Mobile and Manufactured Homes Are Alternatives to Expensive Traditional Homes


Today’s home buyers have different choices to achieve the American dream. Home ownership has always been a goal of most people. Whether homes are for families or single proprietorship, most people want to own one for themself. In addition to the tax benefits of home ownership, owners have a real sense of accomplishment. They feel more in control of their environment than renters because they can make changes and create surroundings that speak to their lifestyle. Traditional homes can be expensive options, but mobile and manufactured homes, sometimes referred to as modular homes, are alternatives that provide the same attainment of that goal. Over the years, the two types of non-stick- built homes, have changed in the way they are perceived by the public, as well as how they are defined in the industry.

Difference Between a Mobile Home and a Manufactured Home

Mobile Home

  • The term “mobile” home indicates those built before 1976.
  • Standard of quality was not set by the government prior to 1976.
  • It was not necessary to set it on a permanent foundation and, therefore, was easily moveable.

Manufactured Home

  • The term “manufactured” home came into existence following 1976.
  • They are constructed with more exacting criteria.
  • They are fabricated entirely in a factory using the federal benchmarks as criteria.
  • They possess higher qualities relating to strength, durability, fire resistance, and energy efficiency.
  • They meet required conditions for electrical systems, heating, air conditioning and plumbing.
  • They come in one or two pieces and placed on a permanent foundation.

The affordability of modular homes is one of its major attractions. In addition, owners can purchase a piece of land and have the home placed on it without having to deal with developers, model homes, and sales agents. Modern manufactured homes can be just as upgraded as traditional homes. Enhancements, such as granite countertops, large master suites, open floor plans, hardwood floors, and garages or porches, are available.

Benefits of Owning a Mobile or a Manufactured Home

The cost of a manufactured home is one of its most touted features. After that, the energy efficiency and the ease with which it can rival a more traditional home make it a most desirable alternative. While the cost of the home is only part of the overall price tag, it will usually still beat out the cost of a comparable traditional home. Many people purchase the land on which to put the home, while others rent space in mobile home parks within a community. Either choice will likely be less than the mortgage on a traditional residence.

Manufactured homes are easily attainable through the availability of mobile home loans. Similar to mortgages, financing is offered through (Federal Housing Administration) FHA loans, (Veteran Affairs) VA loans, and (United States Department of Agriculture) USDA loans. Most qualified buyers can avail themselves of these choices and purchase a new or used manufactured home.

Disadvantages of Buying Mobile or Manufactured Homes

Manufactured homes usually do not build equity like the traditional home, but may maintain their value. This does not have to be a downside if buyers are planning to stay in the home for a long period of time. It is also perfect for retirees because it may well be the last home they will purchase. The lower cost, the versatility of placement, and unrestricted options to make improvements can be just what a retiree desires. The possibility of it depreciating in value may not be as much of a turnoff as it would be for younger families, who may want to use the equity to trade up to a bigger or better home.

If buyers are renting a space, the space rental amount cannot be written off on taxes, but they can still write off the interest on a mortgage (if they have one) and property taxes for newer homes. Other disadvantages may be that not all lenders finance manufactured homes, and space rental in mobile home parks has been on the rise as corporations have continued to purchase up these parks and will likely increase every year or so.

So, for those in the market to have the coveted title of “homeowner,” this wise alternative can be their ticket in. Just like traditional homes, manufactured ones can be purchased new or used. Home buyers can have their dream come true by thinking outside the box. Make this alternative housing concept a reality. It is definitely worth consideration. If it does not work out, they can always return to the rental market.