They are a great value for the price. Of course there are some benefits to buying a mobile home. For one, they are affordable. Even with rent in a mobile home park, a mobile home may cost less than an apartment per month.
Mobile homes built after 1976 have been subject to standards enforced by the U.S. Department of Housing and Urban Development (“HUD”), so that the quality of construction is often very good. One of HUD’s stated goals is to ensure that mobile homes are durable. As a result an affordable mobile home should last you a long time.
A mobile home is an asset that you can sell when you are ready to move (unlike an apartment you rent). In other words, you end up with some equity in the mobile home, so that when you go to sell it, you will receive some cash in exchange.
If homeownership and a yard is your primary concern, a mobile home is a smart purchase. Look at your life goals and you may decide purchasing a mobile home is the right choice.