What Is the Cost of New Mobile Homes?
Mobile homes may have become hugely popular in the past few decades but are by no means a new invention. In fact, the first mobile homes have been around since the 1870s and existed in several different designs and structures. Back then, they were a great way for people to have a prebuilt home without worrying about construction time and costs.
Mobile homes also became particularly useful after World War II, when soldiers came home and there was unprecedented growth in housing demand. Thanks to their lower prices, mobile homes were the perfect solution for them. Even today, they are typically much more affordable than a house made from bricks or concrete. The question is, how much do new mobile homes cost? Read on the learn more.
Factors that determine how much a mobile home is worth
Several different manufacturers design mobile homes and sell them to customers. Additionally, each company adds features and elements that make their mobile homes distinctive from others. As is the case with other things, several factors determine the value and pricing of a mobile home.
Before we get into it, here’s a general idea of how much used mobile homes cost. You can expect to find a decent and well-maintained used mobile home for anywhere between $10,000 and $50,000, depending on its condition and features. Although mobile homes are much cheaper compared to traditional brick homes, there aren’t many financing options that buyers can use. That’s why it is crucial for you to know how much mobile homes cost before you make a decision on which one to buy.
Mobile homes vary in pricing due to the following factors:
The first thing that influences the price of a mobile home is the type. There are two main types: single-wide homes and double-wide homes.
The former type is designed to be towed to the housing site as a single unit, while double-wide homes come in two different units that are towed separately and joined together at the site. Occasionally you might also find triple-wide mobile homes, which are built as three separate units. Then, there are ones with four or five units. Generally, single-wide homes are less expensive as compared to double-wide homes.
The size of the mobile homes you can find has a major influence on their price. The largest single-wide homes can be as big as 88 ft. in length and 18 ft. wide. On the other hand, you can generally find double-wide mobile homes sized as large as 88 ft. in length and 20 ft. in width. Most manufacturers stick to these dimensions, and the larger the mobile homes, the more expensive it will be.
Different manufacturers design and develop mobile homes with different layouts based on their research about the customers’ needs and requirements. The layout also varies according to the size of the mobile home. For instance, a single-wide home that offers a living space of 600 to 1,300 sq. ft. gives you enough room for two bedrooms, one bathroom, a living room, and a dine-in kitchen. You will have to pay more for a mobile home that comes with an extra toilet.
On the other hand, double-wide homes with up to 2,000 sq. ft. of living space will have up to three bedrooms and two or three bathrooms. Additionally, these homes might have some or all of these features: a kitchen, living room, separate dining room, and laundry room. Therefore, double-wide homes are considerably more expensive than single-wides.
The price of a mobile home also greatly depends on the amenities that it contains. Most manufacturers offer customers the opportunity to choose which extras they want, such as laundry facilities, heating and cooling, refrigeration, additional lighting, and several others. The more amenities and add-ons you want in your mobile home, the higher the cost will be.
Apart from amenities and add-ons, you might also have to pay extra to customize your mobile home. For instance, you can pay extra for more cabinets, additional plumbing, a new deck, extra room, a fireplace, a patio, audiovisual features, etc. You can also pay extra for a garage or storage room, but make sure that it fits your budget before you decide on this customization.
When buying a mobile home, make sure to also factor in the delivery costs associated with it. Unlike a traditional home, there is a certain cost associated with transporting the pre-built mobile home to the site or location where it has to be placed. Most manufacturers or delivery companies offer free delivery up to a certain radius, but if your site is further away, you will have to pay to get it transported.
Like a newly-built standard home, you will also have to get your mobile home connected with the basic utilities such as water, power, sewage, internet, and cable. Without these, you won’t be able to live in your home. When buying a mobile home, the cost of utilities is also included in the overall cost you will have to pay for your home. Since the cost of utilities varies from location to location, the overall cost of your new mobile home will differ accordingly.
Moreover, if you are looking to set up your new mobile home in a mobile home park or community, the costs are much lower since it’s easier to get your utilities connected at a more affordable cost. If you are planning to set up the utilities on your own it might cost less, but might require more time and effort to do so.
