For people who may be cash-strapped or dealing with liabilities like student loans, buying a manufactured home is the dream for them. It’s little wonder buying a manufactured home captivates the minds of many. It’s cheap (relative to modular homes), customizable, and doesn’t require much maintenance. Buying a manufactured home equates to buying a bigger house at the cost of a typical single-family house. With the pros and cons, it helps to understand what a manufactured home is. Manufactured homes are constructed in the factory, then brought over to the building site. They are usually tagged with a Housing and Urban Development (HUD) code and resemble contemporary counterparts of the mobile home. Buying a manufactured home in your preferred community is a big decision and we offer a guide for people looking for that nice, cozy manufactured home.

Design Matters

When you’re buying a manufactured home, it is crucial to understand the design you want. The good news is that while manufactured homes are prefabricated homes, you are entitled to some level of design choices when buying a manufactured home. Think open kitchen with kitchen islands, cozy, and spacious rooms for the most restful environment. The key is to research to ensure you know what design works best for you.

Land Considerations

It’s intuitive to everyone that to build a home, you need land. When you’re buying a manufactured home, it’s important to have the right kind of land for your house. Leased land works when you are looking to buy a manufactured home. This is important as the home manufacturers do not sell the land. One way is to buy land before placing your manufactured homes. While this may mean a higher initial cash outlay with necessary research into zoning regulations and local deed restrictions, you can get lower interest rates while getting a traditional mortgage. In addition, you are protected from the drop in value of your manufactured home when you own the land. This means that a substantial value can be pegged to your manufactured home when the land’s value appreciates. In general, any residential zone works when you’re buying a manufactured home if the lot width, lot depth, and lot area are kept by regulation. If in doubt, you can look for a local building professional to source out a potential lot for your manufactured home.

Manufactured Home Financing

For people who have bought townhomes or single-family homes, financing a manufactured home works differently from the rest. Your local banks or lenders will likely see your manufactured home as personal property instead of real estate. The good news is that contemporary manufactured homes are usually built with quality compared to the past. This means that government-insured loans are potential financing options if you’re looking to buy a manufactured home.

Cost Of Manufactured Homes

It’s imperative to remember that the basic home price is not the only expense to take note of. There are other costs, such as patios, steps and so on. In addition, the cost of home transportation and assembly needs to be considered too. 

If you’re buying a manufactured home, we offer affordable homes for the best quality living experience at Cambio Communities. Contact us to find out more!