Top 5 Manufactured Home Myths
“Home sweet home” comes in all sizes, locations, and budgets: urban brownstones, modern high-rise apartments with sweeping city views, rambling suburban ranch homes, rustic farmhouses, manufactured homes … That’s right. For many people, the perfect home is a manufactured home. If that surprises you, you may be buying into the following common (false) manufactured home myths. We’d like to set the record straight!
Myth 1: Manufactured homes are unsafe.
Modern day (post-1994) manufactured homes must meet the same U.S. Department of Housing and Urban Development (HUD) safety standards as stationary homes built on permanent sites. That means manufactured homes meet the same construction quality, strength, and fire / wind-resistant requirements as site-built homes. In fact, manufactured homes must meet higher building-code standards than site-built homes.
Myth 2: The value of a manufactured home won’t appreciate.
As a blanket statement, that’s false. Like site-built homes, appreciation or depreciation occurs on a home by home basis. Manufactured homes can gain equity and increase in value, primarily if the home’s owner also owns the land on which the home sits, they’re well maintained and cared for, attached to a foundation, and have been updated with additions or attached garages. The more desirable the location of the home, the greater the appreciation potential.
Myth 3: Manufactured home communities are tacky.
Sure, you’ll find rundown “trailer parks” throughout the United States – just as you’ll find rundown site-built-home subdivisions with cars parked on the lawns and knee-high weedy yards. But just as you’ll find exclusive gated communities with upscale stick-built homes, you’ll find luxurious manufactured home communities with resort-style pools, million-dollar views, and famous residents.
Myth 4: Manufactured homes all look the same.
Granite, hardwoods, gourmet kitchens with islands, fireplaces, soaking tubs, custom window treatments, spacious porches, media rooms, walk-in closets, skylights, master suites … these are just some of the amenities available in manufactured homes!
Myth 5: It’s tough to find financing for a manufactured home.
It’s no tougher to secure financing for a manufactured home than for a traditional home. When you finance a manufactured home as real property, VA, FHA, USDA and conventional financing is available with terms up to 30 years.
If you’re in the market for a new home, don’t underestimate the benefits of manufactured homes. For significantly less money than you’d spend on a site-built home, you can purchase a manufactured home that has all of the amenities on your wish list. You’ll get the home sweet home you’ve dreamed of – with far less debt and far more flexibility.