3 Reasons Why Manufactured Homes Are Becoming More Popular
Manufactured housing has really come of age over the years. Linked to older mobile homes with wheels attached and a hitch on the front, manufactured homes today look like anything but a mobile home. In fact, manufactured housing has come so far it’s hard to tell the difference between a manufactured home and a traditional “stick built” property. If you’ve wondered about the prospects for a manufactured home but haven’t yet made the decision, here are three advantages of manufactured homes.
Affordability. Manufactured homes are simply less expensive compared to a single-family property. How much less expensive? On average, manufactured homes can cost anywhere from 35 to 50 percent less per square foot compared to a traditional home. When combined with regular financing the monthly payments are much lower compared with a similarly sized structure. If a standard 2,000 square foot home is listed at $300,000 then a manufactured home with all the upgrades could be found for half that, or $150,000. That puts manufactured housing in the range of most borrowers.
Construction Process. When you build a new home you provide your bank the plans and specifications for the construction. These plans are prepared in collaboration between your architect and builder. Or, you’re buying in a new development, put down your deposit and wait for your new home to be built. In either process, once construction has started you lose control. There can be cost overruns or changes in construction during the process which adds time and money. With a manufactured home 90 percent of the construction takes place at the factory with finish up at your lot. It takes about one-third the time to build a manufactured home compared to stick-built property.
Energy Efficiency. Manufactured houses today are built with energy efficient in mind. In addition to highly efficient insulation most every aspect of a manufactured home has energy efficiency in mind. Energy efficient windows, doors and flooring are part of the mix. Energy efficient appliances with the Energy Star rating are part of the package.
Value. Not only is manufactured housing affordable today’s homes can actually increase in value rather than depreciate. That might have been the case long ago but today as long as the home is maintained and kept in shape and is located in a desirable area with similar homes in the neighborhood, there is an increased demand for such housing, holding value.
Flexibility. Manufactured homes must be at least 400 square feet to be considered a manufactured home but today’s homes can range anywhere from 2,000 square feet and up. There are even “high end” manufactured homes with 5,000 square feet. This means buyers can custom build their own manufactured home adding rooms, updating flooring and installing high end appliances. And because it takes so much less time to build a new manufactured home, it could take six months and longer to build a new stick-built home from the ground up. With a manufactured home, you’re the design expert and you’ll be in your new home sooner.
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