Blog Entry

Manufactured homes provide quality housing and an opportunity for home-ownership. They often cost less than renting, and can offer more square footage and distance from neighbors than an apartment.  The cost per square foot for a new manufactured home can be up to 50 percent less than the cost of a comparable site-built home, excluding land costs.

Taken from~ Manufactured Housing Institute

Manufactured housing is one of the most affordable homeownership options available and is one potential solution to the nation’s affordable housing crisis. The per square foot cost of producing a manufactured home is less than half the cost of constructing comparable stick-built, single-family detached homes because of greater supply-chain flexibility, regulatory consistency, and lower on-site labor costs. This puts manufactured-housing developers in a position to close local affordable housing gaps more quickly than traditional home builders, yet planners often underestimate manufactured housing’s potential for alleviating affordable housing supply shortages.

Taken from~ Housing Matters

There are two main ways to finance the purchase of a manufactured home. Conventional mortgages are available to qualified buyers who purchase their manufactured home along with a parcel of land. Chattel loans, or personal property loans, are available for homes located on land the buyer doesn’t own, such as a manufactured home community, or when only the home is being financed and not the land.

Taken from~ Manufactured Housing Institute

Buying a home is often the biggest investment most people will make. It is critical to know what you can afford, what your needs are, and how your decisions will affect you – not just now, but in the years ahead as the housing market changes.

The same factors that determine the value of a site-built home determine the value of a manufactured home: the location, the local market conditions and the quality of the home and the amenities.

One of the major advantages of manufactured homeownership is the chance to build equity, but at a lower cost than site-built homes. Renters pay rent each month with every dollar going to the landlord.

Taken from~ Manufactured Housing Institute