The Pros And Cons Of Choosing Manufactured Housing
If the idea of living for less appeals to you, the manufactured housing may be the best for you. You can get a manufactured home for much less compared with the traditional houses. You will however have a hard time accessing the financing for the purchase that you are planning to make. In addition, your house can experience depreciation of its value after sometime. This article is aimed at explaining the pros and cons of manufactured homes so that you can make the right decision.
One of the factors that leads a lot of buying choosing manufactured homes is their affordability. The affordability is informed by their mass productions so they cost less to assemble. However, you will not be able to access lenders easily. You will need to attach your structure to a concrete foundation or basement if you want to qualify for mortgage. 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. The low base price of the home will enable you to add to the house. You will have restricted choices in the areas of layout and design. If you are intent on going for a customized house, your options will be limited in this case.
A manufactured house requires you to get a location where you will place it. You will find yourself in a difficult situation since getting empty land space in a lot of areas is tricky. Land that you can get by chance is sold for very high prices. 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. As well you will have the advantage of improved functionality and aesthetics because of the numerous features and customization.
The fact that prefabricated materials are used in the construction of the manufactured homes, the structure is friendly to the ecosystem. Additionally you minimize the level of construction waste.
Since the manufactured homes come with specified features you may have little room to make modifications or customization. Additionally you are limited in terms of the amenities that you can put in the house.
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. Locating a buyer for your house can prove to be very difficult. It will be hard for your home to compete effectively in the property market in comparison to other properties as the page suggests.