Buying a home of any sort is an issue. So, it’s important to consider all related factors before you begin signing bank documents. Deciding whether a manufactured home is the best choice for you or not is important! So, weigh the benefits and drawbacks before you make your next move.
Think About Size
One of the first considerations is size. While manufactured homes come in different sizes, you must also remember the larger the home, the more it will cost. Simultaneously if you are looking for something as a starter home you have to remember a manufactured home will not provide equity in your pocket toward the buying of another home.
Financial Benefits Of Manufactured Home Purchases
If you wish to be a homeowner but have very limited funds, manufactured homes can permit you to make your dreams come true even on a tight budget. Since the typical manufactured home costs much less than a traditional home, you will need a lower down payment and will pay fewer taxes. In fact, registering a manufactured home is more like registering a vehicle which makes the entire buying process much less expensive than the traditional home buying process. Thus, first time home buyers and retirees often like the idea of paying less for their new home.
Low Cost Additions
Manufactured homes can easily be expanded with the addition of more rooms, for much less cost than an expansion to a brick and mortar home might cost. In most areas, you don’t have to try to get a building permit when adding onto your manufactured home. The operation of adding to the home is simple, inexpensive, and quick which makes the choice of buying a manufactured home very appealing to many buyers.
Aside from the main disadvantage that manufactured homes earn no equity, they are also quite fragile during natural disasters or fires. For instance, a strong thunderstorm can cause major damage to a manufactured home. So, it’s important to carry great insurance if you purchase a manufactured home to help you be prepared if something does occur to ruin your home altogether. However, a manufactured home is a safe place to live and can be kept in excellent condition when given proper treatment.