Manufactured homes of today are nothing like the mobile homes of old. In fact, there are some definite advantages to buying a manufactured home over a traditional-built home.
- They’re usually cheaper to buy than standard-built homes. Data from the Manufactured Housing Institute shows the price of a site-built home is about US $352K/CA $478K, while the average price for a manufactured home is US $107K/CA $145K. If you’re not building, then buying an existing manufactured home in a park or on owned land is even cheaper.
- Newer manufactured homes are often built to high safety and energy-efficiency standards and are better for the environment. They also are constructed to have better soundproofing between rooms than basic standard-built homes. In other words, today’s manufactured homes are well-built.
- If you’re buying land and installing a home, then a manufactured home can be placed and finished in months or even weeks, compared to 6 months or more for a standard-built home.
- They can be remodeled, just like traditional-built homes, depending on the building codes of the area.
Financing a manufactured home is different than financing a traditional-built home, though often the terms are comparable. For information about financing a manufactured home, contact me to get referrals to lenders who can help with that.