Is it Worth Investing in a Manufactured Home?

Manufactured homes are becoming more and more popular in the US because they are the answer for millions of Americans who have sought to get away from fixed housing. As manufactured homes continue to pop up in gorgeous areas around the country, it raises many questions surrounding the main question: are manufactured homes a good investment? Are mobile homes worth it, when you consider the rising sales and lower costs they offer compared to traditional housing? Is buying a manufactured home vs. a traditional house a good idea? Your home is likely the most important investment you will make, so why buy a manufactured home? Let’s consider the reasons why buying a mobile home could be right for you.

What Exactly is a Manufactured Home?

“Exactly what is a manufactured home,” you may be thinking? In a nutshell, manufactured homes, also referred to as mobile homes, are prefabricated in factories before they are transported to specific home sites. Normally, mobile homes are built with a steel frame and secured to a base after being transported to their final location.

The freedom to live flexibly in manufactured homes has been popular since the 1950s. Even though manufactured housing is flexible, overtime their mobility has become overstated and replaced with larger models of manufactured homes that are not quite as easy to relocate. Now that larger models of manufactured homes are available, another question should be asked: do manufactured homes increase in value?

The Advantages of owning A Manufactured Home

Consider the advantages of owning a manufactured home. Manufactured homes are affordable, have strict control over the building process, are constructed quickly, offer design flexibility, are energy efficient, and come with warranties.

Affordability

In your search for affordable manufactured homes, you will be happy to discover the cost of owning one is considerably less than when compared to traditional homes of the same size. So, why are manufactured homes so cheap? The fact that production of manufactured homes takes place in factories drives down production costs for mobile homes, saving home buyers a substantial amount of money. Every situation is different, but owning a manufactured home can even be less expensive for homeowners than renting traditional homes or apartments in many areas throughout the US.

A home is a long term investment; naturally, you need to know if manufactured homes increase in value before your purchase. It is an unfounded theory to believe, as some do, that a manufactured home will depreciate soon after the sale in the same way that buying a new car will. While you can’t claim that every manufactured home will appreciate over time and hold its value, today’s standards for manufactured homes have proven that mobile homes appreciate very closely to how stick-built homes do. The Federal Housing Finance Agency, or FHFA, has conducted a detailed report comparing the appreciation rates of manufactured homes to stick-built homes. The final conclusion of the FHFA report is that, when well maintained, manufactured homes normally appreciate in value over time.

Control over the Building Process

The building techniques and quality control over the building process for manufactured homes in a specialized facility have significantly improved the quality of manufactured homes these days. Highly trained technicians using state-of-the-art machinery are producing solidly built manufactured homes that meet strict standards through rigorous evaluations. As a result, routine maintenance and repairs are relatively inexpensive for manufactured homes.

Speed of Construction 

A construction delay for manufactured home construction is very rarely an issue. On average, it takes about four months to complete the "home order to home move-in" process. The construction of a manufactured home takes place in a climate controlled facility with no threat of weather delays. The actual construction process for a manufactured home in a factory typically only takes a few days. By the time your new manufactured home is ordered, constructed in the factory, and set up on site, you can move in within four months. The speed of construction for a manufactured home is a huge advantage.

Design Flexibility 

There are hundreds of manufactured home designs to choose from, but you won’t be confined to those preset designs. The ability to select your desired look and size of your manufactured home offers homeowners amazing design flexibility options. See something you want for your home? Create your own home design and customize the floor plan to fit your needs and wants.

Energy Efficiency 

Yes, it’s true; manufactured homes are energy efficient. New energy-efficient manufactured homes are well insulated and use energy-efficient appliances, which offer homeowners savings on energy bills.

Those of you with existing mobile homes may be wondering how to make a manufactured home more energy efficient. Adding insulation to the roof, the underbelly, and the walls of your manufactured home increases energy efficiency as well as sealing out noise. Caulking around doors, windows, and other openings like ducts and fixtures will offer greater energy efficiency while keeping pollutants outdoors. With these tweaks and improvements, you can reduce energy usage by 31%.

Warranty 

Quality manufactured homes will come with a warranty, and the cost will depend on the size of your manufactured home and where you live. The average cost for a manufactured home warranty will fall somewhere between $300 and $600 per year, which averages out to around $25 to $50 per month. 

The advantages of manufactured home warranties are that they offer protection for your investment against expensive repair costs for major home appliances such as refrigerators, washers, dryers, and electrical and heating systems.

Are Manufactured Homes Sounding Like the Right Investment For You? Contact Our Experts at Herrington's LLC for GREAT Deals on Manufactured Homes!

The advantages of manufactured homes are many for those looking for a new home. The new manufactured homes produced these days are spacious, affordable, and solidly built, making them a great investment. Well-kept manufactured homes will hold their value, while the land you set it on may increase in value as well. Determining whether a manufactured home is a worthwhile investment for you will depend on your long-term investment goals.

When looking for an affordable manufactured home, look for an experienced local mobile home dealer in South Carolina. At Herrington’s LLC, our experts provide the BEST deals on manufactured homes. Talk to our experts today to find your dream home at 843-358-6251 or send us a message!