In the manufactured housing industry, manufactured homes, or mobile homes, continuously have a negative stigma placed on them due to outdated information and negatively perceived myths about the people who live in them.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. Here at Legacy, we know we build a fantastic manufactured home product at an affordable price point. But we also want to educate people about manufactured housing.
We wanted to shed some light on some of the most common manufactured home facts and why you need to know them before purchasing a mobile home. We hope this information serves you well in your home buying process! Feel free to leave us a comment or question below. We look forward to hearing from you.
Not all manufactured homes look the same, and they are even more unique when you custom build your home for your family. The sky is the limit when it comes to the layout, flooring options, countertop materials, wall-colors, and kitchen appliances.
The negative stigma surrounding manufacturing housing is that all homes look the same. This stigma originates from old mobile home parks and the vast park landscape filled with rows and rows of similar-looking homes(from their exteriors at least). The notion that all manufactured homes look the same is different today with a saturated market of mobile home manufacturers available who built very different style homes at a variety of price-points.
Most home builders will be open to customizing homes for customers since the manufacturers have all the building materials available at their disposal anyways to change up the wallboards, countertops, sink fixtures, etc.
Manufactured homes, if properly maintained, often sustain their value and appreciate at a rate similar to the traditional site-built homes. Today's manufactured homes are so well-built, they are very comparable to a site-built home and therefore, a solid investment for homebuyers. Mobile homes built today are more relatable to current site-built homes than they are to the manufactured homes built in the 1970s.
The key to building up a mobile home's value, or equity, overtime is to make sure your mobile home is securely placed on your land 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 for the land will determine how much value the property has.
This value will change over time just as the housing market changes.
HUD code regulates manufactured homes in areas such as energy efficiency, structural integrity, as well as wind resistance. Prefabricated homes fall under the jurisdiction of the U.S. government and specifically the Department of Housing and Urban Development. The government and its 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.
Most of the time, manufactured homes are securely placed on a permanent lot and are never moved during their lifespan. Manufactured home builders do not build homes to be temporary housing, although, there are certain circumstances such as natural disasters where temporary housing can be built for people who are displaced from their homes. Still, that is a rare occurrence. Manufactured home builders who have integrity, like Legacy Housing, build manufactured homes for the long term.
With advancements in exterior skirting products, setting the homes down low to the ground, and adding a car-port or garage structure on the land, most people can't even tell the difference between site-built homes and factory-built homes. We here at Legacy Housing build our manufactured homes to outlast the finance note on our homes.
Obtaining financing for a new manufactured home is not as complicated as it once was. 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 offer in-house financing options for their customers.
Dealerships that carry in-house financing options normally offer an online pre-approval process for the in-house financing to make the entire process simpler and quicker for you when you visit their dealership. Nowadays, there are so many financing options available for manufacturing homes as well as tiny homes! If you are interested in obtaining financing for a manufactured home, click here.
More homes are being placed on private land versus mobile home communities than ever before. Over 65% of new homes are being placed on private land, which means greater freedom in the future for those new homeowners with what they can do with their mobile homes. By placing your manufactured home on your private land, your home earns equity over time, as we discussed earlier in this blog.
Millennials are starting families and when they are looking for affordable housing options, manufactured homes are a great option for some! They want to buy a great home at an affordable price, and manufactured homes are built to be affordable for the end consumer. Manufactured homes come in a variety of floorplans and square footage.
Especially in rural areas, manufactured homes are very popular with new homeowners or first-time home buyers. The land is generally cheaper outside of a metropolitan area, so by obtaining land, they can choose what they would like to put on it in terms of housing options. Manufactured homes were designed to be more affordable because of the manufacturing process and building materials that go into making a mobile home compared to traditional site-built homes.
Affordable homes are being built every day by mobile home manufacturers like Legacy Housing. See our functional floorplans, family-friendly designs, and standard-features-packed homes that are built by families, for families. Learn more about why our homes are Taller, Wider, Better than the rest here on our website.
We thank you for reading this blog and hope you learned more about manufactured homes and the facts behind them.