral can significantly lower your interest rate. Again, there are many possible ways to finance your new home. Ask what options are available for your situation.