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Now that you are well on your way in your real estate search, you may be asking yourself what kind of house for sale should I buy? If you have a family, your housing options tend to be a bit limited, but one of the more underrated types of property available are manufactured homes.
Manufactured housing refer to housing units constructed and assembled in factories. This is much different than the more common site-built home, as these homes are then transported to the site where it can be used. While the term manufactured home is often used to describe mobile homes, this isn’t the case. This is because many modern day manufactured homes tend to be designed to be in place in one site for a long period of time.
While the original appeal of the manufactured home was its easy transportability, this is no longer the case. As housing demands continue to grow and as housing prices rise, many people are turning to manufactured homes as a suitable alternative. Although manufactured homes had once suffered criticism in the past, this is not the case anymore.
In previous decades, manufactured homes were often criticized for their low price value. This can be seen in how mobile home loans tended to be for less years but with a higher interest rate than traditional homes. Additionally, this poor reputation negatively affected the housing value of a manufactured home.
However, in past years, manufactured homes have had a resurgence due to its improved quality. This can be seen particularly in the increasing popularity of modular homes. While older manufactured homes tended to not meet standard building codes, modular homes and other modern manufactured homes meet these standards. As a result, value depreciation of manufactured homes have decreased substantially.
While modular home plans often differ from manufactured home plans in the way its constructed and transported to the site, once they are fully built, they are quiet indistinguishable. Due to a shift in perception and improvement in quality, the manufactured home is finally becoming accepted in the real estate market. They tend to be comparable to traditional houses and are becoming a more promising real estate investment. Additionally, they are now treated like traditional houses by insurers and lenders, which bodes well for this type of property’s future.
As custom modular homes become more popular and as building and transportation methods continue to improve, there is no reason for you to shy away from the manufactured home. Modular Home Manufacturers and custom manufactured homes are popping up throughout the country. So if you are searching for a great place to live that is a little bit cheaper than a traditional home, you should consider looking for a manufactured home for sale.