The average cost per square foot for a manufactured home is around $55, much less than the cost for stick-built homes. As a result, these houses are popular, as they offer a more affordable way to own a home.
Are you considering buying a house? If so, have you evaluated manufactured homes? These homes are much nicer today than they were in the past and offer many benefits.
Before you buy one, you should learn a few crucial things. So keep reading to learn five vital things about manufactured homes.
1. They’re More Affordable
A prefab home is an affordable home, and you can see this by comparing the costs per square foot. For example, a manufactured home costs around $55 per square foot, while stick-built homes cost at least $114 per square foot.
Therefore, people purchase manufactured homes for their value. They cost less yet offer a way to own a home with a smaller investment.
2. You Can’t Put Them in All Neighborhoods
Next, you should know there are placement restrictions with manufactured homes. Of course, you’re free to put them in mobile home parks, as that’s all you’ll find in these neighborhoods.
However, you might not be able to put them in other subdivisions. This is because most subdivisions have rules about the houses people build, and most don’t allow manufactured homes.
But you can place a manufactured home on a private property you own. Therefore, you should evaluate your desired location before buying one.
3. They Require Foundations
Manufactured homes are high-quality homes built to order. When you order one, you’ll need to prepare the land for the home. The primary thing you’ll need is a foundation.
A foundation secures the home in place permanently. You can choose a crawlspace, slab, or basement foundation for the house, but you must complete this before the home arrives.
4. Lenders View Manufactured Homes Differently
If you’re like most people, you’ll need a loan to buy a manufactured house. So it’s vital to know that you might not be able to get a loan the traditional way. After all, some lenders don’t issue loans for manufactured homes.
Instead of going through a traditional lender, search for lenders that offer manufactured home loans. These lenders will issue loans for these homes.
5. You Can Customize Them
Finally, buying a manufactured home is similar to building a home. First, you get to pick the house plans for the home you purchase. Next, you get to choose the features.
You can choose everything from the paint colors to the flooring. You’ll also have choices about light fixtures and plumbing fixtures.
Your home will be custom-made to the specs you choose, making it a unique house.
Compare Stick-Built Homes to Manufactured Homes
Owning a home provides security and freedom. If you want to own a home, compare manufactured homes to stick-built homes to find the right option for your budget and situation.
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