Mobile Home Insurance

Getting mobile home insurance in Tampa Florida is a little tricky but not impossible.  You must work with the appropriate experienced insurance people, so plan to check around and find someone who is familiar with Mobile Home Insurance.  Mobile Homes can be insured, but on an “Actual Cash Value” basis and not “Replacement Cost” where you get new for old. Citizens Insurance Company will insure mobile homes if they are in an approved mobile home park. American Traditions will insure as well, but it has to be on less than 5 acres.

In short, to get a quote on insurance there needs to be an appraisal of the mobile home to start the process due to the limited amount of info in the tax records.

The premium on an average mobile is between $1500-$2500 a year. For double-wides you are talking $3000 a year plus.

Some insurance companies may require the Replacement Cost Calculator redone every year to account for depreciation.

Single Wide vs. Double Wide Mobile Homes

Tampa Bay Mobile Homes comes in various shapes and size.  Simply put Single Wides are just a single section of the home.  Double wides are two sections bolted together to make the home bigger.  Either home can have a garage, carpet, porch, awnings, sheds, additions or even a “push out” to deliver more square footage.

Singe Wide Mobile Homes

Single wides are the least expensive and also the smaller of the two and they are built in the factory and delivered onsite ready to go.

Double Wide Mobile Homes

Double wides are made up of one of more sections and require a bit more work on site but can be as big as 2000+ square feet.

Which one is right for your family?

 

 

Mobile Home Financing

As you probably are aware financing on a mobile home can be tricky here in Florida.  If you can pay cash for your mobile home purchase, we would highly recommend it.  The process of attaining a loan for a mobile home can be lengthy and confusing.  And, in many cases, very expensive.

If a mobile home is older than 30 years it needs to be a cash purchase, otherwise it depends on the age of the property and how much the bank will require as a down payment.

Most Mobile Home Lenders refuse to commit to a fixed rate for longer than 15 years, and in some cases 20 years.  So, most loan lengths will be 5 years to 15 years.  Payments can usually be spread out on a longer schedule, for example with a balloon due at 10 years.  If possible, people could refinance at the end of 10 years or pay off the note.

As you may have guessed, these loans tend to be riskier than other Real Estate Loans, and therefore the fees tend to be higher.  Expect to pay 2% or more in origination fees, and additional closing costs – for a total amount of 4% of the amount you want to borrow.  These are some of the reasons many people just pay cash for a mobile home purchase.

 

The Difference Between Renting or Owning the Land for a Mobile Home

There are basically two types of Mobile Home parks.  Those that you rent the land and those that you own the land upon which your mobile home sits.  Both types of parks are affordable and are by far one of the cheapest forms of residency there is.  Both types of mobile home parks are considered safe and enjoyable.  Most times whether they are a rental or land owned, these parks offer community amenities such as a pool, clubhouse, or other areas that are shared between the residents.  Also, both types of parks are going to want you to qualify or interview to live there.

Rental Parks

In some area, there are more rental parks than land owned parks and they are cheaper to live in and a great first step at home ownership. In this type of park, you will own the mobile home but pay a monthly rent for the land.  You will want to shop around for a rental that fits your budget because some rental parks can be expensive.   If you tell us what your budget is, we can search for that criteria for you in the MLS.

Land Owned Parks

In a land owned park, you own both the land and the mobile home and will pay an HOA fee which should be less than if you were renting the land.  In these land owned parks, there could be more of a sense of community and pride of ownership.  Residents will usually take more interest in the neighbors as well.  Ownership is either:  Condo or Corporation.

  1. Condo owned means that the lots are divided and assigned a parcel number, they are individually taxed, and the structure may or may not be permanently attached.  Typically the common areas are managed by the Home Owners Association and on-site manager.
  2. Corporation owned means that the residents own a share in a corporation.  This corporation owns the mobile home park and / or the land therein.  The Board of Directors vote and make all decisions pertaining to the park and appoint an on site manager to handle the daily park operations.

Whichever ownership you desire, we can search for that for you in the MLS and send you listings to look at.  Just let us know your criteria, price range and area of interest and we will get some listings out to you by email.

Review communities:  Pinellas County Mobile Homes, Pasco County Mobile Homes, or Hillsborough County Mobile Homes.

What to Look for When Buying a Mobile Home

Purchasing a mobile home can be an excellent move for those who are interested in buying an inexpensive cheap home that is easy to maintain. Despite the reputation that used mobile homes have garnered in some areas, these homes can be quite attractive and well-put together. In fact, some of today’s mobile homes are difficult to differentiate from stick built homes. Still, whether considering Nashville homes for sale or a place in Tampa Bay, in order to ensure you are happy with your purchase there are a few areas that you need to pay particularly close attention to when searching for a mobile home.

The Crawl Space

When viewing a mobile home, the crawl space is one area that you should be sure to check out. While many people do not care for going into the crawl space, this part of the home can provide you with valuable information regarding the overall condition of the home. When checking the crawl space, keep an eye out for rot, mildew, rust and other similar problems. While there, you should also check on the electrical work, as well as the ductwork and plumbing.

Heating and Air

Heating and air conditioning units can bring a unique set of concerns with mobile homes. First, you need to make sure there is adequate combustion air for a gas or oil furnace. The furnaces found in most mobile homes are the down-flow style, so you will want to be sure there is plenty of air flow at the underside. Furthermore, you should check to make sure the home has adequate ductwork. Outdoor tanks are also subject to condensation and rust, so be sure to check them thoroughly to ensure they are in good condition. Keep in mind that the bottoms are at a particularly high risk for rust.

Water and Sewage

If you are purchasing a home within a mobile home park, your water and sewage may be private or communal rather than municipal. Be sure to find out how your water and sewage is managed as well as who is responsible for maintenance and repairs. If your water and sewage is private, be sure to get it inspected before you make a purchase.

Owner Add-Ons

Many mobile home owners choose to add porches, additions and other extras to their homes. While these little extras may be nice, some do not have the proper knowledge to create these items correctly. For example, they may have failed to provide adequate ventilation underneath, they may have used unorthodox framing methods, they may have used substandard roof-to-wall flashings or any number of other problems. For these reasons, it is in your best interest to have the home inspected by a professional in order to be completely sure about the mobile home you are buying.

This is our New Website! Tampa Bay Mobiles!

We thought Tampa Bay Florida needed a mobile home website ~ just dedicated to all the mobile home parks and communities throughout the central west coast of Florida. Not everyone wants to buy a home or a condo; we have many other websites for those but this is our MOBILE HOMES FOR SALE website and we hope you find it useful!