Budget-Friendly Living: How Much Does a Used Mobile Home Really Cost?

It’s no secret that the cost of “traditional” real estate is higher than ever around the United States. But that hasn’t stopped aspiring homeowners from finding alternative, often better options, like mobile or manufactured homes. Quality manufactured homes with their own land are amazing choices for growing families, as well as anyone looking for real estate with all the bells and whistles they need in the home of their dreams.

If you’re in the market, you’ll find many new and used mobile homes available for sale. Is there a difference between these, and how much does a used mobile home cost? Keep reading – we’ll dive into the answers below.

What is a used mobile home?

A used mobile home is exactly what it sounds like: a mobile home that someone else has already bought and lived in for at least a little while. That’s it!

When it comes to mobile homes, whether they are used or new, there are not many meaningful differences between the two. New mobile homes, also known as manufactured homes, are constructed in climate-controlled factory environments to ensure high build quality and livability. These homes are built according to strict standards and are then transported to their final destinations.

On the other hand, a used mobile home refers to one that has been previously purchased or lived in by a resident. However, apart from this distinction, you can generally expect the same level of quality, amenities, and overall living experience in both used and new mobile homes.

How much is a used mobile home?

The average price for a used mobile home is typically the same for a new mobile home, with a few potential exceptions. On average, mobile homes cost anywhere from $50,000-$250,000 depending on size and location, with larger mobile homes trending toward the upper end of that range compared to smaller mobile homes.

More affordable than their traditionally built counterparts, new mobile homes had a median sale price of $148,100 in January 2024. Used mobile homes can sometimes cost as low as half the price of a similarly sized new mobile home. Maintenance, upgrades, and location factor into whether or not a home’s value depreciates over time.

If a used mobile home is in need of some repairs or has been less meticulously maintained by the previous owner, it is a great opportunity to negotiate a lower asking price! For example, if you come across a used mobile home that requires new flooring and has a small leak in the roof, you have every right to request a reduced price to purchase the home from its current owner. However, remember that this isn’t unique to mobile homes. Even traditional or site-built real estate is bound to the same principle. Homes that haven’t been taken care of are worth less than homes in excellent condition.

Factors that affect used mobile home price

The actual cost of a used mobile home is dependent on a variety of possible factors. Below are some considerations that go into what you ultimately pay for a pre-owned mobile home.

• Age and condition: Newer used mobile homes are usually in better condition than older homes (though this is not universally true). The condition of a used mobile home can heavily affect its market value – homeowners who take care of their homes can charge more to potential buyers.
• Size: Bigger used mobile homes are often worth more than smaller real estate.
• Features and amenities: It’s a good idea to be ready to pay more for a used mobile home with brand-new, energy-efficient appliances and new marble countertops!

Again, this is the same for a new mobile home. If you look at two new mobile homes side-by-side, and one of them has an extra bedroom and a bigger bathroom, why wouldn’t it be a little more expensive compared to its smaller counterpart?

Is a used mobile home a smart investment?

A used mobile or manufactured home on its own land parcel could be an excellent investment depending on your budget and your real estate needs. Many aspiring homeowners are turning away from the traditional real estate market due to inflated prices and competitive bidding wars. Mobile homes represent great alternatives because:

• They’re just as high-quality as site-built homes.
• They’re often more financially accessible for people with different budgets and credit scores.
• Similar to stick-built houses, manufactured and mobile homes can appreciate – gaining value over time to become even better investments, especially if the homeowner makes certain improvements or additions to the property. They appreciate the same as traditional real estate.

Given all these factors, a used mobile home could definitely be the best be a wise investment you can make for your family and your financial future.

Potential benefits of used mobile homes

Used mobile homes sometimes have hidden benefits or advantages that you might not expect compared to newer homes.

It’s true that some homeowners don’t take care of their properties, so it pays to be careful when you inspect a used mobile home for the first time. But other homeowners do the exact opposite: they upgrade their real estate and make positive renovations that contribute to greater equity and higher property value.

For example, you might find used mobile homes with additions or improvements like:

• ADUs or accessory dwelling units, which can be used for guests or renters
• Expanded or added front or back decks for backyard barbecues, spending time outside, and more
• Updated or upgraded bathrooms with bigger bathtubs or showers
• Solar panels on the roof, resulting in better energy efficiency, tax credits, and utility bill savings

These are just a few of the ways used mobile homes can have pleasant surprises when you start your hunt for the perfect house.

How to buy a used mobile home

Financing the purchase of a used mobile home is very similar to getting a mortgage for a traditional house or a new mobile home. You’ll need:

• A down payment
• A mortgage lender

When you find the right lender for your mortgage needs, you'll make an offer to the current homeowner and – assuming they accept – order inspections and appraisals. Then, you'll sign the mortgage documents, make a down payment, and cover additional closing costs before moving into your new property!

It’s easier than ever to find mobile home lenders that can work with you and connect you to the right loan, no matter what your budget or credit score might be at the time. 21st Mortgage has a long history of helping Americans purchase homes thanks to the expertise of our loan officers and the variety of financial options we have available. If you’re looking to buy a used mobile home in the near future, connect with us!

Contact 21st Mortgage today

Ultimately, the cost of a used mobile home could be within your budget, combining affordability, build quality, and even property upgrades all in a single package. At 21st Mortgage, we can help you snag a used mobile home with financing that works for your lifestyle and other needs. Get in touch with one of our loan officers today to learn more!