Why You Should Buy a Manufactured Home!

Why Should I Buy a Manufactured Home?

For many people, the idea of buying a manufactured home is foreign. Few people recognize the important role that manufactured homes play in today's housing market, or how they have improved over the years to provide an excellent level of comfort and design. Here are just a few of the reasons you should be thinking about a manufactured home:

More Options For Today's Homeowner

One of the greatest benefits of choosing a manufactured home is the sheer number of options available for you to buy. For instance, most builders of manufactured homes will allow you to fully customize your design from the ground up without breaking the bank. This is because their homes are built in a factory where all of the parts are movable to meet your specifications without adding a significant cost to the homebuyer. By contrast, if you were to have a site built home customized, you would spend a small fortune just for the design drawings and basic upgrades like granite countertops. Manufactured homes also typically come with a range of different material options already available so you can pick or choose your colors and they can be installed in no time at all.

Financing Without Major Run Arounds

With manufactured homes, you may have better luck getting the financing you need. The mortgage industry has really tightened up in recent years, and qualifying for a regular mortgage can be a real headache. Not only do you have your information sent to a multitude of underwriters, but often your mortgage is later sold multiple times which is a headache within itself. Lenders who specialize in manufactured homes truly understand the process of your purchase. In addition, these homes typically cost less than regular site built homes, so you won't have to borrow as much to get the home of your dreams.

Safety and Security Comes with a Manufactured Home

Some people believe that manufactured homes are made with sub-par building materials. This simply isn't true. In fact, manufactured homes are built using materials and systems that exceed the demands of a site built house. This is because the home needs to be able to withstand regular living and also must hold up to the elements the environment tends to dish out. Thus, extra support structures are required and stay in place even after your home is placed on land.

Energy Efficiency - A Part of Today's Manufactured Home

There has been a strong focus placed on improving the energy efficiency of manufactured homes in recent years. The good news is that manufacturers have really invested in quality materials to keep these homes well insulated and running smoothly. Now you can even save money by opting for a modern energy efficient home that has insulating properties you won't find in an older traditional homes.

Less Waste Than Site Built Homes

Did you know that site built homes produce a large amount of waste material that ends up in landfills? From leftover shingles to scraps of wood, every site built home contributes to our waste problem. By contrast, manufactured homes are precision built inside a closed manufacturing system where waste can be reduced by up to 40%! They are more environmentally friendly to build, and they last just as long as traditional site built homes when cared for properly!

As you can see, buying a manufactured home can actually save you money in the short term while giving you the most flexibility to design the house of your dreams, and save you money long term thanks to energy efficiency improvements! If you have been searching for a home with little luck or you are tired of dealing with conventional lenders, now is the time to start looking at what a manufactured home could do for you! You will be amazed by how far this industry has come in the last decade, and you are sure to find a home that will fit your needs and design ideas.

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Is Buying a Manufactured Home a Good Investment for 2021?

By Justin Large • October 13, 2020

Yes, yes, and YES! If you’re planning to ditch apartment living and move to a community surrounded by beautiful landscapes, a manufactured home might be the solution you’re looking for. Although many manufactured home communities are located in beautiful places across the country, one question you probably ask yourself is whether or not buying a manufactured home represents a good investment. This question stands out as particularly pertinent to the economic crisis we’re currently facing. In general, factory-built housing provides some lucrative investment opportunities. But according to experts, determining whether it’s best to buy a manufactured home now or wait a little bit longer depends on a number of variables. To help you make an informed decision, let’s analyze a few factors that indicate why buying a manufactured home these days may be a wise financial move. A Manufactured Home Is a Safe Investment Option The 2007-2008 financial crisis made us realize an important aspect: although conventional homes are significantly more expensive than factory-built housing, investing in a traditional home is as risky as, if not riskier than, buying a manufactured home. As an economic collapse can happen rapidly due to an unexpected event, increasing numbers of people have bought more affordable homes in recent years. Affordable housing options, like manufactured homes, don’t require homebuyers to make hefty down payments and cover large monthly payments over the life of their home loans. A lower monthly payment makes it easier for you to meet your recurring financial obligations during an economic downturn. The fact that the manufactured housing industry has recorded significant shipment increases over the last few years indicate that manufactured homes are currently ranked among the largest sources of affordable housing that provide some safe investment opportunities. The Demand for Affordable Housing Continues to Grow Manufactured homes provide one of the few solutions that could help us effectively address the current affordable housing gap. As these homes cost less than traditionally built houses, they provide a good housing option for different demographic categories, including people who live on a fixed, relatively low income. On the downside, because the demand for affordable homes is projected to increase even more over the coming years, the sales prices of manufactured homes might rise in the future, especially due to the persistent affordable housing shortage and rising costs of land. Manufactured Home Loans Are Easier to Come By in Today’s Economic Environment A few months ago, a fair credit score, minimum income documentation, and the minimum down payment amount were some common requirements for a traditional home loan. Due to the current economic downturn, however, mainstream lenders have reported tightening their lending standards on different loans, including mortgages. This could prevent many people from qualifying for a traditional home loan. Conversely, dedicated manufactured home lenders apply the same credit standards as before and offer a variety of manufactured home financing options, with different interest rates and repayment terms. Some of these financing options have been specifically developed to meet the financial needs of potential borrowers with lower incomes, poor or bad credit, and lower down payment amounts. Manufactured Homes Offer the Most Bang for Your Buck Manufactured homes are constructed to the same building codes and standards, pertaining to the structural design, energy efficiency, and fire safety, as site-built homes. Because one of the goals of the current building codes is to ensure the durability of manufactured housing, a newly manufactured home can last a lifetime if it’s well maintained. Another aspect you should consider before buying a manufactured home is how it compares to a traditional home in the same price range. While a $200,000 home loan may get you a starter home, for example, the same money could buy you quite a luxurious manufactured home. The lower base price of manufactured housing also allows you to add different upgrades that you most probably couldn’t afford in a conventional site-built home. It’s worth noting as well that a manufactured home takes less time to build compared to a conventional house built on site. While the average time it takes to build a traditional site-built house is 6 months, the building process of a manufactured home rarely exceeds 3 months. The amount of time it takes to build a traditional home depends on its size and style, as well as its location and environmental conditions, including site topography and soil type. On the other hand, off-site home construction time typically depends on the manufacturer’s backlog of home orders and the level of customization homebuyers choose for their homes. If the aforementioned points haven’t convinced you that buying a manufactured home is a good decision, our professionals can offer additional details about the advantages of investing in a manufactured home and about the financing options that could help you bring your homeownership dream to life!

