Should You Buy a New or Pre-owned Manufactured Home?

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Home buying can often be overwhelming. There are lots of decisions that have to be made in order to find your dream home. City or country, site built or manufactured, ranch or multi-level, brick or vinyl siding, “what is our budget?”, the list goes on and on.

It’s no secret that prefabricated housing is becoming an increasingly popular choice for affordable housing, on average costing around $70,600 without land, which is about $216,214 less than if you were to purchase a site built home*.1 At Clayton, we offer hundreds of options for quality built, affordable homes for people in every season of life.

Once you’ve made the decision to purchase a Clayton Built® home, there are lots of things to consider next – one being whether you should buy your home new or used. Below you’ll find some of the perks of buying either a new or pre-owned home!

*Average cost of prefabricated home does not include land.

 

Benefits of buying a NEW home:

  • Customization: Buying new gives you the opportunity to decide what features and styles you want for your home.
  • Energy Efficient Upgrades: Buying a new home gives you the opportunity to upgrade with energy efficient features, such as Low-E windows, and energy efficient appliances that can help you save money on utility bills.
  • A hand in the process: Purchasing a new Clayton Built® home allows you to really see what it takes for your home to come together. From your first home center visit, to production and walk-through, to site delivery and set up, you get to see it all!
  • Limited Home Warranty: Buying a new home from Clayton gives you the ability to benefit from our one-year limited warranty that covers items such as defects that can cause structural or safety issues that occur within the first year of ownership and are due to flaws that occurred during the home building process.
  • Less maintenance: Purchasing a new home, you’re less likely to encounter any big repairs right away. With an older home, more frequent upkeep and repairs are common.

Buying a New Home

Benefits of buying a PRE-OWNED home:

  • Budget friendly: Purchasing a pre-owned home is often a little easier on the wallet! You’re more likely to find lower priced homes when you’re looking in the pre-owned category.
  • It might already be on a piece of land: When looking for a pre-owned prefabricated home, you may be able to find one that is already on a piece of land, just like you would if you were purchasing a site built home!
  • Fewer hoops to jump through: With a pre-owned home, the house is already built and the process may not be as extensive. Once you get approved for financing, you can jump right in to purchasing your home!

What about trade-ins?

When deciding to purchase a new Clayton Built® home, you might be thinking “what do I do with my current manufactured home?”

Trade-in programs for your manufactured home can be found across the country at retail home centers.
Your home is given a NADA value, like the one you’d get for trading in a car, which will give you an idea of how much your home is worth.

Once you have this value, the home center could do one of three things*:

-Take the home off your hands at no cost or benefit to you
-Apply the trade-in value to the deposit on your new home
-Apply the trade-in value to reduce the overall price of your new home

*The three options above represent the most common trade-in options; however, trade-in options will vary by individual home center. Talk to your local home center consultant about what options are available in your specific area, and to get a clear understanding of the entire trade-in process.

Buying a New Home

So, what’s best for me?

Now, it’s time to make your decision. Weigh your options and take into consideration your budget, season of life and your needs and desires for your home. Whether you decide to purchase new or pre-owned, we’ll help you find your Clayton Built® dream home.

12017 Manufactured Housing Facts. PDF. Manufactured Housing Institute, March 2018. https://www.manufacturedhousing.org/wp-content/uploads/2017/10/2017-MHI-Quick-Facts.pdf.