Should I buy a Manufactured Home?

Manufactured Homes for Sale in Tri Cities


If you are thinking about buying a manufactured home in Tri Cities, there are a few things you will need to consider before you make your purchase.


#1. Are manufactured Homes as good as stick built homes?

If you are looking at Manufactured Homes for Sale in Tri Cities, you will see that most of the manufactured homes that are on land are in Finley or Benton City. Therefore, its not so much of a question of the quality of the home as much as it is of the location of the home and the type of lifestyle you want. For Example, if you want horses and you are looking for a property that has barns and allows you to build a large shop then buying a manufactured home is a great option for you. However, if you are ok with a small yard and you would rather have most of your budget spent on the home and less of your budget spent on the land than you should go with a stick built home. Most of the popular subdivisions in the  Tri Cities have HOA and restrictions against manufactured homes.  If you choose to live in Horn Rapids or Hanson Park you will not have chickens or horses.  The main point of buying a manufactured home has always been to move out into the country and own land that is hooked up to its own well and septic.  If that is not your plan then I would just buy a stick built home hooked up to city water and city sewer. There is no doubt about it that the quality of a home built by a local builder can far exceed the quality of a manufactured home.  Manufactured homes are designed to allow buyers to make economical and easy purchases to develop land quickly.  If you are interested in Luxury Real Estate in Tri Cities you will not be looking at manufactured homes. 



#2. Do Manufactured Homes Hold their Value?

As long as the manufactured home is on its own land and the title has been eliminated then the manufactured home will gain value the same way a traditional stick built home will appreciate value as the Real Estate Market in the surrounding community goes through market appreciation.  Keep in mind that not all manufactured homes are attached to real property. So its important that you make sure the manufacture home that your interested in is attached to Real Property.


#3. Is it hard to get a Home Mortgage for a Manufacture Home?

This question will have a lot of variables. Every lender has their own rules on providing home loans on Manufactured Homes. One lender may say they require 20% down on a manufactured home while another lender may say they require 3.5% down.  The one thing that all lenders will require is that the home was built after 1978 and that it is tied down to real property. When Realtors ask people if a property has been “tied down” to Real Property we want to know if the manufactured home has been placed on a foundation and that the title has been eliminate. To get a title eliminate you will need to contact a company that is certified in attaching manufactured homes to a foundation. They will use cables or “Tie Downs” to secure the home to the foundation. After this has been done a Title Company such as Ticor Title or First American will do a “title elimination” and the manufactured home will now be “Real Property”. A skilled Realtor will have all the right contacts and familiarity to walk you through the process mentioned above or just handle everything for you.

#4. Should I buy a Manufactured Home in a Trailer Park?

The reason people think manufactured homes loose value is from looking at how manufactured homes operate in trailer parks. I would never buy a manufactured home in a Trailer park that requires lot rent. These homes are difficult to mortgage loans on and you do not own the land so you will not get the same market appreciation that you would if you bought a manufactured home on its own land.