Florida’s mild climate, beautiful beaches, and the absence of state income tax have made it a famous state for both young and old movers. Florida has a low cost of living and a high standard of living. Florida has various communities, including traditional retirement communities and mobile home parks.

Florida residents can choose to live inland or along the coast. Florida’s size allows for many options for living, such as buying prefabricated homes or moving into mobile home communities.

Florida Mobile Home Living: Fast Facts

Florida is home to some of the largest mobile home communities in the country. Mobile homes are popular because of their affordability and flexibility. A few things to consider when putting a mobile home on residential property.

• Some areas in Florida allow mobile or modular homes on standard parcels. You can move your mobile home to a Florida residential lot by purchasing a home in the town or rural area and then moving it onto that home.

• Some counties limit the location of mobile homes. They usually restrict them to rural and agricultural areas.
• According to the Florida Manufactured Housing Association, factory-built homes are as safe from hurricanes as other traditional housing types.
• Florida has around 1,600 mobile communities!
• In Florida, mobile homes can be “retired” and converted into real estate (changing their status from personal property to real estate property).
• Florida offers a wide range of affordable mobile home communities and parks. The US Department of Housing Florida Page has many more facts on mobile homes in Florida and their legality, including the Florida Mobile Home Act.

Is buying a mobile home in Florida a good investment?

A report revealed that mobile home prices rose an average of 34.6% between 2016 and 2021. This increase is only slightly less than single-family houses, indicating that mobile homes are not losing value as much today as they did in the 1970s.

Mobile home communities are a popular investment for many corporate investors. These corporate entities also increase the land rent for these communities. It is best to own the land where you will place your mobile home to avoid corporate shady dealings.

When is the best time to buy a mobile home in Florida?

The short answer is: choose a warm day during the summer. Florida is one of the fastest-growing states in the US. This means that competition is fierce for pre-owned or new mobile homes. The best time to purchase is during a hot summer’s day, as many Floridians are snowbirds and won’t be present to add to the competition.

Once “snowbird season” is over, prices are more affordable, and fewer people buy on hot summer days. Agents will likely pay more attention to you, and more homes should be available. Home Nation offers a large selection of new and used Florida mobile homes.

What is the down payment on a mobile home in Florida?

Lenders usually require a 5% down payment when financing a mobile home. However, they may also ask for collateral depending on the type of loan. The down payment percentage will vary depending on which lender you select. Most lenders will require a deposit of between 3.5% and 10%. You’ll need to put down up to 20% to get a conventional loan.

What is the minimum credit score to buy a mobile home in Florida?

Most mobile home loans require a credit score between 580 and 620 when buying a mobile house. You may need a higher credit score if you are a new home buyer. A larger down payment will offset a low credit score.

Do you pay taxes on a mobile home in Florida?

Yes. Florida requires you to pay sales tax if you purchase a mobile home, which is classified as a vehicle or boat. In Florida, the tax rate is 6 percent. You’ll also have to pay property tax if the land is yours. You must pay a registration fee if you live in a mobile home park. This helps you cover the property tax costs.

It’s exciting to be ready for the next step in mobile living, but you must know everything about buying.

Buying Your Mobile Home in Florida

• The initial step before purchasing your first mobile or modular home is determining how much you can afford. You can use a Mortgage Calculator to determine how much you can afford.
• Decide where you will live. You can better understand your monthly expenses by choosing between buying land or living in a community. This is a very different way of life, depending on your preferences.
• Apply for funding through your preferred banking institution.

You’re now on your way to a new life.

Registration and Titling

Register your mobile home at the Florida DMV once you receive it. You must ensure that the person or company who sold you the mobile home opens the title application.

After registering your home and paying the fee (fees are different depending on the size), you can install the decal in a visible window. A bill of sale is required for every title, but a notary does not have to be present.

Taxes

Taxes will be transferred to you once you’ve secured title to your new mobile home (so make sure you pay them all up to date). The buyer must pay the 6% state sales tax and local taxes.

Mobile home taxes in Florida can be assessed in two different ways.

• Renewals of window decals are also an annual license tax payable to the DMV. Your home must pay taxes annually, and the window decal will need updating.
• As real estate, you can pay real estate taxes on your mobile home if it is permanently attached to the land. This will save you from having to go through DMV.

Buying a Used Mobile Home

Buying a used mobile home may be an option if you’re looking for the cheapest option. It can take time to determine the value of a used mobile home. The average used mobile home price in Florida is $47,853, although options can be much lower or higher. The average size of a mobile home in Florida was around 1,100 feet.

If you are buying a used mobile, ensure that it is in good condition, that all taxes have been paid, and there are no unexpected or hidden liens.

Check with the manager if the mobile home is in a community or park. Ensure all payments have been made to date, and ask if any future lot rent increases are planned.

Mobile Home Community Living

When choosing a park, consider a few things if you’ve never lived in a community of mobile homes before.

• You are required to follow all HOA and park rules.
• Keep your property clean and clutter-free.
• Rent your property in a timely fashion.

Parks and communities can be an excellent choice if you’re looking for a cheap or temporary solution that doesn’t require land ownership. Mobile home parks often have amenities like fitness centers, swimming pools, spas, and communal hangouts.