We’ve looked at a lot of reasons mobile homes are making a well-deserved comeback. Indeed, we may witness the underdog become the superhero in more than just our own floundering economy.
For some, mobile homes have become the answer to affordable living. But they are also the solution for those who are starting a business, and need to reduce personal overhead in order to put more into their dream. Or the person who wants to travel. Or the person who simply shirks stigma and realizes a mobile home is still a HOME, it is what you make of it and it is the right choice for their family, for any number of reasons!
But, if you need an argument to bolster your belief, here are a few typical misconceptions and their counter-arguments.
Misconception #1: Mobile homes are not real estate investments, they are merely personal property.
Ah, you’re dating yourself, dearie. Prior to 1976, a mobile home could not be considered “real” property. Now mobile homes can easily be converted into “real” property when tied in to a land parcel. The process is uniform and can be outlined in detail under the Uniform Manufactured Housing Act.
Spoiler alert to the rest of the counter-points we make here; mobile homes are affordable housing with almost limitless potential.
Misconception #2: You have to be a snake charmer to deal with mobile-home dealers.
This can be true, but–tell me, in what industry is it not? Realtors are known to be driven by the sale and the huge commission and so are mobile home dealers. However, you can walk onto a mobile home lot and purchase a home with a $1000 monthly payment, whereas the same type of deal could take months with a non-mobile home.
Misconception #3: Mobile home values will only depreciate.
Have you heard that mobile homes are just higher dollar car payments? They only lose value…
Research shows that the majority of mobile homes gained in value, they did not depreciate. Revisiting the concept of affordable housing, what other living situation is as affordable and gives you something to show? Renting certainly will not.
If mobile homes only depreciate in value, why are so many investors scrambling to buy them up. Here are some facts to throw at the naysayers. A whopping 20% of Americans make less than $20,000 annually. And millions of baby boomers are facing a retirement income of about $1,400 monthly.
Investors aren’t in a hurry to lose money.
Misconception #4: You Won’t Recoup Your Money from an Upgrade.
This is a very broad statement and is absolutely not true in many circumstances. Not only have we seen that statistically, mobile homes are appreciating, your upgrades improve your quality of living and small, inexpensive fixes can dramatically affect the desirability of a property to the buyer whose dream is simply home ownership.
Sure, paying for upgrades rather than doing them yourself can mean you will pay higher cost, but that is true in almost any service you pay for. There is the material, there is the supplier, the contractor and the middle-man. With so many people involved in the process, everyone wants a piece of the pie. If you can do the improvements yourself, you should save substantially.
Final Misconception: The only reason to buy a mobile home is for the land beneath it.
If you are a home buyer, in the market for your “forever home” and you are considering a mobile home as opposed to a typical house, you simply may not be concerned with appreciation ratios on your investments. In fact, your home may be the furthest thing from an investment and may be far more importantly, something that you OWN that is YOURS. You don’t answer to a landlord. You aren’t ever worried they may sell and leave you homeless. You know what you can afford and you are doing something financially savvy, practical and reasonable.
In conclusion, there are a plethora of sound reasons for not tying a 30 year albatross of a mortgage payment around your neck. Embrace what you can afford and make it your own. The American dream was built upon basics and practicality and you are perpetuating the very concept our nation was conceived upon offering to her people.
MobileHomeLiving.org, “Editorial: The Only Reason to Buy a Mobile Home,” Crystal Adkins, May 28, 2019