Reasons why you should choose a manufactured home:
Manufactured homes have rapidly gained interest as a home ownership option, providing housing to over 17.7 million people across the United States. Their affordable, high-quality, and low-maintenance design make manufactured homes an attractive option for home owners.
What is a manufactured home?
A manufactured home is built in a highly skilled and controlled environment based on the buyers’ design. The major components are prefabricated using advanced energy efficient methods and sustainable materials. They are then transported in single or multiple sections for permanent assembly at the home location. Strict safety and construction standards are followed that often exceed those of conventionally built homes.
High Quality and Low Cost
On average, manufactured homes cost 51% less per square foot compared to traditional on site-built houses. The life-expectancy is equivalent, and high-quality is ensured by meeting firm construction requirements set by the U.S Department of Housing and Urban Development (HUD) code. In fact, there are additional safety measures put in place due to transport requirements, raising the home’s structural integrity to an even higher degree.
The building cost is significantly reduced by avoiding challenges faced by conventional on-site construction such as weather damage, schedule delays, and location restrictions. Optimized building procedures allow for these homes to be built in 20% of the time it would take for a comparable conventionally built home. Additionally, building materials are purchased in large quantities rather than a case-by-case basis, reducing the material cost per unit for the buyer.
It is well known that manufactured homes are considered a form of green building by using sustainable materials that make less of a carbon footprint. As a result of the energy efficient design, there is a notable reduction in the utilities cost and other living expenses for the home-owner.
Manufactured homes are engineered to provide a wider range of options for the buyer in terms of architecture detail, floor plan, kitchen layout, outdoor features, and more. Neighborhood based construction often encounter limitations due to on-site builder’s capability that are not relevant in the manufactured home process. Many leasing or land purchasing options are available for home placement that are not restricted to where builders have focused expansion. This allows for the future home-owner to explore many different style variations and locations that will eventually lead to his or her dream living area.
Another advantage is a very fast installation time from initial design to a sustainable living area. Additional features such as complex layouts, bathroom amenities, or upgraded patios that may normally add additional weeks or months are not factors causing delays. The buyer has the ability to scale the size of the home and essentially unlimited options to design the house in an affordable, time efficient manner.
Finance Options For Manufactured Homes
Due to the classification of manufactured homes and increased quality in recent years, loan options are expanding to meet the demand of new home buyers. Various government insured loans including HUD-backed FHA loans, Veteran Administration (VA) loans, and Rural Housing Services (RHS) loans are available in which consumer protection may be provided. A growing number of lending institutions also provide conventional financing plans through a retail installment contract, including long-term real estate mortgages.
These major elements push the demand for manufactured homes today, and are leading to a greener, affordable, and flexible market for future long-term consumer investments. Technology enhancements and growing options from financial institutions make designing the dream home a reality for any size family. Further questions about manufactured home purchasing, design, and financing, contact us