3 Things To Consider Before Buying a Mobile Home
Written by
Stacy Sare Cohen
Edited by
Amber Barkley
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The average sale price for a new mobile home — also called a manufactured home — is $125,200, according to September 2024 data from the U.S. Census Bureau. Prices vary by the type of home: For example, a single-wide mobile home averages $87,400, while a double-wide has a median cost of $153,100.
Compared to the $402,000 median sales price in January 2025 for single-family homes, condominiums and co-ops, according to the National Association of Realtors, a mobile home purchase can be an affordable way to invest in homeownership. But before you sign the paperwork, consider these key factors when buying a mobile home.
Will You Buy a New or Used Mobile Home?
New mobile homes are often turnkey and come with new appliances, contemporary designs, energy-efficient features and manufacturer warranties.
Although used mobile homes cost less than new ones, they are usually sold “as is” and require home improvements such as upgrades, maintenance and repairs. When purchasing a used mobile home, make sure to have a home inspection done. A couple hundred dollars for an inspection can save you thousands, if the home needs electrical and plumbing updates.
The Location of Your Mobile Home
Mobile homeowners have two options for the location of their mobile homes. Each has its benefits and drawbacks and can affect the cost of what you’ll pay for the home.
Land You Own
You can keep a manufactured home on land you own, but you’ll need to check with your municipality about zoning laws, as some cities don’t allow mobile homes on existing properties. When they do, the city will likely require you to get a permit and comply with certain specifications, such as the size of the home. You will also need to connect the utilities to the home.
Mobile Home Park Communities
You can deliver your new mobile home to a mobile home park with an empty lot to rent or buy a home already on the property. The park community charges a monthly lot rent to keep your home on their property. The upside is the community may include maintenance and amenities, such as a swimming pool and clubhouse with activities.
In some cases, you can purchase a home in a land-owned mobile home park, meaning you own the land. Manufactured home prices in these parks usually cost more, since you buy the land. Instead of a lot rent, owners pay a homeowners association fee that typically costs less than a lot fee.
How You Plan To Finance the Home
Getting lender approval to finance a home loan for your mobile home can be tricky. Financing a manufactured home is different from a conventional mortgage. Many lenders will not finance a single-wide mobile home or a home built before 1976, when the U.S. Department of Housing and Urban Development updated the housing construction and safety standards.
However, lenders are more flexible with financing homes permanently affixed to a foundation or located on leased land, which is considered real property rather than personal property.
The following types of mobile home financing options are available:
- Chattel loan: This is a popular option for manufactured homes on leased land.
- Personal loans: These are available from banks and credit unions for buyers with good credit histories.
- VA and FHA loans: These loans require the home to meet specific criteria.
- Conventional loans/mortgages: They are only available for manufactured homes permanently affixed to land.
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