Are Manufactured Homes a Good Investment?

For Homeowners

• Affordable

One of the most attractive aspects of selecting mobile homes is that it won’t be a burden on your wallet. A decent amount of money can turn you into a homeowner overnight and get you a place on the affordable housing market. 

Certain factors may decide the overall cost of mobile homes. These include the amenities available within the home. Moreover, the manufacturing costs of a mobile home play a great role in deciding the price. 

The more a company invests in making the home reliable and comfortable for you, the more it will charge. The price also depends upon the square feet area of the home.

Nevertheless, the cost is always less than an onsite constructed home. Each square foot of a manufactured house may start from $30, which is cheaper compared to a modular home which is often at $50 per square foot. Therefore you can get a decent manufactured home through your savings. However, you might have to find other options if you have a family.

• Multiple Funding Options 

Over time, the cost of housing has increased. It is becoming quite a challenge for people from the middle and lower classes to get their homes. Moreover, funding site-built homes is complex due to the high cost and interest rates. 

As a result, people are becoming more inclined towards manufactured housing, due to which the number of homes built each year is also increasing. In contrast, you can find several funding options to help you become a mobile home’s sole owner. These involve personal loans, but the interest rates can break your back. 

You will have to settle a mortgage if you purchase the land to place the manufactured home. The latter has a longer repayment timeline. In contrast, the former allows you to repay the amount and own the home instantly. Moreover, a personal loan can be sufficient to finance a mobile home purchase.

• Instant Availability

Manufactured homes appeal to investors and have an instant reward acquisition mentality. Unlike traditional homes, they will not require a great deal of your time, effort, and money. 

The units for manufactured housing have template house designs that they show to the customers. Once they agree, the company replicates the template and ships it. Sometimes people customize their manufactured homes and share ideas with the company. 

In such cases, it may take them a few more days to accommodate your preferences and complete the process. Certain steps in purchasing a manufactured home decide the final timeline until you get the home. Moreover, it involves order placement, construction, shipment, and installation. Therefore it may take up to a few weeks or months.

• Eco-Friendly

Manufactured homes can be an ideal step toward the environmental protection goal. According to the latest stats, construction waste is one of the leading causes of environmental damage. 

The carbon emission rates due to construction are at least 40%. These numbers are more than the ones associated with direct emissions from vehicles and aviation. 

When building their homes, most people hire professionals who know the construction details but aren’t necessarily aware of the follow-up process. The result is that these companies may not have proper waste disposal mechanisms. 

They dump a huge amount into the water bodies, contributing to various forms of pollution with a cascading effect. In the case of manufactured homes, the construction waste is comparatively lower. 

The company gets the material in bulk to build multiple manufactured homes. They carry out the process in a factory approved by the authorities. Therefore they follow the environmental code of conduct and rules which bind them to have good waste disposal options. 

These companies invest a large sum of money in raw materials. As such, they use them carefully to lower waste and maximize utility. Some companies also have green environment policies and campaigns, so when you select a manufacturer, choose wisely and ensure they align with your aim.