Common Myths About Mobile Homes
Updated: Feb 25, 2022
Mobile homes are often stigmatized for their affordability and ability to keep many Americans happy, safe, secure, protected, and comfortable. Common myths about mobile homes that might not be true.
This article will help dispel some common myths about factory-built houses and other false facts that we tend to believe to be true. The idea for this article was born out of a conversation with a few investors at a recent meeting of the real estate investing club.
We discovered that mobile homes were a subject of negative stigmatization and were viewed negatively in grade school. As a result, your mobile home outlook is likely to have been distorted over the years, just like many other misguided lessons that we were taught at school or learned through osmosis.
You may have a negative outlook that you are holding on to, which could cost you potential profits if you don’t allow yourself to invest in this affordable real estate niche.
Mobile Homeowners Schools are needy or low-income.
When I was young, I was struck by the unkind words and negative stigma that the children of the mobile home park faced. As a child, I didn’t know much about these mobile home children, their parents, or their lives. But, we knew that there was something different, and it was bothersome.
Over the years of investing in a mobile home, I have witnessed adult investors hold onto their childhood roots and assume that all mobile homeowners and homeowners are worthless, less cultured, and poor. This is often true for mobile homeowners, but it can also be true for single-family homeowners (and investors).
Mobile Homes are not worth much.
Supply and demand determine value. A buyer’s willingness to pay a specific price for a mobile home in a particular location at a given time is the ultimate measure of its value.
You can go into detail about each of these bullets, and this is no exception. Mobile homes are sold every day. Sometimes motivated buyers and sellers buy and sell them, but owners and buyers will pay top dollar for their property regardless of any external factors.
Soon, mobile homes will be destroyed or blown away.
Mobile home investing is frowned upon by many people. As a result, many investors are afraid to take the first step in owning a “movable” investment. Because of my ignorance, a novice mobile home investor can only learn from the experience of an experienced dealer or mobile home investor and be confident that their investment is safe if it is appropriately purchased.
Over the past 40 years, factory-built housing has seen a dramatic change. As a result, the entire neighborhood will be affected if a tornado or hurricane strikes a mix of factory-built and site-built homes. Although insurance can help reduce most concerns, the simple truth is that mobile homes are more than adequate shelters against most natural phenomena when they are properly maintained and secured to the foundation.
I am not near any mobile homes.
Mobile homes can be found in all 50 states and almost every city except Hawaii and Washington. About 8% of all houses we drive by each day are factory-built.
These manufactured homes are usually attached to the homeowner’s land and not in the mobile home parks we first consider. These landowners chose to keep their homes comfortable and reduce the cost per square footage compared to similar-sized site-built homes. Common myths about mobile homes are not relevant for today’s market.