When buying a mobile home, purchasing land provides ownership but can be more expensive, while leasing land in a mobile home park is cheaper upfront but the land is not owned. Some key factors to consider for a mobile home park include monthly homeowner's association fees, amenities like gated security and common areas, adequate land area and privacy, and securing a minimum three-year land lease to qualify for certain mortgages. Buying in a mobile home park can lower monthly costs and provide more funds for other expenses compared to purchasing land.

1. MOBILE HOME
BUYING
CHECKLIST
When buying a mobile home, it may be wise to make a strategic
land decision. While a privately-owned parcel has a certain allure at
first blush, leasing land in a mobile or manufactured home park also
provides value. These are critical items to check off when
considering buying a mobile home in a park.
LAND AND
PRIVACY
How much is the
homeowner’s
association fee
(HOA)?
Buying a new mobile home and having it delivered to a leased-land
park can lower your monthly mortgage costs and provide you with
more money for leisure spending. Not having to purchase land
upfront also helps many first-time buyers qualify for home loans.
When buying a mobile home
Information Source:
https://www.thehomesdirect.com/
AREAS
GATED
SECURITY
HOA
Does the park
have common
areas you can
utilize?
Does the mobile
home park have
gated security?
Do you receive
adequate land and
privacy to meet
your needs?
OWNED
Can leased land
be owned over
time?
3 YEARS
Can you get a
minimum 3-year lease
to help qualify for a
federally-guaranteed
mortgage?