For too many years manufactured homes have been wrongfully considered as substandard. Many people still think of a cramped metal, bus-like structure in a bad neighborhood where only economically challenged people to live. All of that is totally false. The manufactured home of today is every bit as spacious and modern as any traditional home. What they don’t have is the high price tag of many traditionally built homes. Because they are different you will have a few things to consider before you purchase a manufactured home.
Besides price, there is also the advantage of being able to pick your own floor plan. You won’t have to settle for something that isn’t your style. Most new manufactured homes have options in floor plans, appliances, as well as color schemes.
Unfortunately, you may have trouble with financing. Many lenders still consider a manufactured home personal property, not actually real estate. You may be forced to get a loan that is similar in structure to a new car loan. Causing you to pay a larger down payment, and possibly a higher interest rate. Having a good credit score will help to get you a better loan in this case. There are places that deal with loans for manufactured homes. If you are buying your new home from a dealer, they will be able to help you with financing.
A major consideration will be where you are going to place your new home? Are you planning on having it in a neighborhood of other manufactured homes? If so, you will need to consider what the rent will be for your lot space, how many yards you will have, and other rules that might come with this type of community. If you are the type of person who needs more personal space and privacy you might consider buying a section of land to set up your manufactured home.
Setting your home on a permanent piece of land can also help in finding a mortgage. While it still may be difficult to get a mortgage for your home you can often get a mortgage for your land. By fixing your home on a permanent foundation, even adding a basement, you can establish your manufactured house as a home. A traditional mortgage could be used to pay off a higher interest loan thus giving you lower payments. Since a manufactured home is often a first home saving money is usually a consideration.
When considering manufactured homes for sale in Gardner ask if they have financing available. The floor plan will be important. How many bedrooms, how many bathrooms, what appliances come standard are all very important things to consider. But, for someone just starting out the money will be the most important thing to consider. Being able to purchase a beautiful new home that is equal to any traditionally built home for almost half the cost make manufactured homes appealing to many young families.
You will also need to remember that once placed a manufactured home will need a certain amount of upkeep. Depending on if it’s on a permanent foundation or not you will have to inspect it on a regular basis. Manufactured homes are made of metal and can rust where the foundation and home meet. By raising it up on a standard foundation you can usually avoid this problem.
Finally, know that unlike a traditional home, a manufactured home will not increase in value. It will last as long as a traditional home, but it can not be thought of as an investment.