Every individual wishes to possess a beautiful home, but many cannot do so due to financial constraints. If your milestone in life is to own your dream home, buying a new manufactured home is a perfect choice. Manufactured homes come with budget-friendly options, and you can customize them according to your needs and financial conditions. Compared to traditional homes or renting an apartment, it’s affordable. You get bespoke features like cabinetry, hardwood floors, new lighting, score fireplaces, snack bars, Corianne countertops, walk-in closets, and stainless steel appliances. Of course, you must adhere to a few simple rules and regulations to accomplish this.
So, let’s explore more about manufactured homes and how they differ from traditional homes.
What is a Manufactured Home?
A manufactured home is also known as a mobile home or trailer home. A living area, modular kitchen, and various bedrooms mimic site-built homes and provide unexpected space. According to the Manufactured Housing Institute, new manufactured homes are an essential source of affordable housing for 22 million Americans. In addition, the factory-built housing business provides around $2.6 billion to the U.S. economy and produces about 90,000 homes.
How are Manufactured homes different from traditional homes?
Traditional homes are built on the land. The purpose of construction is to keep it in one place forever; you can construct the traditional house according to your need, in all shapes and sizes, from small one-room living units to ultra-luxurious skyscrapers. In the United States, the standard cost of constructing a 2,600-square-foot single-family home ranges from $260,000 to $710,000. Most homeowners spend around $358,800 for a traditional home with mid-grade materials, a garage, and a deck.
Manufactured homes are developed in a factory and transported to construction sites in one or more sections, subsequently linked together. Most manufactured homes sit on wheeled platforms rather than permanently connected to foundations. A prefabricated home costs roughly half as much as a stick-built home per square foot; according to the source, a manufactured home will cost $57,700 in 2020, but prices vary depending on size, location, and other variables. It comes at a higher expense if you want a permanent foundation that safeguards your manufactured home.
How to buy a new manufactured home? –
Search a manufactured home dealer/consultant –
To buy a new manufactured home, conduct a thorough search for dealers/consultants who sell both new and repo homes. You can also find existing prefabricated homes through real estate agents, conventional real estate listing websites, and internet manufactured home marketplaces.
Prepare a list of your basic requirements (With respect to the home).
It is critical to list your basic needs or family situation before buying a new manufactured Home, such as a single-family home (attached or detached), double wide, condo, duplex, townhome, halfplex, or prefabricated home.
Interior design, features, do you require a swimming pool? Dining area, energy, accessibility, number of rooms, does your space fit your newly constructed home? Roofing material. These are the basic requirements to include in buying a new manufactured home.
Explore different options –
After you’ve decided on a mobile home dealer and basic requirements, the next step is to learn about the other options that come to buy with a manufactured home, such as:
- Roof Pitch Options
- Closet Upgrades
- Door and Window Options
- Bathroom Upgrades
- Flooring and Carpet Options
- Wallboard Options
- Siding, Shingle, and Shutter Options
- Kitchen Upgrades
- Lighting Options
Check out your financial status (Credit score etc.) –
Many lenders require a credit score of 580 to 620 to buy a mobile home, and if you have a bad credit score, you may still be able to acquire financing, but you will have to pay a hefty down payment and pay a higher interest rate. After all, banks only want to lend money and make more money! So, even if your credit isn’t ideal, manufactured housing consultants’s FICO Score Improvement Program is probably a perfect option available for you. However, if you want to achieve the highest or repair credit score, MHC will help you obtain a lower down payment and a lower interest rate too.
Search land for the manufactured home –
When searching for land for a manufactured home, it is critical to know the site, such as the topography:
- Is the Land Appropriate for a Mobile Home?
- Are there any utilities on the premises?
- Is this land found in a flood zone?
- Is this home far enough from the in-laws?
- Is the price reasonable?
Don’t worry!! MHC will help you in this too. Explore our Land Location Services.
Close the deal and process the payment (Down payment in case of finance) –
A manufactured home retailer can help you find a lender. You can also search for a lender prepared to finance a purchase from that retailer on your own. In addition, manufactured housing consultants offer low-interest rates for good credit and specialty finance programs for low, no, and even bad credit. Here you can close the deal and process the payment smoothly.
Some FAQs –
How much do new manufactured homes cost?
The price of a new manufactured home is determined by its size, model, and location. According to the U.S. Census Bureau, the average cost of new manufactured homes in October 2021 was $81,700 for a single-wide and a double-wide for $138,200. In early 2022, this is expected to have increased due to inflation.
What benefits of buying a new manufactured home?
There are numerous advantages to buying new manufactured homes, such as Flexibility, Affordable, Reliable Construction, and Environmentally Friendly.
Where to buy new manufactured homes?
You can purchase new manufactured homes from any retailer. However, Manufactured housing consultants are the ideal alternative for purchasing manufactured homes since they can provide you with the best offer at an affordable price.
How to finance a new manufactured home?
Longer payback terms are familiar with mobile home financing choices. Depending on your circumstances, you may choose manufactured housing consultants with a shorter time. It could include No Credit, Low Credit, and Bad Credit.
Maintenance cost of a new manufactured home?
Maintenance cost totally depends on the area of home which you want such as roof, floor, wall, or any other interior or exterior portion, but from $5,000-$10,000 you can get a routine maintenance check for your home. And new homes do not require any maintenance cost in initial days.
Best place to buy a new manufactured home?
You can quickly find several dealers who sell manufactured homes. However, you must purchase a new manufactured house from a reputable and reliable dealer such as Manufactured Housing Consultants. MHC ensures the security of both your money and your property.
Conclusion –
We hope the information we’ve provided will assist you in finding your dream Manufactured home. If you need any additional assistance in buying a new MobileHomes in San Antonio for your family, contact Manufactured Housing Consultant immediately or call 1-866-261-6629.
