What are the advantages and disadvantages to buying a manufactured home?
Answers:
Well, I can name a disadvantage and it's a big one! The houses, and I'm sorry but I don't care how "good" the salespeople say the manufacturer is, tends to fall apart in a relatively short period of time. I hate to sound negative but I've had a mobile home and I know how poorly made they're are and how hard they are to sell.
They are cheaper than a regular house to be sure but I'm sure you've heard this saying; You get what you pay for.
Other answers:
1 advantage is they're affordable. 1 disadvantage, and I could be wrong, but I think they tend to depreciate rather than appreciate like a house would.
But they make some pretty nice ones anymore, some even have 2x6's in the walls to allow for more insulation.
1 advantage is they're affordable. 1 disadvantage, and I could be wrong, but I think they tend to depreciate rather than appreciate like a house would.
But they make some pretty nice ones anymore, some even have 2x6's in the walls to allow for more insulation.
speed in installation, a disadvantage may be in local codes
Advantages:
Assembled in ideal conditions (inside).
Usually pretty square.
A little elbow grease for a homeowner to finish up.
Cost ( a bit cheaper)
Time
Disadvantages:
Gets roughed on the ride to your location.
Missing parts.
The crane can drop it!
all disadvantages,,they are usually very poorly built,,trust me,,i used to build them ! their way,not mine!!
manufactured homes are more like a trailer house and most have steel beems that run under the house just like a trailer and they are cheaply built not of the but most.if you are thinking of buying one these do your homework and research on witch ones are better built.......one the other hand a modular home is built more like a house and better built with better materials.
If you are considering a "manufactured home" glorified double wid trailer, don't do it, we made that mistake ONCE.
You are better off to check out pre-fab or modular homes, cost a little more, still cheaper than on site building from the ground up.
As far as the double wides go underneath all the toppings they are junk, we had nothing but headaches, roof leaks,water leaks, and a fire, one of the ceiling exhaust fans in one bathroom caught on fire... so think twice.
Advantages: Cheap price for housing if you buy an older one
Disadvantages: Unbelievably MANY!
1. Fire Hazards--more fire related deaths attributed to manufactured homes than traditional home structures.
2. Inferior Products--more repairs and replacement costs and often incurred by the population that can least afford them.
3. No Appreciating Value to your money--most homes appreciate (go up) in value, whereas a manufactured home depreciates in value--no exceptions. So, like a car, when you are still paying a mortgage on it in say, 10 years--it will be worth zippo or $00.00
4. Good interest rate loans are unavailable
5. Less stable neighborhoods--these homes are most often found in lower quality areas. If not, they will be within a few years.
6. Unpredictable neighbors--they attract more transient and renter profile "neighbors" than a traditional home areas
7. Tornado traps--ever notice these are always the first to be flattened and become a heap of trash? This is where the accompanying term "Trailer Trash" first originated.
and FINALLY,
get an accountant to help you look at the actual costs of a Manuf. home vs. a traditional home. You will be shocked to find that traditional homes will cost you less by the time you deduct your interest credits and other perks from Uncle Sam.