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If you’re considering downsizing your home, or just exploring alternative living situations, a mobile home might be a good option for you.
But a mobile home isn’t exactly like other types of houses. While the cost might be significantly less than a traditional home, you could have some other expenses to consider. Here’s what you need to know about mobile home costs.
What’s Considered a Mobile Home?
In many cases, mobile homes are manufactured homes. These are homes that are constructed in a factory and transported to their location after being built. This is different from traditional home construction—or a site built home—which is when a home is built on the site it will stay for the duration of its lifetime.
It’s important to note that the government changed the term “mobile” to “manufactured” homes through the National Manufactured Housing Construction and Safety Standards Act, so mobile homes built after 1976 are considered “manufactured” homes. However, while you might see the terms “mobile home” and “manufactured home” used interchangeably, not all manufactured homes are mobile homes.
In some cases, homes are considered “mobile” when they’re trailer homes. These depreciate in value similar to cars and other vehicles. Even though they’re built according to the standards set by the Department of Housing and Urban Development (HUD), they’re not usually considered “real” property and are instead regulated more like cars. If a trailer home has wheels, they’ll need to be removed if the home needs to be installed. They’ll also require what are called “tie-downs” to anchor the home to the ground.
How Much Does a Mobile Home Cost?
How much you pay for a mobile home depends on the type of home you buy, its condition and where you buy it.
- Single-wide: A single-wide home usually ranges up to 18 feet wide and 90 feet long. New units average around $51,000. Used units go for anywhere between $10,000 and $25,000.
- Double-wide: A double-wide home is meant to be “double” the size of a single-wide home, but they actually vary widely in size. Some can get as big as 36 feet wide by 90 feet long. The most common sizes range from 1,300 to 1,800 square feet. Average prices for this size are about $107,000.
- Triple-wide: These homes have a maximum of 3,000 square feet. The average cost of a new mobile home of this size ranges up to $250,000.
Factors That Affect the Cost of a Mobile Home
There are a few different …….