If you are in the market to purchase a manufactured home (aka. mobile home), and you have never purchased this type of home before, then you should take heed of these tips before making the plunge:
- NEVER purchase a manufactured home "sight unseen", no matter how good the deal is. I have personally witnessed countless occasions where a client has purchased one of these homes without having a chance to physically visit and inspect it, and boy what a nightmare it becomes when they do get a chance to go inside. I've seen bug infested homes, homes with holes in the roof large enough to stick your head through, and even homes infiltrated with mold and mildew. Photoshop can work wonders with photos of the home before showing up online, never trust only a photo.
- ALWAYS request a FULL HOME inspection AND a 4 Point Inspection, not just one. To secure insurance, we only require a 4 Point Inspection of the home, which documents the current operating condition of the A/C, Roof, Exposed Plumbing systems, and exposed electrical systems. A full home inspection takes this to the next level, and virtually inspects every inch of the home. The cost of a 4 point inspection is only around $125, while a full home inspection can be well over $250; however, you get what you pay for; 4 Point Inspections come with no warranties or guarantees and it leaves much of the home "un-inspected". Make sure to request both types of inspection so there are no lurking problems. If you are unsure who to call for an inspection, ask us for a referral today. We work with several local independent inspection companies who are very well trained in inspecting mobile homes, and will give you an honest opinion about the homes condition before you sign the dotted line.
- SHOP AROUND! Manufactured homes are very unique, you may own the home AND the land it sits on, or you may simply own the home only and pay rent for the land it sits on. This means the price for one home in one community may be a fraction of the cost of a similar home in another community, but it may require an $800 per month rent for the time you own the home. Make sure you are prepared to factor this cost into your budget, in many cases after doing the math it’s best to try and find an affordable home that includes the land ownership as well.
- GET INSURANCE! Despite what many insurance agencies in our area say, insurance IS available for manufactured homes. Whether the home was built in 1965 or in 2020, coverage is available. Additionally, do not wait to purchase insurance. Many carriers will apply an additional 10% surcharge if insurance is not secured within 45 days pf purchase, and some will mandate a waiting period for coverage to start. Don’t spend more money than you have to, and don’t get stuck without insurance when a storm is approaching; secure your coverage as soon as possible.
If you are thinking about purchasing or already own a manufactured home, give our office a call today at 941-244-2760 or visit us online at www.evolveins.com and ask for a quote. Our agency was established by insuring the Southwest Florida mobile home community, so needless to say we know what it takes to get your home insured smoothly and affordably.
Your local hometown agent,
Principal Agent, Evolve Insurance Agency