Mobile Homes are affordable housing options in Canada. Have you ever wondered how the procurement and financing of mobile homes work? Do you get a mortgage to buy a mobile home? Or are all trailer parks a gateway to the Upside Down? This article sheds light on what, why, where, when and how mobile homes for sale in Canada. 

What is a Mobile Home?

What is a Mobile Home

Mobile Homes are factory-made homes which can be transported from places on a flatbed truck. A mobile home has a simple design and can be retrofitted according to the resident’s needs. Several Canadians are looking for inexpensive housing during the cost of living crisis. Mobile homes are affordable houses as compared to traditional homes. The Canadian Mortgage and Housing Corporation backs up the trailer home concept. Mobile homes in Canada are of two types- single wide, approximately 9 feet, or double wide, around 18 feet wide. Little space means less maintenance as compared to a traditional property. This is also why mobile homes are good for investment purposes. Maintaining an apartment, a home, or a commercial space is easier than a mobile home. 

  • Cost of Mobile Homes

Since mobile homes are smaller than regular-sized homes, they are less expensive. Smart homes are built in factories; therefore, the cost of materials used for construction is lesser as the manufacturer purchases them in bulk. However, the cost might increase if you go fancy with your mobile home. 

On the other hand, the problem with mobile homes for sale is that they are a depreciating asset, and you must buy or rent the space for parking the mobile home—the cost of investing in a mobile home immediately rockets if you were to buy or rent land. The cost of a mobile home in Canada depends on the location. For example, the average cost of a property is higher in Vancouver than in Ottawa. 

Can You Secure a Mortgage for a Mobile Home?

Can You Secure a Mortgage for a Mobile Home

As mentioned above, mortgage homes are recognised by the Canadian Mortgage and Housing Corporation. The fastest way to secure a mortgage is by buying land where you want to live or invest. You may want to explore a chattel mortgage, which can stay in effect even if you relocate your residence, as it links the loan to personal property. Such mortgages have a higher rate than the usual interest rate. 

If you are looking for a partial loan, you can use an unsecured mortgage to help you secure up to $ 50,000. Another option could be to set up a mortgage deal directly with the manufacturer. The in-house mortgage system is much easier and processes faster. However, the interest rates are quite high in this case. 

Comparison Between Traditional Homes and Mobile Homes

The cost of traditional homes is much more than mobile homes. Mobile homes in Canada cost 50% less than traditional homes in certain regions. Being simpler in design, mobile homes are easy to maintain and affordable. Mobile homes are also energy efficient, reducing utility costs by a good percentage. Mobile homes might look more affordable initially, but the maintenance and upgrade costs double that of the said property. Since they are factory-made, mobile homes are not made with durable materials. You might need to keep fixing minor inconveniences around your home. Despite these additional costs, mobile homes are widely popular in the country. 

Are Mobile Homes a Good Investment? (Pros and Cons)

Whether mobile homes are good for you or not depends upon your requirements. Mobile homes have both advantages and disadvantages, which are listed below. 

  • Pros

Here are some of the benefits of investing in a mobile home.

    • Affordable Housing: Mobile homes are affordable because they are made in factories. Currently, the prices of houses are on fire, making the homes and apartments very expensive. Mobile homes are a good option for inexpensive homes in Canada.
    • Easy to Customize: Mobile homes allow you to play around with your home. You can add whatever is required and remove what is not. You can also equip more sustainable options than the usual fixtures.
    • Maintenance Cost: The maintenance cost for a mobile home is much less than a traditional home’s. Since the size of the homes is smaller, they require less maintenance. You would also love the numbers of your utility bills. 
  • Cons 

Here are some of the disadvantages of investing in a mobile home.

    • No space: There is little space in mobile homes. Your home could be up to 20 feet wide. There is little space to move around in a mobile home.
    • Resale value: Mobile homes have limited resale value. They tilt more towards being a personal property than a piece of real estate. The value of a mobile home starts to depreciate the moment it walks out of the factory. For those reasons, you might want an out.
    • Economic challenges: Securing a loan for mobile homes could be tough since they are viewed as personal property. They are not counted under the traditional home mortgage circuit. You might have to go for special financing options to purchase a mobile home. 

How Can You Finance a Mobile Home? 

There is a huge difference between a mortgage for a traditional home and a mobile home. Mobile home financing depends on factors like the purchase of land, the purchase of a mobile home, renting a pad and so on. Some financing options for mobile homes are mentioned below. 

    • Traditional Mortgage: Getting traditional mortgages for mobile homes takes time. The most possible reason to qualify for a traditional mortgage is to get the loan for the land where you’ll be parking your mobile home. 
    • Personal Loan: Mobile homes are considered as personal property more than a real estate element. However, you can qualify for an unsecured personal loan for a mobile home. The limit of a personal loan is much less than the chattel loan. You must take a personal loan for such property to pay off the complete amount. Even the interest rates under personal loans are very high. 
    • Chattel Loan: Chattel loan is a mix of traditional and personal loans. It is also known as a personal loan lien. Chattel loans are employed for people renting or buying a mobile home in a trailer park setting. These loans have a high rate of interest but are also flexible. Chattel loans are required to be renewed in a  few years. You can also get your mortgage transferred if you are moving cities under chattel loans. You can put down the principal amount whenever you want under chattel loans. 
    • Manufacturer: In some cases, the manufacturer also gives out loans on the mobile homes that they are making. However, the interest in this case is much higher than the normal rate. You can contact the mobile home company for loan services if you want this setup. 

How Can You Purchase a Mobile Home? 

The first step to buying a mobile home is to get a mortgage approved. Once you secure the finances, you can look for various website listings for mobile homes in your preferred province. After choosing the house, all you have to do is move in. While choosing your new abode, go through everything from the house’s durability to the cost you could incur if you ever want to move from your current area. Mobile homes are a depreciating asset. Make sure you factor it in before you invest in a new property. 


Mobile home living has been looked down upon for ages. However, the cost of living crisis and the real estate market on the roller coaster that only goes up could be helping people more. Mobile homes, therefore, are a cheaper option than traditional homes in Canada. Due to high demand, manufacturers have recently started investing heavily in the durability of mobile homes. Unlike earlier, mobile homes are viewed as a worthwhile investment.

Frequently Asked Questions (FAQs)

Do mobile homes have good resale value?

No, mobile homes don’t have a good resale value.

How much does a mobile home cost in Canada?

A mobile home costs at least $160,000 in Canada

How do trailer parks work in Canada?

You need to rent out a piece of land in a trailer park in Canada, where you can park your mobile home.

What is a mobile home in Canada?

A mobile home is a manufactured movable home much cheaper than traditional homes in Canada.