The discussion on where you might call “home” will always be one of the most important things to discuss in adult life. There are many options for this. You have apartments, condominiums, tiny homes, your own brand new house, and of course, less popularly, you have trailers.
Don’t get things wrong though. Trailers are indeed manufactured homes and vice versa, but the modern iteration does without the boxy, rust bucket look that people have come to associate trailers with (to the detriment of trailers too).
But you’ll be pleasantly surprised at how the “trailer” has evolved in the past 50 years. In fact, you could quite possibly drive by one without knowing it is one. The modern iteration might come with a garage, a pitched roof, and a porch. All these things which we do not associate with trailers.
So, why exactly would people want to opt for Manufactured Homes?
The average manufactured home costs about $100,000 less than a home that’s built on-site, even when you factor in the actual cost of the lot. One common misconception about manufactured homes is that they are less expensive because they are of inferior quality.
The true reason that they’re so affordable is that they simply cost less to build. They are built in controlled environments and their materials are also purchased in large quantities. Apart from this, they aren’t subject to weather damage (which causes on-site home prices to soar).
Manufactured homes undergo consistent inspection through the course of their construction. Furthermore, several federal laws require that they come installed with escape windows and smoke detectors, and they even impose a limit of the amount of combustible materials that can be placed near heat sources. They are just as safe, if not safer, than houses that are built on-site.
They’re Energy Efficient
Well, they can be. With the lower asking price, you’re going to have a lot of leeway to purchase a plethora of energy-saving features, whether they come in the form of solar panels, auto shut off lights, water-saving fixtures, and more. If you so choose, you can have a wide variety of extra amenities installed in your mobile home as well.
You can even expect it as manufactured homes often come with the latest technology and materials in the home manufacturing industry. You can even opt to go for the smart home route, which, isn’t just a gimmick, it’s the future.
Mobile Home Loans Are More Attainable
Despite being significantly less expensive than on-site houses, manufactured homes are still a big investment to make. The good thing about manufactured homes though, is that their construction strictly adheres to safety standards. This strict adherence makes lenders more comfortable in loaning money because they know that they aren’t going to get the short end of the stick on such a transaction.
Furthermore, there are a wide variety of mobile home financing options. These include FHA loans, USDA loans, and VA loans.
As you can see, you’re definitely going to get a good deal when you buy a manufactured home. The reason that keeps a lot of people from doing so is the stigma that mobile homes are much like their descendants - the trailer house -- which is clearly not the case here.