Cost of land
Another important factor that influences the cost of a new mobile home is the cost of the land on which it will be installed. Mobile homes are built inside a factory and are towed to the site in one or more units, depending on which type you opt for. Unless you already own a piece of land and have sufficient permissions to install your mobile home there, you will have to factor in the cost of land, which varies from state to state. People who can’t afford to buy land for a mobile home in a particular state can also choose to rent space in a lot. Whichever option you choose, you will have to factor the land cost into the cost of your new mobile home.
What is the average price for a new mobile home?
When you buy a new mobile home, you might assume they are much cheaper than traditional homes. While this holds true for the most part, you need to consider the complete cost of getting a new mobile home, which involves all of the factors we have discussed in the previous section.
Getting an average cost of buying a new mobile home is helpful as it allows you to determine your budget and ascertain whether a mobile home is the right choice. According to the Manufactured Housing Survey by the U.S. Census Bureau, the nationwide average cost for a mobile home in 2020 was around $55,600 for a single-wide unit and $107,500 for a double-wide unit.
Generally, the average cost of new mobile homes is considerably lower in the South (for instance, between $42,900 and $79,220 in South Carolina for a single-wide unit). The lowest price was $54,000 in the Northeast region for a single-wide unit, and the highest was $92,800 for a double-wide home in the Midwest. Apart from the cost of buying and setting up a mobile home, most people also rent space in various developments, communities, or rural areas. The rent ranges between $100 and $1,000, depending on the location and the available amenities.
Moving a mobile home: How much does it cost?
There is also a significant cost associated with the delivery of your mobile home. When it comes to a new mobile home, the delivery professionals use a specially designed truck that can hold the mobile home securely. As you know, double-wide homes or higher are split into multiple parts before they are loaded and moved to the destination.
Usually, the mobile home is fixed onto a metal chassis, which stays in place even after the home is installed. The delivery team will use axles and lifters to load your home onto their chassis, which has wheels and axles to support the structure properly. Once they have locked the home in place, they can begin moving it.
When it comes to moving your mobile home, there are two different categories: transport-only or full-service. In the former, the delivery people will attach your home to a towing vehicle and transport it. On the other hand, a full-service move requires taking apart any utilities or removable parts of the house before it is transported.
In a transport-only job, you can expect to pay anywhere between $700 and $3,500 for a short distance. You might have to pay around $3,000 to $14,000 for a full-service move. The cost varies according to the distance between your location and the site from where the mobile home will be picked up. Interstate transport can be even costlier, which is why buying a mobile home from vendors closer to your location is wiser so that you don’t have to pay too much to get it transported.
Things to consider before buying a new mobile home
By now, you should have a clear idea of the factors and costs associated with purchasing a new mobile home as well as delivery costs, monthly rent for space, and other variables. If you have made the decision to buy a mobile home, here are some things to consider.
- The buying process is different from a traditional house. If you have never bought a mobile home before, keep in mind that the buying process is quite different, as well as their type of ownership. Since a mobile home isn’t “built” on a particular piece of land and can be moved at any time, it is more of personal property than real estate. Therefore, its ownership paperwork is similar to that of a car. That is, you’ll receive a title rather than a deed of ownership.
- You don’t get conventional mortgages for a mobile home. Since a mobile home is considered personal property, the traditional home mortgage doesn’t apply. Therefore, it will be more challenging for you to get a home loan for your mobile home. However, certain types of loans are specially designed for buying mobile homes. Some lenders in this regard include Freddie Mac, Fannie Mae, the Federal Housing Administration (FHA), and other government agencies.
- The value of mobile homes depreciates. Unlike the notion that real estate continues to appreciate in value over a certain period, mobile homes see their value decrease with time. Therefore, you can see the prices of used mobile homes are much lower as compared to newer ones.
- Mobile home maintenance doesn’t cost a lot. Contrary to what you might think, maintaining your mobile home isn’t too expensive, and it costs around the same as your traditional home. You can easily find a technician or maintenance expert who will keep your home in top shape.
Ready for your mobile home?
We hope this guide on the cost of new mobile homes will help you determine whether buying a new mobile home is the right choice for you or not. Make sure to consider all the factors before you finalize a mobile home purchase.
There are various kinds of mobile homes that you can find out there, and they are a suitable and affordable housing option. Once you find a mobile home and are ready to move, check out our moving checklists, moving tips, and packing guides to make the process easier.