Buying A Manufactured Home - Small Price Doesn't Always Mean Easy

/
picture of a manufactured home with graphic overlay Buying A Manufactured Home

Just because the price is small, doesn’t mean that amount of work and time is small. 

Recently, I helped my clients relocate from California (see My Recent Activity below). They had a limited budget but wanted to feel safe and secure with their housing costs into retirement. 

My buyers were buying sight unseen, which is one of my worst fears! I want to make sure buyers love their home, and without seeing it in person, you just never know. After researching areas they were interested in and looking for availability, we narrowed it down to a few properties. We did video calls and luckily, their son-in-law was able to meet me at the one they ended up buying, phew! The home needed a lot of maintenance, so we needed to do an inspection.  In the end, we closed this purchase but it wasn't without hiccups. 

Things you need to keep in mind when buying a manufactured home:

  • Did you know that when buying a senior manufactured home in a park, there is a lease for the land? You have to fill out a rental application and qualify for the land rent to be considered for the purchase of the home.

  • Every park will have its own set of rules. In most cases, you will need to have an income of at least 3x your land rent. Some parks allow pets, motorhome parking, gardening, and fenced-in yards, while others might be a bit more strict.

  • There are limited escrow companies that know how to transfer ownership of manufactured homes. They are transferred more like a car or motorhome.

  • Lending is also a bit more challenging. The longest you can get a loan for is 20 years and rates are higher than traditional purchases.

Other things you need to know:

  • Is the home on leased land? Who owns the park? Is it an individual or a corporation? Do they plan on selling the park anytime soon? Will they be raising the land rent dramatically?

  • Can I have a pet?

  • Can I have a roommate?

  • How old do I have to be?

  • Can children live with me?

  • How do I maintain a manufactured home? Who pays for maintenance?

  • Can I get a loan on this property?

The benefits of buying a Manufactured Home in a Park:

  • Affordability

  • Maintenance

  • Smaller yards to maintain

  • Living among your peers

  • Community activities

  • Personal privacy in your home

At a certain age, many people (I have a lot of clients that have bought manufactured homes in parks) want to downscale from a family home to a smaller footprint. These communities are a wonderful solution and there are many communities to pick from in the Puget Sound area.

As you can see, there are a lot of questions about buying a manufactured home on leased land. You need an agent who knows the questions to ask. As mentioned above, I’ve helped many clients buy and sell manufactured homes, please contact me if you have questions about the process or where to begin looking.

/ / Comment

Saviya Robinson

Saviya Robinson is a top-producing broker specializing in lifecycle moves, international relocations, and unique property acquisitions.

An international traveler, Saviya has spent extensive time abroad, including living in Amsterdam. In 2010, she moved back to the states with a focus on advocacy and education for international clients. Committed to this purpose, Saviya earned her Certified International Property Specialist (CIPS) accreditation and uses this today in her work.

Originally from Zillah, Washington, Saviya made the move to Seattle in 2000 and became a fulltime REALTOR in 2007. Since then, Saviya has represented hundreds of buyers and sellers in real estate transactions throughout King, Pierce and Snohomish Counties.

When not practicing real estate, you can find Saviya spending time with her family, planning her next travel adventure, or catching up on her favorite streaming series.