Know the Real Price: Hidden Costs of Buying a Mobile Home

There are many hidden costs of buying a mobile home you should consider before purchasing your new house. While mobile homes cost less than traditional houses, don’t let the low purchase price fool you. 

Although it may sound tempting, owning a mobile home can actually come out as much more expensive than you might think. With that in mind, here’s a brief overview of the main expenses you can expect.

How to Determine a Mobile Home’s Real Price

The cost of buying a mobile home depends on the following factors:

• The home’s type
• Customization and additional features
• The price of the land
• The renting cost

The Home’s Type

There are three main types of mobile homes, and they come in a different price ranges: 

• Single-wide homes
• Double-wide homes
• Triple-wide/multi-wide homes

Single-Wide Mobile Homes (500 to 1,200 Square Feet)

Single-wide mobile homes are the most basic and least expensive option. They’re typically around 18 feet wide, 90 feet long, and 9 feet tall. These houses usually have one to two bedrooms and one to two bathrooms.

The average price for a single wide mobile home stands at $51,371.

Double-Wide Mobile Homes (1,000 and 2,300 Square Feet)

Double-wide mobile homes are wider than single-wide homes. They may be up to 8 to 16 feet wide, 42–60 feet long, and 9 feet tall.

Double-wides typically include two to three bedrooms and bathrooms, as well as additional features like separate dining rooms. With a larger size, there is also more opportunity for customization of the interior layout and exterior.

The average cost of a mobile home that’s double-wide is $107,500.

Triple-Wide/Multi-Wide Mobile Homes (4,500 Square Feet and Up)

Triple-wide mobile homes are the biggest option. Their size will depend on the structure’s characteristics, and they usually come with three bedrooms and two bathrooms, sometimes even more.

Single-wide homes have a trailer-like appearance, while double and triple wides look like site-built properties.

Triple-wide/multi-wide mobile homes cost about $250,000.

Customization and Additional Features

When it comes to purchasing a mobile home, there are many customizations and additional features you can choose from. For example, you could add a porch, a deck, cabinets, or a fireplace.

However, the more customizations you add, the higher the cost. On the other hand, cosmetic modifications are less costly than adding square footage, such as an extra room (you’ll pay an average of $57 per square foot). 

The Price of the Land

The mobile home expenses don’t stop at the purchase price. You’ll also need to factor in the cost of the land. 

Although the house itself won’t be affected by the site’s location, preparing the ground for it will add to the overall cost. I.e., the price will be determined by the slope of the land, the number of trees, and soil condition.

The average cost of land in the United States is $12,000 per acre. Typically, farmland is more affordable than land located in city centers.

New Jersey has the highest price per acre, an average of $196,410, while Wyoming has the lowest price, an average of $1,558.

The Renting Cost

Is it worth buying a mobile home if you don’t own the land? Yes, if you can afford to pay the rent. Renting the land on which your mobile home is placed will generally cost you $148.00 per acre.

However, the price will also depend on the location, services, and amenities (if offered). For example, some places might have water and electricity included in the rent price, while others might provide pools, lawn care services, or even trash pickup to their residents.

How Much Does It Cost to Relocate a Mobile Home?

The cost of trailer homes can also increase if you need to relocate them. The amount you end up spending on your move will depend on a few things: whether you opt for a transport-only or full-service transport and the home’s type.

For example, the cost of a transport-only relocation typically falls between $700 and $3,500 (for up to 60 miles), while full-service transport will set you back anything from $3,000 to $14,000.  

Additionally, if you’re looking to use a transport-only service, be ready to spend $700–$1,000 for a single-wide home, $2,000–$2,500 for a double-wide home, and $2,600–$3,500 for a triple-wide home.

On the other hand, if you’re using a full-service transport, which includes transport services, disconnecting and reconnecting the utilities, you’re looking at a cost between $3,000–$5,000 for a single-wide home, $4,000–$10,000 for a double-wide home, and $10,000–$14,000 for a triple-wide home.

Buying a Mobile Home Pros and Cons

Now that we’ve gone over all the hidden costs, it’s time to weigh the pros and cons of mobile home ownership. 

Some advantages include:

• Mobility: One of the main advantages of owning a mobile home is that you can move it whenever you want. If you get tired of your surroundings, you can hitch up your home and drive it to a new location.
• Lower maintenance: The cost to buy a mobile home is generally lower than that of a site-built home, and they require less maintenance. For example, you normally wouldn’t have to worry about plumbing or sewer problems, landscaping, or gas line repairs.
• Affordability: While, technically, you can buy a traditional house with little money (using loans), mobile homes are less expensive. Namely, home prices in the US have risen to an average of $348,079, whereas mobile home prices range from $51,371 for a single-wide to $250,000 for a triple-wide.
• Quick construction: 60 days is the typical time it takes to construct a mobile house from scratch.

Some disadvantages include:

• Depreciation: All homes depreciate over time, but mobile homes lose value more rapidly than traditional houses due to land appreciation. The only exception are modular homes. They will appraise like other homes but cost 30% less.
• Harder to resell: How much is a trailer home going to cost if you decide to resell it? The average cost of a used single-wide home falls between $10,000 and $25,000. So, not only will you get back a fraction of what you paid, but you’ll also need to find a buyer who’s willing to relocate the mobile home from where it currently is. This includes extra costs, so many people avoid buying used mobile houses.
• Financing: Mobile homes are classified as personal property rather than real estate, i.e., acquiring funding for them might be more challenging.

How Long Can a Mobile Home Last?

The average lifespan of a mobile home is about 30 to 55 years. Of course, this number depends on how well you take care of the property and if you regularly conduct necessary maintenance tasks. 

To extend the life of a mobile home, you must relevel it every few years. The average cost of releveling is $450 for a single-wide home and $1,000 for a double-wide home. You can also upgrade your roof and install skirting under your house.

Conclusion

To know the true cost of manufactured homes, be sure to factor in all the hidden expenses we discussed, such as land, rent, and transport.

After weighing the pros and cons, if you’re still on the fence, consider renting a mobile home first to see if it’s a good fit.