When buying a home, there are many factors that you need to take into consideration. Whether you want something small and cozy or an expansive property with lots of lands, there are many options for you. When looking at a manufactured home, it’s essential to know what they offer and how they differ from stick-built homes. Here are some pros and cons of manufactured homes:
They are less expensive upfront.
The most significant benefit of manufactured homes is their affordability. Because they are built in a factory and then shipped to the site, they can be constructed much faster and more efficiently than site-built homes. This means fewer labor costs for you, which translates into savings on your final purchase price.
But there are some tradeoffs involved with this advantage: You will have to pay for the land separately and your home’s foundation (if you want one). If you plan on building your home or hiring an individual contractor who doesn’t have all his equipment set up yet, consider renting these items until you’re ready to start building permanently.
Manufactured homes can be sturdier than stick-built homes.
Manufactured homes are constructed in a factory, built with more precision and quality materials. That means they’re more substantial than stick-built homes constructed at the building site.
Manufactured homes are also designed to be more energy efficient—a feature that can help you save money on your monthly utility bills. In fact, according to the U.S. Department of Energy, owners of mobile homes spend about half as much on energy each month compared to homeowners living in “stick-built” houses (or non-mobile homes).
In addition to being sturdier and more cost-effective than stick-built houses, manufactured homes last longer, too: many models can last for decades without repairs or replacement!
You’ll often have more aesthetic options for your manufactured home.
- You’ll often have more aesthetic options for your manufactured home.
- Manufactured homes are built to meet the homeowner’s needs, so you can choose colors, flooring, cabinets, and appliances that are right for your lifestyle. Before building a home, the manufacturer will also consider climate control requirements. This means that they’re less likely to leave out essential features like ductwork or insulation than with an off-the-shelf model.
They typically come with a warranty program.
When you purchase a manufactured home, it typically comes with a warranty program. A warranty is essentially an insurance policy for your home, and it’s designed to protect you from defects in your manufactured home that could cause damage or injury over time.
A warranty typically lasts ten years and covers all house’s structural elements (including frames, walls, roofs, and porches). The only things it doesn’t cover are appliances and electrical systems (but some companies do offer additional coverage for these).
The warranty cost varies depending on the length of coverage you choose but generally ranges between $1,000-$2,500.
They can be moved!
The most apparent advantage of a manufactured home is that it can be moved from one location to another. On the other hand, the average stick-built home has to be completely disassembled before moving—it’s not something you can move with a forklift. If you’re looking to relocate your manufactured home or expand your living space by adding another unit to your property, this makes it much easier than building an entirely new house from scratch!
A manufactured home is easier to customize.
There are many reasons why you might want to customize your manufactured home. You can change the layout of the home, for example. You can also change the exterior of your manufactured home—for example, by changing its paint color or installing different siding. This is especially important if you live where tornadoes or hurricanes are common.
You can even change the floor plan of your manufactured home—for example, by adding an extra bedroom and bathroom or removing a few walls that don’t work well with your family’s needs. This can be especially useful if you’re renting temporary housing while looking for a place to buy (or don’t have enough space).
Your financing options are different.
For the most part, manufactured homes are financed differently than site-built homes. According to the U.S. Census Bureau, over 80% of manufactured homeowners use a mortgage to finance their purchases. But unlike conventional mortgages (where you pay your house off over 30 years), a manufactured home is paid off after seven years in a balloon payment—the amount you owe on your loan will be due all at once at the end of that seventh year.
In addition to having different financing options than site-built homes, manufactured homes also require additional down payments: anywhere from $0–5,000 dollars depending on where you live and whether or not there’s an association involved in your purchase. The good news is that because these down payments tend to be lower than their site-built counterparts, many buyers can get into their dream homes for less money!
You’ll usually have to buy a plot of land separately from the price of your home.
You’ll have to pay for both if you buy a lot and then build your manufactured home on it. The cost of the lot can vary depending on many factors, but it’s typically somewhere between $4,000 and $20,000 per acre (an acre is 43,560 square feet). If you’re shopping for land near a metropolitan area like New York City or San Francisco—where real estate prices are absurdly high—you could end up paying more than half a million dollars to own your little patch of dirt.
However! If renting is more, your speed and budget allow for it—or if you’d prefer not having to worry about clearing out any trees or hosting backyard barbecues in your living room every weekend—there’s still hope! Some people rent lots instead of buying them outright; others will lease their homes rather than stick around long enough to pay their mortgage in full. Either way works great…as long as there aren’t any cockroaches or bedbugs involved!
It’s challenging to change the design of your manufactured home after it’s built.
While manufactured homes have many benefits, there are some drawbacks to consider. One of the most significant drawbacks is that it’s challenging to change the design of your manufactured home after it’s built. These homes are generally not designed to be easily modified, so you might need to pay extra for modifications and hire a contractor to do the work.
If you want something close in price and size but with more customization options than built-on-site modular homes offer, a mobile home may be right for you!
Before buying a manufactured home, research and ensure you know what you’re getting into!
Before you decide to buy a manufactured home, do your research. You’ll want to make sure that you understand the following things:
- What type of home do you want? Do you want a single-wide or double-wide? How many bedrooms and bathrooms does it have? How big is it? If any special features are important to you (such as luxurious finishes or environmentally friendly components), make sure those are available in the homes that interest you.
- What state laws apply (if any)? States regulate manufactured homes differently, so if you’re moving across state lines with one of these homes, check with your current state’s regulations and any new states’ rules.
- The warranty on the home’s major components (the structure itself). Depending on how long the house was built, this could range anywhere from 10 years for newer models up to 40 years for older ones! The lengthier warranties don’t necessarily mean better quality—they mean companies think their products will last longer than others. Most people agree that 20 years should be more than enough time for most component failures even if they purchase a house with less generous coverage periods than those mentioned above; however, it all depends on how much money one wants to be saved before buying anything else over time.”
In conclusion, buying a manufactured home has many advantages and disadvantages. It’s essential to research and weighs the pros and cons before making a decision. It would be best to consider what lifestyle you want because different housing types offer different experiences.