In 1976, the United States Department of Housing and Urban Development set building codes to follow in the case of factory built manufactured homes. The first manufactured home was assembled in a factory in 1926, but things have changed a lot in the next 50 years. One can easily buy a used manufactured home or go on the lookout for new manufactured homes. Both offer umpteen benefits except for some differences.
Things to Consider When Investing in Manufactured Homes
Buying a New Home
The blueprints can now be formulated using Computer Aided Software (CAD) even as one gets to choose from 900 to 2500 square feet. Decide what type of floorings, cabinets, and roofing you want within the home. Decide the type of paint and that whether you need the walk-in closet and the fireplace. The great benefit of buying anew is that you can simply tell the designer to customize the interiors, just as you make the right query with the builder.
Buying Second Hand
Walk around your neighborhood and you would invariably see a notice board reading “manufactured home for sale”. The price benefits of second-hand purchases apply even in the case of housing and real estate. When buying from a third party or a close relative you must ensure that the home is in good condition. Sometimes with great benefits, we try to negotiate a deal but the real deal occurs inside the house not off it.
Buying On Loan Basis
The fact that new manufactured homes cost up to $15000 has made the need for financing all the more important for some. The financing for these is much in the same line as for the site-built homes and you must make a down payment first. The property tax and other bills associated with taking care of a building are more or less the same.
Crosschecking for Permit
In case you own a land, you must cross check with authorities for a permit. Some changes have already been initiated, now that the HUD has made recommendations for the 2018 HUD budget. One would have to wait until next year to know what and all changes would be made and that how much viability would the authorities bring home to this segment.