Advantages Of Owning A Mobile Home
Manufactured housing is an affordable option for Americans to purchase their own homes. Manufactured homes can cost an average of $62,600, compared with $272,200 for a single-family site-built home [source: U.S. Census Bureau, U.S. Census Bureau]. Manufactured homes also cost 10 to 35 percent less per square foot to build than site-built homes [source: ManufacturedHousing.org].
Control over the Building Process
who has ever built a home can tell horror stories of cost overruns, delayed
construction and snarly contractors. Such problems are foreign to the
manufactured home industry because the homes are built in factories under
strict rules and tight federal regulations. The factories build the homes on
assembly lines, which leaves little room for error. Additionally, the
manufacturing process maximizes the efficiency of workers. Moreover,
manufactured homes are built in a controlled environment that is not impacted
by bad weather, vandalism, and the potential unreliability of contractors and
Speed of Construction
Although the homeowner is responsible for the foundation, and for establishing utilities like electricity and sewage before manufactured homes arrive onsite for final construction, factories can build a typical double-wide or single-wide manufactured home in about one-third of the time it takes a contractor to construct a site-built home [source: ManufacturedHousing.org]. When the house gets to your property, it is nearly 90 percent complete, which allows you to move into your new home much faster, as well [source: Nationwide Homes]. And just because construction and set up moves at a rapid pace doesn’t mean the builders can ignore safety and building codes. In-house and third-party inspectors examine each structure before and after the home is on site [source: Modular Center].
If you haven’t figured it out yet, manufactured homes are not your granddad’s mobile homes. Some of the designs are even elaborate. Modular homes, for example, have more than one story. They have porches, garages and decks, and vaulted ceilings. And depending on the lots, homeowners can add beautiful lawns and landscaping. Builders can also customize houses to customer’s specific needs — want stainless steel appliances, hardwood floors and granite countertops? No problem. Some companies even specialize in upscale modular homes. One firm, the Modular Center, has a “Masterpiece Collection,” which features homes that range from 2,000 square feet (185.8 square meters) to more than 5,000 square feet (464.5 square meters) [source: Modular Center].
The new generations of manufactured homes are energy efficient. Factories now outfit manufactured homes with heating and cooling systems, water heaters, and high-performance windows.appliances. Builders take great care in making sure each home is tightly constructed with efficient
Wall-to-wall carpet, hardwood floors, ENERGY STARappliances, top-of-the line fixtures, 10-foot ceilings, ceramic tile. You would think your were in Derek Jeter’s McMansion in Tampa, Fla. Actually, all the amenities you can find in a site-built home can also be added to manufactured homes. The only difference is that workers install everything in the house before it reaches your property. Some manufactured homes have walk-in closets, jetted tubs and soaker bathtubs, and others come equipped with fireplaces, bay windows and gabled roofs. And it’s common for homes to have more than one bathroom outfitted with double sinks and sunken tubs.
Manufactured homes come in all shades of colors, but the most important is “green,” as in environmentally friendly. Builders of manufactured homes generally don’t waste a lot of building materials, and whatever scraps they do end up with are often recycled. Modular construction allows builders to use less material without compromising a building’s structure [source: Gorman].
Despite the trailer park stereotype, many manufactured home communities are wonderful places to hang your hat. Homeowners can rent or own the land on which their houses sit. More than 75 percent of manufactured homes are located on private property, while the remaining 25 percent are located in communities where the homeowner leases the lot [source: ManufacturedHousing.org].
Appreciate in Value
Many people believe that manufactured homes will never rise in value. In fact, some people say manufactured homes depreciate over time. A manufactured home is just like any other home. When it’s properly built and maintained, manufactured homes appreciate just like site-built homes. But, as with all housing, the value of a manufactured home depends on a variety of market factors such as:
· the local housing market
· the local community
· the initial price of the home
· the age of the home
· the overall condition of the home
· the location of the home [source: ManufacturedHousing.org]
In addition, studies have shown that manufactured housing has little impact on property values. In 1993, researchers at the University of Michigan concluded that manufactured homes did not impact property values of site-built homes in adjacent neighborhoods [source: ManufacturedHousing.org].
Many people, including Warren Buffett, one of the richest men in the world, think manufactured homes are a good investment. In 2003, Buffet and his company, Berkshire Hathaway, plunked down $1.7 billion to buy Clayton Homes Inc., a manufactured-housing company based in Knoxville, Tenn. In his annual letter to investors in 2011, Buffett said his company should serve as a model for those in the government who want to reform the nation’s housing system [source: Howley].
When you bought your last home and something went wrong, how difficult was it to get the contractor to come and fix it? Chances are it was a hassle, and the work wasn’t done in time. Manufactured homes generally come with a one-year warranty for construction and separate warranties for windows, doors, siding, faucets, appliances — you name it. Most will even provide their customers with extended warranties.
While all new homes will have a warranty, used homes might not. Ask some of these important questions before signing off on the house:
· How long does the warranty last?
· What does the warranty cover?
· What voids the warranty?
· Does the retailer, builder or installer perform the warranty work, or is it split between all parties?
· Does the warranty become void if the installation site is not properly prepared? [source: Consumer Union]
However, buyer beware: The key is to make sure you have a copy of the complete warranty and not a summary document. And be sure to keep the warranty up to date if it requires renewing.