David SidoniFirst-time home buyer advocate, podcast host, and real estate pro helping renters become owners with real talk and no BS

Manufactured home hidden fees - protect yourself #firsttimehomebuyer #firsttimehomebuyingtips

Name: Manufactured home hidden fees - protect yourself #firsttimehomebuyer #firsttimehomebuyingtips
Uploaded: 2025-02-13T16:23:54+00:00
Duration: 43 s
Channel: David Sidoni
Description: A short video segment by David Sidoni explaining that components of manufactured-home ownership—like foundations and land—can be treated differently for…

13 Feb 2025 · 1 min

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A short video segment by David Sidoni explaining that components of manufactured-home ownership—like foundations and land—can be treated differently for financing and ownership: foundations and land may be financed or leased and thus not considered real property, while the home itself can be personal property and financed differently; monthly fees for land or foundation may apply and can change over time, which buyers should consider.

Chapters

The foundation is actually part of what you own. But with many manufactured homes, it also might be financed, which is not real property. Now, doesn't mean it's fake. It means that that land is leased and you don't own it. The home itself that is not permanently affixed to a foundation. Those are generally classified as what we call personal property. So you can get a loan on that just like you can on a regular house. But sometimes the land underneath, or the foundation underneath, is something that you have to monthly fee. And as time goes on, you might not control exactly what that fee is and when it can be raised. Something you really need to take into account when you're looking at a manufactured home.