In the housing industry, manufactured homes, or mobile homes, typically receive a bad rep due to outdated information and negatively perceived stigmas about mobile homes and the people who live in them. There is a lot of misinformation out there that can be very misleading when it comes to manufactured homes. We wanted to take a second and shed some light on some of the most common myths about mobile homes and share with you why they are just that, myths!
Manufactured homes are a very affordable housing option that many Americans would be pleased to live in. As an affordable real estate housing niche, mobile homes are an under-appreciated segment in the housing industry and we believe it's because people still believe in some of these mobile home myths. Here are four common myths about mobile homes and why they are false.
Mobile homes are depicted as dull, boxy trailers on wheels that look like they came straight from the 1970s. Trust me when we say that mobile homes have come a long way in 50 years! With all the mobile home brands available in the marketplace, you can now narrow down the type of mobile home you are looking for based on your personal design styles such as ranch-style homes, cabin-style, or a modern design with vaulted ceilings.
Nowadays, mobile homes can be fully customizable with a plethora of options for interior and exterior colors, smart-panel siding, metal or non-metal roofing, and color-coordinated gutter systems to add to the curb appeal. Legacy Housing's engineer's design hundreds of different floor plans with custom design options for you to choose from. Our 12-wide Tiny Homes look completely different from our 32-wide double-wide homes and that's because those homes are designed for two different customers and their needs in a home.
We design each of our floorplans with our end customer in mind, which is why our homes are built with more standard features than our competition. People who think all manufactured homes all look the same haven't been inside a mobile home built in 2020. That's why we are proving these myths are just myths!
Let's keep going, shall we...
Prefabricated homes fall under the jurisdiction of the U.S. government and specifically the Department of Housing and Urban Development. The government and it's governing bodies regulate the construction of manufactured homes to ensure the homes fit certain safety standards. All mobile homes built from 1994 and onwards, are required by law to follow HUD code standards for construction. HUD code is the same code requirements that site-built homes have to follow when it comes to strength, durability, fire resistance, and storm/wind resistance.
Most manufactured homes are built with the same interior and exterior housing materials as traditional site-built homes and in many cases, are built using even more durable materials due to the transportation process from the factory to the final home site.
When a manufactured home is adequately taken care of by being correctly secured to the site’s foundation, they are just as safe and reliable as any site-built home. Natural disasters happen, and that’s why allocating money for home insurance for any type of home, is essential.
What differentiates something’s value comes from the supply and demand of that item. Mobile homes are bought and sold daily all across America - so the value that put on a mobile home’s worth is based on what the current buyer is willing to pay for that particular mobile home at any given time and at any given place.
Now, bear with me...
The key to building up a mobile home's value, or equity, overtime is to make sure your mobile home is securely placed on land that you own so that the mobile home becomes an original structure on your land. Just like a site-built home, your mobile home on your land builds up equity over time. Now, factors such as the location of the land, condition of the home, and demand will determine how much value the property has, but that's to be expected everywhere.
Another example of this is let's say you have land with a site-built house already on it, and you decide to add a tiny guest house on the property as well. That additional structure, secured to your own land would add to equity to your property since it's now another useful addition to the land just like a functioning garage or wide shed.
It has become increasingly easier for people to get the proper financing to own a mobile home. Back in the day, it was harder to finance older mobile homes, but now with new mobile homes being built every day, this is a thing of the past. Many mobile home dealerships not only allow you to bring financing from your own, preferred institution, but they also have their own in-house financing option for their customers.
Dealerships who carry in-house financing options normally offer an online pre-approval process for the in-house financing to make the entire process easier for you as a future customer.
And that's a wrap of some of the more common mobile home myths we have heard of! What myths have you heard about mobile homes? What do you think of newer 2020 mobile homes from the mobile homes built in the 1970s?
We want to hear from you! As always, feel free to leave your comments in the comments section below!
Original Author Omar Marquez, updated piece by Kira Hovancik