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Mobile Home Retirement Communities in Arizona

With its gorgeous weather and favorable tax structure, Arizona hosts a large, diverse retirement population. There are homes, amenities and lifestyles for every type of retiree. However, a large portion of retirees in the Grand Canyon state choose to purchase mobile home retirement units, and there are plenty of 55+ communities to house these manufactured homes. A senior mobile park can provide more cost-effective options and financial flexibility than build-to-own or other luxury retirement communities. This is not to say that mobile home parks and units are always cheap or for low-income investors- you still need to be mindful of what is available near you and make financially sound plans around your retirement. Let’s take a look at some of the different dynamics of mobile home retirement communities in Arizona.

Table of Contents

Table of Contents

Types of Mobile Home Retirement Communities in Arizona

While most people are generally familiar with the concepts of mobile homes, many are not aware of the nuanced differences between the different types available to purchase. As you begin to dive deeper into this type of retirement home, understanding the pros and cons of each set up is incredibly beneficial.

Park Model

A park model is the mobile home version of a ‘tiny home,’ which is becoming increasingly popular in all mainstream real estate. Not to be construed as a negative, their diminutive stature allows for simple living, affordable monthly pa

yments, and can suit many lifestyles. They are typically a single-wide unit with a kitchen, living room, and one-bedroom/bathroom combo. They are built on a single trailer chassis, and though they are skirted like a mobile home, they typically are not meant to move much.

One downside of a park model is that they are often excluded from being set up on private land in many places. Also, as mentioned, they have less true mobility than tiny homes or other mobile homes, which might be a hassle long-term. This can be especially frustrating if you get into a model that is your dream retirement home, but then your park forces eviction for non-financial reasons.

Owned Land

With owned land mobile parks, however, there is significantly less risk of eviction. As the name implies, the residents own the lot and the mobile home, while sharing in the upkeep and standards of the community. This can be extremely beneficial for creating a sense of community and taking pride in the quality of the neighborhood.

These resident-owned communities are soaring in popularity, particularly in destination retirement locations such as Mesa, Arizona. The dwellings in resident-owned communities are generally more substantial and more valuable than park models, and require certain levels of financial commitment to the cooperative upkeep. Additionally, there are often boards and other governing bodies to make major park decisions, though typically all contributing residents are eligible to vote on decisions.

In short, there is a different type of mobile home or retirement option for any buyer. Park Models can be less financially and structurally intensive than owned land models. However, if you want the security of investing in a mobile home and its land, then a resident-owned community can be a great addition to your retirement portfolio.

Costs of Mobile Home Retirement

Mobile homes are not just for seniors, but the structure of many communities and models make them extremely enticing as retirement options. This is because the cost can be much more affordable than a brick-and-mortar house and their surrounding communities. The extra cash can help relieve stress, free up capital for an active lifestyle, and allow for earlier retirement.

With those benefits in mind, here is what the costs typically look like for mobile home retirement communities in Arizona:

Rent or Mortgage

Regardless of what choice you make for residence, there will be a monthly cost for the unit itself. Park models can be rented for around $400-$650 per month in Arizona, which is a great discount relative to some of the other popular retirement destinations across America.

In terms of owned-land, the mortgage and ownership fees will be more congruent with a typical home loan, albeit with a smaller price tag. There will be the same process of getting a lender and putting down a payment, and in 2019, the median cost of resident-owned property space was around $180,000.

Thus, once you have figured out whether you are qualified for a mortgage, you can compare the costs between the two and determine which is more suitable for your retirement.

HOA Fees

With either retirement community setup, there are likely to be HOAs. Park models may have friendlier HOAs by design, but their ownership structure does not provide as much flexibility and community input. These are likely to be under $200 per month, and in many cases well below that number.

For resident-owned units in Arizona, the HOA fees might range from $200-$350, and come with more significant benefits. The ability to have a say in the direction of the park should provide investors with a sense of security in their purchase.

Utilities

Just like any other home, there will be a cost associated with utilities. These are going to be dependent on the size of your home, and the design of the community you are in. It is vital to have a clear understanding of the laws and regulations that apply to whatever mobile retirement community you are joining.

All of these costs are going to be much cheaper than a traditional retirement home, allowing for more cash to be allocated in other areas. If you don’t need a bunch of extra space for your ideal retirement journey, the lower cost may be a highly desirable benefit of mobile home retirement.

Will You Have Enough Space?

It’s a simple math equation – the cost of mobile home retirement communities is less due to the size of units. Now, let’s look at the specifics.

Park model units are usually around 400 square feet or less, as they sit on single-wide chassis. They have the more basic amenities that we listed earlier, and typically will sit on a smaller lot. These have gained popularity for their minimalist approach and financial freedom, but you should be ready to embrace that tiny home lifestyle before committing to a manufactured home.

For an owned land unit, there are considerable space upgrades due to less stringent coding. As they are more often double-wide, this allows for up to 36 percent more square footage on average in Arizona. This can be a massive benefit for a purchaser who wants a little more open space in their housing, while keeping the size of the house manageable.

Is a Mobile Home Right for Your Retirement?

There are pros and cons to both renting and owning a mobile home unit for retirement. Figuring out which type of purchase or investment is best for your dream lifestyle is an important decision, but not one that you need to lose sleep over

One guarantee is that this lifestyle will afford you more financial flexibility and mobility than a brick-and-mortar retirement home. If this sounds like something that would benefit you, it might be time to look into mobile home options.

As with all important real estate decisions, we recommend consulting with a qualified agent to help you make well-informed plans about Arizona mobile retirement communities.

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