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\n <\/div>\n \n Step one: Talk to a few buyer's agents!<\/h3>\n
Tell us a little bit about your plans (where you’re looking to buy and when you want to make a purchase) and we’ll connect you with top-rated buyer’s agents in your area. It takes only a few minutes, and it’s free.<\/p>\n \n
What is a manufactured home?<\/h2>\n
According to the U.S. Department of Housing and Urban Development<\/a> (HUD), a manufactured home is built to HUD\u2019s Manufactured Home Construction and Safety Standards<\/a>. They are at least 400 square feet in area and contain a permanent chassis (usually steel) for transportation ease and safety.<\/p>\n Manufactured homes are built in a controlled environment and then transported in one or more sections to their final destination, where they can be placed on a permanent foundation, on a lot, or in a home \u201cpark.\u201d Each section of a manufactured home will have a red HUD certification label with a unique identification number that states that it was built to the proper standards.<\/p>\n Manufactured homes are not the same thing as modular homes<\/a>. While much of the home is built in a factory and assembled on-site in both cases, manufactured homes tend to come in only one, two, or three pieces, and they are required to have a permanent<\/i> chassis. Theoretically, you could move a manufactured home more than once.<\/p>\n Modular homes are built in \u201cmodules\u201d that can be assembled on-site to create a wider variety of floor plans. Modular homes are more versatile in design, often come in several pieces, and do not require a permanent chassis. Once they are set on their final foundation, they aren\u2019t moving again.<\/p>\n In the U.S., manufactured homes are also colloquially called mobile homes or trailers, but for homes built after 1976 that comply with the HUD Code, the correct term is \u201cmanufactured home.\u201d<\/p>\n The phrases \u201cmobile home\u201d and \u201ctrailer\u201d often have negative connotations associated with low quality and a run-down appearance. So the term \u201cmanufactured home\u201d is perhaps more appropriate then because these newer homes distinguish themselves by their more modern appearance and significantly higher quality.<\/p>\n Though manufactured homes aren\u2019t quite as versatile as modular homes, they\u2019ve still come a long way from the \u201csingle-wides\u201d of the past.<\/p>\n The overall construction is pretty standard \u2014\u00a0 these homes come in rectangular form only. However, the exact size and square footage can vary.<\/p>\n This means the upper range of a double-wide comes in at just about the median new home size<\/a>, meaning that manufactured homes can offer just as much space as many site-built homes. Plus, many manufactured homes come with add-ons that can make them indistinguishable from site-built homes, including:<\/p>\n Regardless of how well modern manufactured homes may blend in with site-built homes, there are some distinct differences that prospective buyers should be aware of. Here we outline all of the things to look for or consider when shopping for a manufactured home.<\/p>\n When it comes to site-built homes, whether the home is brand new or previously owned rarely matters except when it comes to repairs and inspections. With manufactured homes, however, this is not always the case.<\/p>\n If you plan to purchase a brand-new manufactured home, you will likely have no problem securing financing and bundling the home loan with a lot loan<\/a>. But if you are looking at used manufactured homes, it’s crucial to determine whether the house has been moved from its original site.<\/p>\n Despite the permanent chassis that makes the moves possible, manufactured homes don\u2019t hold up well through multiple moves. A home that has been moved more than once is more prone to problems and damage. Because of this, it might be difficult or impossible to secure a loan, depending on the home\u2019s condition and the state and local regulations.<\/p>\n If you are considering a used manufactured home, check its identification tags and paperwork with local records to determine if it was ever moved, and if it was, to see if the move was handled professionally, and to obtain a valid engineer\u2019s certification for the foundation<\/a>.<\/p>\n While older manufactured homes sometimes had insulation and ventilation issues, modern manufactured homes are often designed to be energy-efficient. If you are looking at older homes, make sure you determine the current state of the home\u2019s ventilation and insulation and see what sort of upgrades it might need.<\/p>\n Energy.gov<\/a> suggests that the following retrofit measures can help an older manufactured home become more energy-efficient:<\/p>\n Manufactured homes are typically more affordable than a stick-built house. Experienced Florida real estate agent Chuck Shaver<\/a> says, \u201cThey tend not to have homeowner\u2019s associations<\/a>, and they tend to have lower taxes. A budget of $100,000 gets a lot of home with a much better main suite, bigger walk-in closets, and huge bath that are all superior to that of a conventional home.