Outlining The Pros And Cons of Manufactured Homes
If the idea of living for less appeals to you, the manufactured housing may be the best for you. The cost of acquiring the manufactured home is far way less that the conventional stick-frame housing. You will however have a hard time accessing the financing for the purchase that you are planning to make. Your house also risks having its value going down over time. This article aims at outlining the pros and cons of manufactured home so that you can make an informed decision.
The price tags on the manufactured home is an incentive that makes a lot of people go for them. Since the units are mass produced the overall cost of assembly is lower. The catch in this arrangement is that lenders will be hard to come by. The only way that you can be eligible for mortgage is by attaching the house to a basement or concrete permanently. The downside of this is that you will incur more costs.
By choosing a manufactured home you have the opportunity to enjoy luxury at a lower cost. Due to the lower base price you can be able to upgrade the structure. The disadvantage that you will face in this instance is that you will be limited when in terms of the design and layout. If you are intent on going for a customized house, your options will be limited in this case.
You need to look for a place to put your manufactured home if you take this route. This is a big challenge to you considering that a lot of areas have scarce land. If you happen to find a patch of land, you may face the challenge of its exorbitant price. It will not make any financial sense to buy the land as it will defeat the purpose of the manufactured home as you learn more.
One advantage of manufactured homes is that they are of good quality and are versatile. Additionally, you will enjoy customization and features as regards the functionality and aesthetics.
Since the manufactured homes are made from prefabricated components the structure are ecofriendly. As well you will have less waste resulting from the construction.
Since the manufactured homes come with specified features you may have little room to make modifications or customization. The design of the house as well limits you on the level of amenities that you can place.
The disadvantage of settling for a manufactured home is that it will fetch lower resale price when you decide to put it up for sale. You will find it challenging to get a buyer who is willing to purchase your house. The house will not be able to compete with other properties in the market.