Doublewide mobile homes are emerging as attractive choices for homebuyers. Analysts may not have predicted this during a booming economical era. However, new doublewide mobile homes are built for comfort and convenience, which is making them hot properties for the real estate market. They feature open floor plans, walk-in closets, family sized kitchens and bathrooms. So many people who are
. looking for starter homes, empty-nester models and custom home are turning to mobile homes as opposed to site-built homes.Anyone who is in the market for a doublewide mobile home may wonder if such an investment is good or bad. Other concerns are: whether or not the mobile home starts losing value right after purchase; and if other mobile homes in the area and the neighborhood itself play a role in the mobile home's resale value.Doublewide mobile homes are also called manufactured homes. When they are not parked on land, they are personal property, just like cars. They come with certificates of title. Owners pay sales tax and registration on them just like on cars. When mobile homes are affixed to real estate as a residence, they are considered a part of the real estate. In addition to a certificate of title, an affidavit of affixture is required, filed with the appropriate state agency.Whether mobile homes are used in land-home situations or not affixed to land, they depreciate. As they approach ten years old and older, financing and resale options decrease, more so if located in a rundown neighborhood. FHA may provide financing for new buyers; down payments of about 3.5 percent are necessary. In some cases, banks may offer financing with down payments of 20 percent of the mobile home purchase price.It is important to ensure that the mobile home is certified to meet state and local building codes as well as specifications issued by the Building Officials and Code Administrators (BOCA) organization. Online directories and dealer listings of mobile home floor plans are available to suit most any need and budget.
