Just because a mobile home you just found in Florida is cheap doesn’t mean it’s a good deal. Or does it?
Although mobile home prices have been rising not only in the state of Florida but anywhere inside the United States, there are still markets and neighborhoods where mobile homes are cheap. These mobile homes can create opportunities for investors seeking above-market returns
According to the National Association of Realtors, Americans stay, on average, 13 years in their home before selling it and moving into their next property. Additionally, although mobile homes are built to last 30 to 50 years and even more, the average time of people living in their mobile homes is shorter than 8 years. Most people who live in fast-growing areas like the bigger cities tend to stay at their homes shorter than in the suburbs.
In this article, we’ll talk about mobile homes for sale in Florida under $10,000, where to find them, and what to expect. We’ll also talk about the benefits and drawbacks of buying mobile homes under $10,000, and strategies investors can use in order to increase potential profits whether through flipping or renting out.
Preparing To Shop For Florida Mobile Homes Under $10,000
Before embarking on online mobile home hunting, think of how long are you going to stay in your current home, how long will you be staying in your new mobile home, and any changes you foresee in the upcoming period. Are you looking to buy a mobile home for temporary living, or forever?
Moving to a new home can be a very stressful event if planning is not enough. You’ll probably need to compromise some of the important items that must stay on the budget. You must have a list of your priorities like your child’s school needs, extra bathroom, etc. If you are looking to buy a cheap mobile home, pick only the top priorities since cheap mobile homes can’t offer everything.
Once your list is final, start searching the internet for a mobile home based on your budget and needs.
Things To Consider When Looking To Buy A Florida Mobile Home Under $10,000
Looking for a mobile home in Florida under $10,000 might be a difficult task but not impossible if you know the following considerations. Typically, a mobile home is offered for under $10,000, people would always think that the mobile home is not livable, needs a lot of repairs, or the owner is under financial stress. This is not always the case.
- The Mobile Home Location
Florida is a large state and finding a cheap mobile home under $10,000 could be a real challenge. One of the most important things to consider is the location. Many mobile home buyers want friendly neighborhoods, safe surroundings, easy commutes to work, near the beach, and other perks. Across Florida, mobile home buyers have been competing for suburban mobile homes, in addition, to urban mobile home parks.
According to Zillow index, desirable features of a good mobile home location include
- Closeness to urban and accessibility to public transport
- Places with low traffic
- Near parks and green spaces
- Walking and jogging sidewalks
- Waterfront locations or mountain views
If one or several of these elements don’t matter to you at all, finding a mobile home in Florida under $10,000 is much easier.
Realtor.com listed less desirable locations that could significantly reduce the mobile home’s price. These locations include:
- Noisy places near airports, highways, and railway tracks
- The nearest school, fire station, and 24-hour grocery store are out of walking distance.
- The nearest church and hospital emergency room are half a mile away.
- Near strip clubs, power plants, funeral homes, cemeteries, homeless shelters, or shooting ranges.
If you don’t have children or not planning to have one and you’re not bothered by any noise, living healthy, and are not religious, you may not care about any of the above elements. These locations usually have cheap mobile homes.
When you search Google for “cheapest places to live in Florida” the Internet will offer you hundreds of web pages telling different things. The reason why these websites are offering different information is that this is a very subjective matter. Yes, there are cheap places and expensive places inside the Sunshine State but not all expensive towns or cities don’t have mobile homes that sell for under $10,00. On the other hand, just because Cape Coral is considered the cheapest city in Florida, all mobile homes there are not cheap
There are mobile homes under $10,000 anywhere in Florida except for neighborhoods that are considered affluent.
- Mobile Home Size and Condition
Not all Florida mobile homes under $10,000 are single-wides. It always depends on the location and condition of the structure. Consider balancing the size of the mobile home and your available cash, but you want to make sure that the mobile home’s layout and other features like furnishings and furniture suit your needs. While children can share a bedroom and bathroom for a while, it is important to consider the time that your family is going to live in this setup. If you are planning to live in this new mobile home for ten years, ensure there’s enough space for the family as every kid grows.
Fixer-upper mobile homes are always the closest things for mobile homes under $10,000, but not all $10,000 mobile homes are fixer-uppers. The mobile home’s condition is the primary reason why it is cheap. You can find storm-damaged mobile homes that just need roofing repair or mobile homes that need repainting, flooring replacement, ceiling replacement, etc.
If your plan is for living, you must have an extra couple of thousand dollars for repairs. If the needed repairs don’t bother you at all then you have a wider selection of Florida mobile homes under $10,000. If your plan is to flip (repair and sell or rent out), sometimes, a simple repair can give you a decent profit.
