A mobile home can be an affordable option for people who wish to own their own homes rather than rent, but can't afford large mortgages. Since the 1970s, mobile homes have been constructed to be more sturdy and with more built-in amenities. It is estimated that about 16 million Americans live in mobile homes.
Although the cost of mobile homes varies widely, these homes can be purchased new for as low as $20,000. A used mobile home can be purchased for as little as $5,000, making them an affordable option for young people looking to purchase a first home, those with little money for a down payment, or those with poor credit.
Fewer Additional Costs
It does not cost as much to maintain a mobile home as it does a traditional home. Many of these homes have been built with low-maintenance costs in mind. Modern manufacturers are building homes with premium levels of insulation, as well as more efficient heating and cooling equipment, offering homeowners substantial savings on their energy costs. Smaller units can be heated or cooled with small, portable units, further reducing heating costs. Additionally, mobile homeowners will find that they do not pay as much in property taxes as those who own traditional homes.
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People who like to travel or those who must move often for their jobs may enjoy the flexibility of owning a mobile home. Although it can be costly to hire a company to move the home, it is still a cheaper option than selling and buying a new house, or potentially breaking a lease on an apartment.
More For Your Money
Today's mobile homes are customizable with amenities such as cathedral ceilings, decks, granite counter tops or Jacuzzi tubs. Many people find they could not afford these luxuries in a traditional home, but can get more upgrades for their money in a trailer park.