Things You Need To Know When Dealing Mobile Homes With Senior Citizens

In the United States (US) Census, it was estimated that there were around 47 million senior citizens living in the US. This large number means that it will be unsurprising for them to be one of your customers in your mobile home investing career.

It may be intimidating to make a deal with senior citizens given the generational gap between you two. But they are still customers you need to accommodate. Here are 5 things you need to know when buying or selling mobile homes with senior citizens.

1. Senior Citizen Mobile Home Communities

Mobile home parks that have age restrictions exist all over the country. The age requirement depends on each park and it must be written into their rules. It would be useful to, at the very least, be aware of these parks and watch over their supply and demand. They will come in handy if you want to buy or sell mobile homes inside those communities. You can also ask a senior citizen, who is looking to buy, if they want to be inside a senior citizens only community. Not only are you making money from these deals, but you’re also helping them live wherever they are comfortable.

Take note: There are senior citizens who aim to own multiple homes or rent a vacation home. They are usually from the colder states who go to warmer states to take a break from the cold. These people are called “snowbirds” and it’s best to keep an eye out for them.

2. Mobile Home Preferences

Senior citizens are just like everyone else! They also have their own wants and needs in a mobile home. Some of them may want expensive mobile homes, while others are satisfied with simplicity. One thing’s for sure: they all want to live their twilight years in a cozy, safe, and clean home. Make it a protocol to sell them a mobile home that is repaired, newer/modern rather than older unit, and has 2 bedrooms (unless they say otherwise). Besides, don’t we all want a comfortable life when we get older?

3. Be Patient with Senior Citizen Sellers

Take time to understand and help senior citizen mobile home sellers. They are doing their best, just like you! Educate them about their options and guide them when they are confused. It is common for people of their age to be forgetful, short tempered, and a little slower. The best way to handle them is with patience and compassion. A good deed may be rewarded in the long run.

4. Stay Cautious and Get to Know The Buyer

Not all senior citizens have money to buy the homes they want. There may be times that you will encounter a senior buyer who will scam you or give you other kinds of trouble. They may be talking about what they want but not have the cash to pay for it. Being cautious and knowing who the buyer is will give you an idea if the deal you’re in is problematic or not. By assessing your situation and keeping on being persistent, you may be able to solve the problem.

5. Payments

Majority of senior citizens in the country receive allowance through Social Security, pension, IRAs, and 401(k)s. Because of this, most of them can pay rent on time and some can even pay extra when buying a fully furnished home (yay!). However, there are still instances where they are unable to pay on time. This may be because of medical expenses, forgetfulness, or just plain carelessness on their part. Listen to their excuses and lend a helping hand if you can. That way, you can get your money without problems.

Everyone gets older. Sooner or later, we will be senior citizens too. This means that the mobile home market for senior citizens is alive and will continue to be until the future.