Some people who are really tight on a budget buy the cheapest mobile home they can afford and fix it up as they live there This strategy can be a big money saver for skilled people, and for some who are self-taught builders. Doing simple repairs by yourself can save a lot of money from paying the handyman’s labor cost.
Florida Mobile Homes Under $10,000 – Are They Worth It?
The mobile home market is a complex housing market filled with misleading signages and confusing markers. A cheap mobile home may look like a great bargain at first only to reveal itself later as an expensive upgrade mobile home project.
Florida mobile homes under $10,000 are always cheap for a reason. They are smaller, need repair, are less desirable, and may require lots of money to repair that may exceed their expensive counterparts. You may consider many favorable reasons for buying a Florida mobile home under $10,000, but you need to understand what you are getting your hands into if you take this route.
Although dirt-cheap mobile homes may sound non-livable to many Americans buying the right one has many advantages. If you are a minimalist, or just don’t have more than $10,000 cash, buying a mobile home under $10,000 can result in the following:
- You don’t have to worry about paying a mortgage, and instead, you can pay off some debts, create college funds, or save for your retirement.
- You can save money for later mobile home improvement and repairs.
- Protect you financially from unexpected hardships like the increasing real estate rentals.
Special Considerations When Flipping Mobile Homes
If you are looking to buy a Florida mobile home under $10,000 with the intention of flipping it, you should assess and examine cheap mobile homes with extreme caution. The success of flipping depends on your ability to sell the mobile home more than you paid for. Consider the following when shopping for a mobile home:
- A significantly damaged mobile home that would cost thousands of dollars to repair.
- High crime rates around the neighborhood
- Falling mobile home values in the area. Although mobile home prices are increasing in Florida, there are areas where prices are falling for different reasons like the loss of job opportunities.
- An undesirable location like noises, far from basic amenities like schools, emergency rooms, 24-hour grocery stores, etc.
- An old mobile home that is soon to be beyond repair
What To Expect From Mobile Homes In Florida Under $10,000
A $10,000 budget for a Florida mobile home seems impossible and with very limited options but if you are not too picky and are willing to live inside your budget, finding one is not that complicated. Having said that, you must set your own expectations for a mobile home that is worth $10,000 or less.
Your expectations should include but are not limited to:
Single-wide mobile homes with 1 bedroom and 1 bathroom. Small mobile homes are cheap for a reason. They are designed for a maximum of two people. If you are a new couple and want to have a baby in the future, a single bedroom and single bathroom may not be a good option.
Mobile homes that needed repairs. Understand that your budget does not give you much-needed flexibility therefore, a $10,000 or less mobile home is expected to be repaired. Be it the roofing, ceiling, or flooring, make sure to examine the degree of the needed repairs. If the mobile home is just $9,000 and the estimated cost of repair will not be over $1,000, that can work out with your $10,000 budget.
An old mobile home that is soon to be beyond repair. If you are not planning to live longer in a mobile home, buying a cheap one could be beneficial. If you love DIY and can turn things bad into better, there are mobile homes that are considered old but still livable and very cheap.
How And Where To Find Mobile Homes In Florida Under $10,000
Truthfully, there are not so many mobile homes in Florida under $10,000 that are listed online but this doesn’t mean they don’t exist. The reason why some mobile home brokers do not list these cheap mobile homes is that they sell fast and some consider them not worth listing.
Mobile homes for sale that are storm-damaged usually sell fast especially when the needed repair is minor. The main reason is that many people are looking for cheap mobile homes in Florida. Additionally, YouTube and other online “How To” guides create more skilled people. These people can fix things by themselves without paying an expensive handyman.
So, if you are looking for a mobile home in Florida under $10,000, the best thing to do is to contact mobile home brokers like The Mobile Home Dealer which covers the Sarasota-Bradenton and neighboring areas. Although we don’t currently have a mobile home in Florida under $10,000 listed, every now and then, we always run into cheap mobile homes close to or even below $10,000.
Final Thoughts On Florida Mobile Homes Under $10,000
Cheap Florida mobile homes can be easy to find, especially in remote and rural areas. However, a mobile home under $10,000 doesn’t always make a good investment. While there are a number of great benefits in buying a bargain mobile home, including the possibility of higher resale profit, there are also some drawbacks.
Buying in the right location and hiring a qualified and experienced mobile home broker like The Mobile Home Dealer can help you expedite the process of buying a cheap mobile home in Florida. But doing the shopping by yourself can cost you a lot of precious time.
Sarasota County in Florida offers some of the best and most affordable mobile homes. Contact us today and discover our best offers!