The global health crisis has affected many industries, including real estate. There has been a huge decline in the number of homes available in the market, resulting in an incredibly high price increase. Today, it will cost you roughly USD 230,000 to be able to afford a median home. To cope with that, many families and individuals are now turning to manufactured homes as a more affordable alternative.
Manufactured Homes vs. Mobile Homes
Many people think that manufactured houses are the same as mobile homes. Though they are both movable, there is still a distinct difference between the two. Mobile homes are houses built before 1976. These are houses built offsite without the supervision and compliance to building codes or standards.
Before, these units were marketed as an affordable form of house that could be left or set up in one location during a period. During that time, you could call a house a mobile home if its size was around 8 to 10 feet wide.
Manufactured homes, on the other hand, are a term used for movable houses that were built after 1976. They follow guidelines under the 1976 Mobile Home Construction and Safety Act. Under this bill, a manufactured home should meet certain production safety guidelines and a certain level of quality.
What Are Manufactured Homes Made Of?
One of the beauties of having a manufactured home is its endless possibilities for customization. Either you follow some of the most typical designs or have your own layout, these types of housing give you the freedom to design it the way you want. You can choose from a wide array of materials, such as fastframe lighter than timber but highly resistant to fire and moisture. You can also have the option to have a quartz or granite countertop, hardwood or tiled floors, and stone accents.
Minimizing without Sacrificing Comfort
Compared to trailers, manufactured houses have a larger floor plan, making them ideal for families with kids or pets. Some manufactured houses can fit a whole living area, a king-sized bed, two bathrooms, a bathtub, and average-sized storage spaces.
Some manufactured houses are also complete with beautiful outdoor gardens and landscapes. You can also install Energy Star or energy-efficient appliances such as a whole HVAC unit. You can live minimally and on the road without sacrificing the comfort you often get when living in a traditional home.
Why are Manufactured Homes Affordable
The cost to have a manufactured home depends on the distance traveled and complexity of the site, but on average, many are still cheaper than site-built houses. One of the main reasons they are less expensive is that they use a majority of lightweight and affordable materials. These houses are also built inside a factory where the production is not affected by weather delays.
Another winning factor in manufactured homes is that they do not require a huge down payment, and a mortgage is easier to obtain than the process you have to go through on traditional homes. The property tax is also lower when you have a manufactured home.
How Much Does a Manufactured Home Cost?
The price of a brand new manufactured house depends on its structure, location, and size. In 2020, the average cost of a single-wide house with a size of 500 to 1,200 square feet complete with 1 to 2 bedrooms and bathrooms was USD 64,500. A double-wide manufactured home with an average size of 1,00ng 0 to 2,200 square feet with 2 to 3 bedrooms and 2 bathrooms is priced at least USD 120,300.
Manufactured Home Parks
If you do not want to station your house in a single location or you are not yet ready to purchase your own lot, the next best option for you is to live in a manufactured home park. This option is extremely affordable because, most of the time, your monthly rent on the lot already includes the cost for sewage, drainage, garbage disposal, and electricity. Some parks will only charge you for electricity if your stay has exceeded 30 days.
Manufactured home parks also boast amazing outdoors. Some are stationed near ponds, lakes, and recreational parks. If you have children, they will enjoy living here because they have the freedom to play outside.
Having the flexibility to decide which type of housing is financially best for you should be the right of every homeowner. An individual or a family must have the freedom to switch to more affordable housing, especially today when the economy is affected by the pandemic.