Manufactured homes are more affordable than homes that are constructed on site. For less money you can get a bigger home with larger rooms. The cost of manufactured homes is roughly 35 to 40 percent less than on sit construction of a similarly designed building. Manufactured home values give many mortgage lenders pause, however. Special financing products are often necessary for the purchase of a manufactured home.
Commonly referred to as mobile homes, the term “manufactured home” has been in use since 1976. They are less expensive alternatives to traditional construction. When people consider purchasing a manufactured home cost is definitely a major factor. Manufactured home pricing also takes into account that purchasing these homes is not an investment. While the real estate on which the home is located can appreciate, the value of the home will actually depreciate more like an automobile. They are made of lighter materials and are built in a factory to be subsequently delivered to the home site. Manufactured home prices vary depending on the size, materials, and the options included in the home.
Manufactured home prices buy a lot more than they used too. Many of these homes now have specially designed floor plans. These plans can include French doors, island kitchens, cathedral ceilings, walk-in closets, and spa amenities in the master bathroom. Modern manufactured homes are easier to assemble as well, especially when compared to traditional homes.
New Manufactured Home Prices
In 2007, new manufactured home prices ran from $37,100 for a typical single-wide model to $73,600 for a double wide home. This cost does not include the price of the land. The lowest prices can be found in the Midwest, while the highest prices are in the Western U.S. The cost of manufactured homes can be reduced when they are set up in parks or developments. These mobile home parks are designed to accommodate a number of these homes in a neighborhood environment. Mobile home owners are charged a fee or lot rental ranging from $100 to $800 or higher depending on the community’s location and amenities.
Other homes are set on foundations on private property. These lots are often more secluded than suburban neighborhoods, and larger as well. Manufactured home cost on a private lot might need to include the installation of a foundation, decking, landscaping, utilities, and either connection to a municipal sewer system or a septic system.
Used Manufactured Home Prices
Used single-wide mobile homes do not hold their value as well as used double-wide or even triple-wide manufactured homes. Manufactured home pricing can be next to nothing in some situations where the owner wants to simply walk away and be free of the monthly lot rental. Depending on location, age, size, and amenities, prices for used manufactured home prices can range from a low of $10,000 to a high of $250,000. The NADA publishes guides concerning maintaining the value of manufactured housing. The homes that retain the most value are those where the homeowner remained on a disciplined maintenance schedule. Everything from weeding around the foundation to changing the air filters can have an effect on the home’s value at resale.
Cost Variation According To Type
Custom Manufactured Homes
Custom manufactured homes are growing in popularity as manufacturers try to replicate the ambiance of a traditional home. These homes are being designed with options that many who own traditional construction homes cannot afford. Some of these amenities include wet bars, whirlpool tubs, fire places, and island kitchens. You can walk into a custom home designed by a company like Palm Harbor Homes and forget that you are in a manufactured home. The decreased cost of manufactured homes also allows home buyers to consider furnishings and appliances they otherwise would not have been able to afford. These companies usually offer predesigned floor plans that can be adapted to suit the tastes of individual home buyers.
Two Story Manufactured Homes
Two story manufactured homes come in single wide, double wide, or single on top of double wide designs. They are delivered in similar fashion to single story models, but use a crane on site to set the top story on to the bottom story in much the same way a modular home is built. HUD code requires a permanent chassis on each story, but no wheels, axles, or hitches are required. The chassis is made from steel I-beams that support the floor system from underneath. Some of these homes are built two stories high at the factory and then moved to the site. This can add the cost of a special transportation permit to the manufactured home cost.
Small Manufactured Homes
Small manufactured homes are the most popular because of lower manufactured home prices. The cost of manufactured homes that are smaller is lowered by the reduction in transportation costs for the smaller models. Some companies specialize solely in these smaller homes, allowing them to lower the cost of manufactures homes even further. They are still packed with amenities that would make a traditional home owner jealous. The designs are easier to draw and the structures are easier to build, further lowering the cost of manufactured homes. One drawback is that the smaller homes do not hold value as well as larger homes.
Modular Homes vs. Manufactured Homes
Modular homes are constructed on an assembly line in large sections with doors, windows, cabinets, and other features pre-installed. These sections are transported to the home site and fastened together. Although similar to manufactured homes an upscale modular homes can be customized to any style and can be two stories or higher.
Cheap Manufactured Homes
Cheap manufactured homes are a dangerous investment. Although inexpensive, they do not hold value. Unless they are feverishly maintained, they degrade physically very quickly. With the amazing values and plans available, cheap homes are not necessary. You can get much more than you though you could afford if you stay with the best dealers in your area.
Manufactured Home Dealers
Due the rise in popularity in manufactured homes as well as low manufactured home prices, there are more dealers than ever offering more options that previously imaginable. Custom designers like Palm Harbor Homes are offering stunning custom designs for almost half the ice of a similarly designed traditional home. All American Homes is another dealer that offers a wide variety of floor plans at affordable prices.