What are the major considerations before you buy a home?
Buying a home is one of the largest purchases people make in a lifetime and many future homeowners purchase a home with hopes that it will appreciate over time. According to the Manufactured Housing Institute, manufactured homes can appreciate in value just as site built homes appreciate in value which can make them a good investment. Depending on the laws of the state in which the home is located, a manufactured home that is permanently affixed to land can be considered real estate property.
After buying a home, you will have added expenses for things like homeowners insurance and maintenance, but being able to do essentially whatever you want with your property is one of the best things about homeownership. Not to mention, with modular or manufactured homes you can customize your new dream home to fit your lifestyle.
Homeownership also means breaking free from the constraints of renting and having the freedom to hang pictures on the walls, decorate wherever you like, built additional storage and own pets without landlord restrictions. In one word, homeownership means choice.
When you’re ready to buy a home and experience all the freedoms and privileges, as well as responsibilities, that come with homeownership, Titan is here to help you find the manufactured or modular home of your dreams.
From our home building experts all the way to our home center consultants, Titan Factory Directs team members can't wait for you to find a home you're proud to call your own. Our friendly and knowledgeable home consultants are ready to help you find a floor plan you love with features and upgrades to personalize your home to you and your family's lifestyle. They're ready to walk with you throughout your entire home buying journey.
Where to start
Once you’ve made the decision to become a homeowner, there are a few steps you should take to figure out what type of home is right for you and your family and how you want to finance the purchase. The process of buying a home is exciting, but it will also require you to take a hard look at your finances and your personal goals. Follow these steps to help you get started!
Figure out how much you can afford
Take a hard look at your budget by adding up your total monthly expenses then subtracting that number from your total monthly income. Can you afford a house payment, and expenses that come with a new home with what you have left over and still put money toward your savings or emergency funds? Know what you can afford.
Check your credit
Find out what your credit score is by contacting a credit bureau. Your credit score can help you determine what financing options you may have if you are planning to apply for a mobile home loan from a lender.
Save up for a deposit
When purchasing a new home, you’ll want to make an initial deposit on the home—similar to putting money down on a new car. Most lenders will also require a down payment so be sure to check with your lender of choice about what financing options may be available and what a loan may require.
After going through your finances and determining if you’re ready, you can start looking for your new home! Before shopping for your new home, sit down with your family and make a list of wants and needs so you have an idea of what you would like before you visit a Titan retailer. Titan can help you create and design a house that you will be proud to call your home.
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