\u201d<\/p>\n The lower price tag makes these home types attractive to first-time buyers and retirees looking to downsize.<\/p>\n Because manufactured homes are built in a warehouse, you might need to purchase your home and your land plot separately. Some people even buy a manufactured home and then rent the lot that the house rests on. More often than not, though, it\u2019s not too difficult to wrap your purchase of home and lot all into one transaction.<\/p>\n Greg Clark<\/a>, a top agent from Waco<\/a>, Texas, says that if a mobile home is used, the home and land almost always come together, but, \u201cWhen it comes to new-built manufactured homes, often the manufacturer will source those lots and roll it into the loan.\u201d<\/p>\n Some people find the land they like first and then make plans to place a manufactured home. However, you should be wary of purchasing the land before the home, as it may turn out that regulations prohibit placing a home on the land.<\/p>\n Buyers \u201cneed to be aware of the neighborhood restrictions or the area restrictions,\u201d says Clark.<\/p>\n \u201cIt’s the buyer’s responsibility to figure that out before they purchase the land. You\u2019ve also got to make sure you can get water, electricity, and sewer.\u201d<\/p><\/blockquote>\n While getting approved for a loan on a manufactured home can sometimes prove more challenging than getting a loan on a conventional home \u2014 especially if the home has been moved \u2014 it is still very possible to secure financing.<\/p>\n You can often get government-backed mortgages for newer manufactured homes, including FHA<\/a> and VA loans<\/a>. Otherwise, if it\u2019s a conventional home loan you\u2019re after, \u201cYou may be better off going to the local banks because sometimes their threshold for risk is a little bit different,\u201d says Clark.<\/p>\n Clients who have a relationship with a local bank may benefit from asking if they have a loan available for manufactured homes. This may be a particularly handy tip if you\u2019re looking to secure a loan on a manufactured home that has been moved, as it can be harder to secure a traditional mortgage on these properties.<\/p>\n Shaver notes that in some places, the home manufacturer could offer financing. \u201cI have sold homes to people that were looking for land. So, I helped them find the land they wanted, and they went to the home manufacturer. They financed the lot and the land together, and it was like a one-stop-shop.\u201d<\/p>\n Shaver also suggests that it is more challenging to get loans on a manufactured home that has been moved, though it isn\u2019t impossible. \u201cI just had a property where the home was moved, and it was financed, though it required a manual underwrite.\u201d A manual underwrite involves more paperwork and can take more time than typical automated underwriting, while the end result (hopefully an approved loan!) may be the same.<\/p>\n \n\n\n\n\n Tell us a little bit about your property and get a preliminary estimate of value in as little as two minutes.<\/p>\n \n Often people who buy a home consider it an investment. Home values tend to increase over time so that when you sell your home, you make a profit. This may not always be the case with manufactured homes, however. According to Clark, \u201cYear over year, they’re going to depreciate quicker than a regular home around here.\u201d<\/p>\n The value of the land your home sits on may help balance out declines in home value. However, according to Shaver, declining value of manufactured homes may not be the rule everywhere.<\/p>\n \u201cAllegedly, values decline over time. That’s what everybody tells me, but I have been selling mobile homes, and the price just keeps going up and up and up. I’ve never really bought into the belief that they do not increase in value over time.\u201d<\/p>\n Though manufactured homes may have had a bad reputation in the past, many modern homes are built to high-quality standards and are virtually indistinguishable from other homes.<\/p>\n \u201cDon’t look down your nose at them,\u201d says Shaver. \u201cThere are plenty of lenders; someone will finance them. And work with an agent that has dealt with manufactured homes<\/a>.\u201d<\/p>\n \n\n\n\n\n HomeLight-recommended real estate agents are top-tier negotiators who understand the market data that helps you save as much as possible when buying your dream home.<\/p>\n \n What kinds of manufactured homes can you buy?<\/h2>\n
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What should buyers think about vis-a-vis manufactured homes?<\/h2>\n
Buying new or used<\/h3>\n
Insulation, ventilation, and energy efficiency<\/h3>\n
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Cost of home<\/h3>\n
Land, and whether it is included or not<\/h2>\n
Getting a loan for a manufactured home<\/h3>\n
\n <\/div>\n \n What's your home worth today?<\/h3>\n
Your home\u2019s value over time<\/h3>\n
Find an agent who can help you find a manufactured home<\/h2>\n
\n <\/div>\n \n Save thousands when buying a home<\/h3>\n