Have you been thinking about buying a manufactured home, but you’re not sure if it’s right for you? Or worse -if they’re worth it?
Maybe I can help with your decision.
Today’s manufactured homes are much different than the mobile and manufactured homes built in the 60s, 70s and 80s. Construction materials are the same type and quality of traditional “stick-built” or “site-built” homes. The benefit is that construction cost, when building new, are 10-35% less than traditional stick and site-built homes and construction is completed quicker than site-built homes, as weather and other volatile elements are not a factor. Since manufactured homes are built indoors, their construction is professionally supervised and adhere to high quality control standards and construction materials are protected from weather and vandalism. HUD Code sets strict standards for heating, plumbing, air conditioning, thermal and electrical systems, structural design, energy efficiency and fire safety.
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Unlike the mobile homes of the past, over 90% of manufactured homes will not be moved after initial delivery. Modern manufactured homes are virtually indistinguishable from traditional site or stick-built homes. Outside, you will likely find quality siding, porches, decks or patios and upgraded roofing options. Inside, you will find a wide range of floorplans, upgrades and unexpected amenities like whirlpool tubs, fireplaces, skylights, walk in closets and cathedral ceilings. These homes appreciate in value just like other types of housing.
According to major insurance companies’ recent reports, manufactured homes have less than half the chance of being involved in a fire than a traditional stick-built home, and are constructed to withstand heavy winds and inclement weather better than their more conventional counterparts. On October 24, 1994 a new minimum energy conversation standard became effective. The new energy standards are resulting in lower monthly energy bills, a factor industry officials say will enhance the affordability of manufactured housing and, perhaps, improve mortgage underwriting terms. Improved home ventilation standards have also been adopted in conjunction with the energy standards, a step that will improve indoor air quality and condensation control in manufactured homes. These efforts are ensuring that manufactured homes remain affordable, not only in start-up costs, but for the life of the home. Currently, the average lifespan of a modern built manufactured home is nearly 60 years with routine maintenance and upkeep.
Financing for manufactured homes is available through many sources. These homes do not, usually, carry a traditional mortgage; rather, they typically hold a retail installment loan. Requirements for these types of loans can often be less strict and more forgiving of past credit mistakes than a traditional mortgage. VA, HUD and FHA loans are still available in some areas. Monthly payments tend to be more manageable for buyers living on a budget or fixed income. Though most manufactured home communities have a monthly lot rent, this amount plus your monthly payment are usually less than, or comparable to, rent of a similar sized single family home. Additionally, in some areas, lot rent includes things like water/sewer and trash service, cable television, common insurance, use of a community building, neighborhood pools or parks, road and sidewalk maintenance or landscaping.
With any major decision, there are pros and cons to consider. If you’re contemplating buying a manufactured home, rest assured that you are getting a great value for your dollar. Be sure to research the neighborhoods you are searching and what is required as far as application fees, lot rent, community rules and expectations. This is often a great alternative to renting someone else’s home and you might find that your monthly expenses are less than what you’ve been paying.
Almost done. One last thing and then I’m out. I owe centrum solutions a huge thanks for the help they provided me in getting this post together. You can visit their site at http://centrumsolutions.ca if you have been looking for the services of a trustworthy furnace repair service in Coquitlam. Ok, that covers everything. Have a great night everyone!
Post Resources
http://burlingtonpcs.com – An amazing website.
http://concept-marketing.com/ – A very good company.
