Buying a modular home is a big decision as you will live in this unit for some years to come. As with other real estate investments, purchasing a modular home shouldn’t be relentless or impulsive.
You will be laying your hard-earned cash so you can have comfort and security.
If you buy a used modular home, the chances of coming across future troubles are much higher. It is imperative to conduct due diligence to move forward with confidence.
This article lists all the questions to ask before buying a used modular home.
1. How old is the home?
It is crucial to ask the age of a modular home when buying it from previous owners. Before the owner hands you the keys, you should know its provenance and construction timeline.
When you know the age of a modular home, you can spot the trouble areas. For instance, a home manufactured a decade ago may have plumbing problems.
2. What material is used to make this home?
You will be the next owner, so you should be giving it the best care possible. Knowledge of the material used for siding and flooring will enable you to pick the correct cleaning equipment.
You can seek the assistance of a trained professional to inspect the construction and material used. They will analyze every corner and highlight the weak spots for you to fix them.
3. What is the electric and plumbing situation around the house?
Like wall paint and kitchen cabinets, the cosmetic factors are easy to replace. But when it comes to complex areas, like wiring and plumbing, you may need substantial investments.
So before you make the final pick of a used modular home, ensure that all such aspects are intact. Ask an engineer friend or a professional to assist you when scanning the house.
4. What about the warranty of this modular home?
When buying a modular home, you should know about the three types of warranties:
- Third-party warranty used for all products fitted inside the house. This includes windows, appliances, and plumbing instruments.
- State-mandated warranty for modular homeowners.
- Structural warranty provided by manufacturers supported by a third-party insurance company.
Ask the previous owners about these warranties. You should get the required documents before you take charge of the house.
5. What are the city regulations for modular homes?
The cities in the USA have varying rules about modular homes. It would be best to ask the previous owner about any troubles they faced regarding the home placement.
Also, check with the city municipality. Not abiding by the state terms and obliging by the permits will speed down the process.
Countries apart from the USA may have entirely different terms for modular homes.
6. Do you have proof of the title certificate?
You will be investing a lot of money in the modular home, even if used.
You should demand proof of title certificate from the previous owners and ask for a valid deed. The deed will regard you as the new homeowner.
Registering beforehand lets you brush away all the legal trouble that awaits down the corner.
You may be eager to step into the new housing but completing documentation is always a wise move, regardless of the time it consumes.
7. What is the stability level of this modular home?
Once you have your eyes on a used modular home, you should look beneath the structure and all around it to see how it sets.
The next factor to consider regarding stability is the climate. For example, a hurricane-prone vicinity demands more steel straps to ensure that the home stays stable during the rough weather.
8. Are there any signs of wear and tear around the home?
Evaluating the nook and crannies is essential to determine its final price. It would help to examine the hardware, insulation, and paint around the home.
Ask a real estate agent to accompany you during this visit as these problems aren’t easy to identify for a layperson.
You will be the next owner of this modular structure. It helps to know all costs waiting ahead.
9. Can we try out this modular home before moving forth with the purchase?
This question may sound absurd when buying a regular house.
However, it is different in the case of a modular home. You can search online for Airbnb lists to obtain a real-life experience staying in modular settings.
You can ask the previous owner about the home manufacturer. Some companies have houses built along with showrooms which you can visit.
10. What are the fees for owning this home?
There aren’t only upfront costs of buying the used modular home. One of the critical questions to ask before buying a used modular home is about the side costs.
Associated fees like security and maintenance could make a massive difference in your monthly budget. So you have to be vigilant while making the final payment.
Do people regret buying a modular home?
Many buyers may feel guilt after investing a hefty amount in the modular home.
Nonetheless, the traditional brick-and-mortar homes have become increasingly expensive and unaffordable for many.
This is one of the finest and most appropriate options for those struggling with finances.
Are modular homes a good investment?
Modular homes are an excellent option for those who cannot afford traditional houses. These are typically 1/3rd the cost of a single-family house and ½ of an apartment in the same building.
You don’t have to ask all the questions mentioned above when buying a used modular home.
Instead, you should select the questions applicable to the house under speculation. You shouldn’t hesitate to ask the homeowners about the problems they faced in the community and why they decided to abandon the place.
Don’t forget to ask the local legal office about the civil suits filed against the modular home builders and current owners.
Ensure all inspection and documentation are completed before the cash leaves your hand.