If the idea of living for less appeals to you, the manufactured housing may be the best for you. You will find that you will spend less to purchase a manufactured home as opposed to going for the traditional one. You will however have a hard time accessing the financing for the purchase that you are planning to make. In addition, your house can experience depreciation of its value after sometime. This article aims at outlining the pros and cons of manufactured home so that you can make an informed decision.
One of the factors that leads a lot of buying choosing manufactured homes is their affordability. Since the units are mass produced the overall cost of assembly is lower. Finding lenders for your planned purchase is not easy. The condition that you need to fulfil to get the financing is to give your home a permanent appearance through attaching it to the basement or concrete. The downside of this is that you will incur more costs.
You will have the chance to access luxurious living at a much lower cost. The low base price of the home will enable you to add to the house. The disadvantage that you will face in this instance is that you will be limited when in terms of the design and layout. If you are interested in a housing option that will give you room for customization you will be better off avoiding the manufactured variety.
A manufactured house requires you to get a location where you will place it. This is a big challenge to you considering that a lot of areas have scarce land. Even in case where you manage to find the land, the prices are normally prohibitive. It will not make any financial sense to buy the land as it will defeat the purpose of the manufactured home as you learn more.
People are motivated to go for the manufactured home option since they consider them versatile and of high quality. As well you will have the advantage of improved functionality and aesthetics because of the numerous features and customization.
The fact that prefabricated materials are used in the construction of the manufactured homes, the structure is friendly to the ecosystem. As well you will have less waste resulting from the construction.
Since the manufactured homes come with specified features you may have little room to make modifications or customization. Additionally you are limited in terms of the amenities that you can put in the house.
You will be faced with low resale value when you plan to dispose the manufactured home. Additionally, it is not easy finding a willing buyer for your property. It will be hard for your home to compete effectively in the property market in comparison to other properties as the page suggests.