For many, the appeal of living in a trailer or static caravan is that trailer homes are considered to be the most affordable alternative to regular homes. They are usually set up on private land or in the parks. You can either rent it or buy a new or used trailer home based on your requirements.
Buying Trailer Homes
Below steps should be followed while buying.
Homework:
Perform thorough research before you commit to buy new. You can visit different dealers and manufacturers and make a list of price, size and features.
Visiting the Dealers:
While visiting the dealer, don’t forget to take the above mentioned list with you. Make sure that the dealer you have chosen has good reputation and clear track record. When deciding a deal one should make sure that the prices and features matches with the ones found during homework.
Inspection:
Do inspect the home you are going to buy thoroughly. Make sure there is no leakage in the home. Also check thoroughly that it is well equipped with basic amenities of life such as central heating system, air conditioning system and good quality flooring. Find out how many bedrooms and baths are there and if they meet your requirements.
It is always a good idea to hire a home inspector to check for any type of leakage, heating or cooling problems, plumbing, wiring or electricity problems.
Saving Money:
You can save money by buying unfurnished and then furnishing it later according to your requirements. It is also a good option to buy a bare bone trailer home and add required features into it later on.
Financing:
Ask your dealer about the financing. In many states they are considered to be a public property which many times makes financing difficult as compared to traditional houses.
There are many options available for financing. One of the most common methods of trailer home financing is ‘Retail Installment Contract’. You can get this contract from a nearby retailer.
Legal:
It is always a better idea to consult a lawyer before buying your trailer home. It will help you avoid many legal complications regarding area laws, taxes etc. Make all dealings written. Get proper receipt of all payments you have made. Also make sure that relevant tax, insurance coverage, area licensing requirements and warranties are properly covered.
If you need to transport units and join them at actual site then make sure that setup and delivery charges are included in the price or not. No terms and conditions should be hidden and all information should be out of the box.
Contract is an important legal document so read the contract thoroughly for all clauses and financial information before signing it. Sign a sales agreement between buyer and seller. Both buyer and seller should have a copy of sales agreement.
Choosing New vs. Used Trailer Home:
While buying is an important question you should also decide if it is better to buy new or used. Although buying new will cost considerably higher but it will still be affordable compared to traditional homes that are built on site.
If you decide to buy used, then you should perform a thorough inspection. Compare the prices and check if the cost of it used plus repairing etc are less than buying it new or not.
Another thing that you should keep in mind while deciding between a new and used home is that used trailer homes are ready to move in while it may take weeks to months in delivery and installation of a new home.
Matthew Kepnes is an expert at buying and maintaining trailer homes. Trailer homes often require more care than traditional homes and you should know what to look for when buying trailer homes. You can find additional facts about trailer homes on his website.
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