The mobile home industry is one of the fastest growing industries in the country, and that popularity is only increasing. ” Used mobile homes” is one of those terms thrown around out there, but what is the real meaning behind it? There is no concrete definition as to what “used” really means. In this article I will try and shed some light on this matter.
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First of all, what is a “mobile home”? In general, a mobile home is defined as any residential dwelling, other than a manufactured dwelling, which can be permanently attached to the ground and designed to be so self-supporting that maintenance is not required. The term mobile is usually reserved for these dwellings that are designed and built as motorized vehicles. Most of the time this means that they are built on wheels. However, mobile homes can also be built as a prefabricated building.
What I am getting at is that the term “used” could mean any number of things. It is usually a descriptive term that most people use when they are just beginning to research or are just beginning to have an idea of what type of mobile homes are available in the market. But it could just as easily be used in describing a category of home that has been previously owned by another.
There is no shortage of used mobile homes in the market, and they are just waiting for buyers. The problem arises when an individual decides that he or she would like to purchase mobile homes in order to live in them full time. In many cases, this is a very good decision, as mobile homes require very little maintenance and are very easy to insure and maintain. If an individual purchases used mobile homes that were previously owned by another, they are going to need to obtain their own insurance policy in order to insure the structure against potential damage or loss.
Once an individual purchases a mobile home from a private party, they will then need to purchase a mobile home homeowner’s insurance. This is the same insurance policy that they would have purchased if they purchased the mobile home from a dealer or another licensed seller. Some of the additional items that an individual can expect to find in this type of insurance policy may include personal liability coverage, or even property damage coverage, which will cover the rebuilding costs of the home in the event it is damaged beyond repair. It is very important that an individual understand what is covered under the specific policy that they purchase, as a small error in the information provided can result in the purchase being canceled out.
In closing, I would like to mention a few advantages that come along with purchasing mobile homes on the resale market. First of all, it is much easier to sell mobile homes, and in my experience, it is far more expedient as well. Another advantage is that someone who is selling their mobile home will not need to obtain new paperwork or have it approved by the bank. Lastly, most people that are selling their mobile home do not need to worry about storage fees or having a hook up for the power and water. These savings can add up quickly, so it is wise to comparison shop around for the best price when looking to sell mobile homes on the resale market. I hope you will be able to find the best solution for your needs!
Rachael Villam is a certified crypto zealot, finance writer, and a steady swing trader. She is passionate about blockchain’s capacity to transform cities, commerce, and the entire banking system as we know it. Dune bashing, camping, and working with kids are his non-crypto interests.