Another advantage is the cost savings. Quality control and lower labor costs of these homes translate into serious savings when compared to on-site construction. Typically, you can save 15 to 25 percent per square foot on a manufactured home versus one built on-site.
In rural or remote areas, where it’s difficult to find good contractors and subcontractors, a manufactured home can be the best way to get the home you want with all the amenities. Plus, these homes meet all state and federal building codes, and financing is available through FHA/VA guaranteed loans and conventional 30-year mortgages.
However, like any other housing option, there are minuses and pitfalls to look out for that can cost you big time. This chapter shows you how to avoid those pitfalls and get the best deal when buying a modular, manufactured, or mobile home. In this chapter you’ll learn how to: Determine the pros and cons of the four types of manufactured homes.
Understand how to finance a manufactured home. Know how to shop for a manufactured home. Be able to find the right building lot for your home. Go about buying the necessary permits and site fees. Understand what influences the resale value of a manufactured home.