Buying any kind of home can be a joyous and fulfilling occasion, but it’s also a big decision. In the world of real estate, it’s always important to think about your reasons for making a move on a property and weigh them carefully.
Should I Buy a Manufactured Home?
Maybe you’ve heard about manufactured homes and wondered whether or not you should commit to purchasing one. So, what do manufactured homes have to offer the discerning homebuyer?
As you’ll see, there’s quite a lot of upside to a manufactured home. Whether you’re actively searching for your next home or browsing for the right opportunity, here are six reasons why manufactured homes are worth a serious look for home buyers.
1. Manufactured homes are safe and pleasant places to live.
Today, when you buy a HUD-approved manufactured home, you can rest assured that it’s built to last. Since the manufactured home HUD code was introduced in 1976, all new manufactured homes are built to a rigorous set of federal standards. The HUD code is actually the only federally administered building code, and what’s more, homebuyers can track the history of any HUD-approved manufactured home through its HUD tag.
Newer manufactured homes also often include many of today’s must-have home luxuries and design features. You will often find homes with hardwood floors, granite countertops, open floor plans and much more. They come in a variety of sizes–from single-wide to multi-section homes–and they’re built for individuals and families to make memories and live life in.
2. Manufactured homes can save home buyers a lot of money.
If you love a good deal (and who doesn’t?), buying a manufactured home can be a great choice. The average cost of a manufactured or mobile home is well below that of a stick-built home, making manufactured homes a more accessible and affordable housing option for many home buyers.
Many real estate experts agree that becoming a homeowner is an important step toward prosperity. Rather than giving your hard-earned money to a landlord each month, you’ll have a place to call your own (and one that you can build equity in much like site-built homes). Manufactured homes offer a cost-effective way to own your home and begin building for the future.
3. Manufactured homes are investments that will hold their value.
The myth that manufactured homes cannot appreciate is just that—a myth. In fact, so long as they are maintained, manufactured homes retain their value approximately as well as stick-built homes do.
Another factor to consider: Regardless of the value of your mobile home, owning the land on which your manufactured home sits is an excellent investment. Whatever you decide to do with that land in the future, it’s yours to keep, and a plot of land is never a bad asset to have.
4. Manufactured homes have financing options available.
It can be easier than you’d expect to get financing for a manufactured home. For those planning to buy manufactured homes with land and place their homes on permanent foundations, numerous manufactured home financing options are available. Government-assisted loans for manufactured homes are widely available, including:
- FHA-insured loans
- VA loans for veterans
- USDA Rural Development loans
- Fannie Mae and Freddie Mac loans
Those buying a manufactured home without land, meanwhile, should look into options such as chattel loans.
5. Manufactured homes are an excellent choice for all stages of life.
For single folks or those just beginning their journey as a family, manufactured homes make excellent starter homes because of their low cost and the many options available. Joining the right manufactured home community can be a great way for younger people to make friends and meet other families.
However, manufactured homes can be equally great for seniors who are retired or nearing retirement. Many folks want to live smaller and more efficiently as they age, and manufactured homes are ideal for right-sized living. Numerous senior mobile home parks are also available in popular retirement locations like Florida or Arizona.
6. MHVillage makes it easy to find your ideal manufactured home.
MHVillage provides both the wide selection and the up-to-date information that manufactured home buyers need to make informed decisions and select a great manufactured home. Get started by browsing our manufactured home listings with tens of thousands of manufactured homes for sale, or check out our Manufactured Home Buyer’s Guide for key insider tips on finding the right home.