Top Ten Reasons to Buy a Manufactured Home

By Justin Large • September 29, 2020

1. Build Equity and Credit! 2. Open Concept Homes - New homes offer spacious, flowing floorplans and high ceilings that older houses don’t provide. 3. Smaller Homes - McMansions are expensive to heat, cool and maintain. The wide array of new manufactured homes make it easy to find the size just right for you. 4. Neutral Décor - Probably best for selling a home. However, as a new home buyer, don’t be afraid to display your true colors. 5. Modern Kitchens - The heart of every home. This is where new homes shine with the latest and greatest design, cabinets, countertops and lighting — to say nothing of state-of-the-art appliances. 6. Going Green – Hands down, new homes win here, too. The Home Energy Rating System (also known as a HERS Score) is an industry standard that rates the energy efficiency of homes. The lower the score, the more energy efficient the home. As the people behind HERS point out on their site, the U.S. Department of Energy has determined that a typical new home is 30 percent more energy efficient than a typical resale house. On the outside. Your ENERGY STAR certified Manufactured home may not look any different from other site-built or manufactured home, but you will feel the difference in your comfort, and see it in your bank account. An ENERGY STAR certified manufactured home uses substantially less energy for heating, cooling and water heating than a standard manufactured home. Homeowners can expect to save hundreds of dollars each year on utility bills. 7. Linen Closets & Smart Storage - New homes take the win in this category, too. Simply compare the much larger walk-in closets of today’s new homes with the cramped closest of old homes. 8. Energy-Efficient Fixtures & Appliances - Our new vs. resale home comparison is turning into a rout. Today’s new homes feature enormous energy efficiency in appliances, HVAC (heating, ventilation and cooling equipment) and throughout the house. As we saw, a typical new home of today is 30 percent more energy efficient than one built just five years ago. Compare a typical new home built today to a 10-20 year old home? Game over! “If you think of how they’re built in a factory, people are inspecting every home each step of the way. It’s all gotten down to a science: There’s no weather interfering with the process, like a site-built home, and no wasted materials. Every movement that goes into making them, and every inch of the home, is accounted for.” 9. Quality - There is a pathway to homeownership that many are beginning to discover that meets all the definitions and conditions of “everything a home should be – today’s modern quality built manufactured housing – confirmed to be equal, or superior, in every respect to site built homes and will have a cost of about 50% less, without sacrificing quality of construction, safety, energy efficiency, amenities and appearance. 10. Price - A new manufactured home will not only be one-half the price of a site-built, but also offers long term financing availability with a minimum 5% down payment requirement and monthly payments typically lower than rent.. In addition to pride of ownership and many other benefits, a new modern manufactured home can appreciate in value similar to a comparable new or existing site-built home thus creating wealth to the same extent as the traditional site-built. Buying for a great price and holding onto your home for a number of years is the key to building equity in any home. Thank you for taking a stroll with me down my first Top Ten blog about the many benefits of manufactured home ownership! Please contact me with any thoughts or questions! - Justin Large Trinity Homes of Abilene Texas