A mobile home park is a residential community made up of blocks and rows of homes on wheels. Mobile home parks are where people live in the nation’s largest trailer parks.
The first mobile home park was built by Clarence Saunders who founded Piggly Wiggly grocery stores in Memphis Tennessee.
Mobile Home Parks are a great place for low-income families to live. There is a misconception that mobile homes are not safe, but the truth is they have fewer fires and less crime compared to other forms of housing.
Mobile Home Parks can be found in rural or suburban areas, and often offer amenities such as pools, playgrounds, laundry facilities, and more!
“It’s a lot easier to start a mobile home park than you might think. There are many different ways that it can happen. If you’re considering this as a business venture, then you’ll want to know how it can be done.”
How to Build a Mobile Home Park?
Here are few steps to start a mobile home park.
1- Pick your location: Before you even think about building the park, you need to find a piece of land that’s right for it.
The ideal space is fairly large at least 10 acres, but depending on how much money you have in the bank and how many units you want to build it could be smaller.
2- The next step is planning out where each home will go so that there are no overlapping areas or spaces that are too close together.
3- You’ll want to build a clubhouse or laundry facility for your tenants.
4 – When everything is all planned out, you need to hire a Mobile Home Installation Company to start building the homes.
5 – The houses should be ready within two weeks, but make sure that they are set up before winter because anything below 40 degrees can cause pipes to freeze and burst to cause thousands of dollars in damage.
6 – The next step is setting up phone lines and electricity.
These things must be done as soon as possible after the park is finished because it will give the sense that people have been living there for a while which will deter thieves from breaking in thinking no one lives there.
Also, if someone is living there it will be easier to track down a burglar.
8- Now the final step is preparing for the grand opening! You can start this process by sending out press releases to local newspapers and adding an ad about your home park in the phone book.
Also, make sure you look into any state requirements concerning Mobile Home Parks. This way you won’t run into any problems when trying to open your new business venture.
How many acres do you need for a mobile home Park?
Generally speaking, having 5 acres allows Mobile Home Parks to be an economically viable business opportunity.
However, many factors contribute to the success of a mobile home park. The population density in the surrounding area is an extremely important factor when it comes to figuring out how big your land should be.
The number of people in the neighbourhood also contributes to whether your business will be profitable or not.
For example, if you have 10 acres and very few people live around you, then it may take much longer for you to turn a profit because it would force the rent prices higher than what most tenants are willing to pay.
The size of your lot is also important because smaller spaces usually attract lower-income families which can be problematic for the community.
Also Read: How Many Mobile Homes Per Acre?
Is buying a mobile home park a good investment?
Mobile Home Parks have been popular since the 1960s, and mobile home parks continue to grow in demand today.
The National Association of Mobile Home Park Owners found that at least 1 in 4 Americans lives in a mobile home park.(MHPHOA.COM)
Also, over 80% of mobile homes are located in these communities which makes it a great investment opportunity for future homeowners. It is estimated that there will be more than 44 million people living in mobile homes by 2020.
The profit margin also seems appealing for investors, because most mobile home properties can be bought or sold at three times their annual gross income which gives you quick access to your money when you decide to sell.
With such an attractive return on investment (ROI) and high demand, it’s not surprising that more and more people are buying mobile home parks for their retirement or as a second home.
How do mobile home parks work?
Mobile home parks allow people to own their house and the land it sits on for a low cost.
Because they are not tied down to a single piece of property, tenants benefit from having easy access to amenities such as shopping, groceries, and schools.
Also, with the use of homes that “float” on their blocks (which can be moved in case there is a flood or another emergency), mobile homes provide their owners with an extra degree of security.
However, the most appealing aspect of living in a mobile home park is still the affordability – many families can’t afford an expensive mortgage plus maintain an expensive yard if they wish to raise children or pets.
What may seem like drawbacks (the lack of space and privacy) are often considered as positives by those living in mobile homes because they have chosen that lifestyle, and the park system makes it easier for them to enjoy their freedom.
Because of this, a large number of retired couples and widows flock to mobile home parks because they offer a simple way to live without a lot of expenses.
Building a mobile home park is no easy task. It requires careful planning and consideration of many different factors to ensure that you get the most out of your investment in this type of development.
In general, there are four main steps to take when building a mobile home park:
- Determine what types of homes will be allowed on-site.
- Create floor plans for each lot (this includes considering whether or not you’ll allow RV parking).
- Find an appropriate location with access to utilities.
- And finally, hire skilled contractors who can help turn your plan into reality.
If any step goes wrong during construction, it could throw off the whole process and cost you even more money than anticipated.
For these reasons alone, it’s important to make sure your calculations are as accurate as possible before you begin building the mobile home park.
Building a mobile home park is an exciting endeavor that requires patience, planning, and cooperation.
We hope our guide on how to build a mobile home park has helped bring some clarity to your decision-making process!