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| *Ostroff, Fair and Company>>>Renting & Real Estate |
What are the pros and cons of purchasing a manufactured home? |
What are the pros and cons of purchasing a manufactured home? Pros: Manufactured homes built after mid-1975 are better-built than comparable stick-built construction; for there is much more oversite during the building process than municipalities require. Plus, you get far more value per sq.ft. Cons: Though it is slowly changing, there is still a stigma attached by some very vane and uneducated brokers, and banking loan officers; so selling it, and getting a good rate, may require a little more persistance on your part. Source(s): 20+ years in residential development Pro - it's generally faster than a stick-built home, it's generally better constructed. Cons - it has to be transported to your property, so things could get out of shape in the transit. You usually have to settle for whatever is the companies standard product, although you can make some substitutions. There is still a stigma attached with a manufactured home to some people. Pros: they are cheap. Cons: they are cheap. Much like an automobile.. a "manufactured home" decreases in value and in time are hard to find insurance for. Many companies won't insure them. I would only do it if it was all I could afford. (it's hard to find financing and it won't appreciate) You might want to consider modular homes over manufactured. They are slightly higher in price- but they are treated as"normal" homes as far as lending goes. They are generally better constructed and have lowever ownership costs- gas, electric, etc... They will appreciate in value as opposed to decreasing in value as well. |
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