Are you considering buying a manufactured home? You’re not alone. Currently, 17 million Americans live in manufactured homes, which make up about 21% of all new single-family homes sold. With excellent financing options and numerous benefits, manufactured homes offer an affordable path to homeownership for millions of Americans. Here are four key advantages of purchasing a manufactured home.
1. Affordability
Manufactured homes are significantly more affordable than site-built homes. On average, a new manufactured home costs $41 per square foot, while a site-built home costs approximately $84 per square foot. This price difference can save buyers thousands of dollars.
The affordability of manufactured homes is due to cost-efficient construction processes, not lower quality. These homes are built in controlled environments by skilled tradesmen, using bulk-purchased materials that reduce costs. Because construction is not affected by weather delays, homes are built more quickly—often in one-fifth the time of a site-built home. Additionally, less material waste and fewer delays contribute to the lower selling price, making manufactured homes a budget-friendly option for homeownership.
2. Safety and Energy Efficiency
Manufactured homes meet strict safety and energy efficiency standards set by the U.S. Department of Housing and Urban Development (HUD). Since 1976, HUD regulations have governed their construction, ensuring high quality and durability.
These homes undergo rigorous inspections and must meet performance standards for HVAC, plumbing, and electrical systems. Federal laws also mandate safety features such as smoke detectors, escape windows, and limits on combustible materials around heating sources. Additionally, manufactured homes are built with energy-efficient materials, insulation, and appliances to help homeowners reduce their utility costs.
3. Modern Amenities
Despite their lower cost, manufactured homes offer a wide range of amenities and customization options. Homebuyers can choose from various floor plans and features, including:
- Walk-in closets
- Whirlpool bathtubs
- Bay windows
- Fully-equipped kitchens
- Energy-efficient appliances
Exterior customization options include siding materials, decks, patios, and awnings. With so many choices, buyers can personalize their manufactured home to fit their lifestyle and needs.
4. Financing Options
Financing a manufactured home is now easier than ever, with multiple loan programs available. These include:
- FHA Loans: Government-backed loans with low down payment options
- VA Loans: Loans for eligible veterans and active military personnel
- USDA Loans: Loans for homes in eligible rural areas
These financing options make homeownership more attainable for many buyers. While each loan type has its own credit score requirements, down payment rules, and interest rates, most qualified buyers can find a financing solution that suits their needs.
Conclusion
Manufactured homes offer affordability, safety, energy efficiency, modern amenities, and flexible financing options. With all these benefits, they provide an excellent path to homeownership for millions of Americans.
If you’d like to learn more, contact us at 855-683-1732 to explore VA modular and manufactured home loan programs, or start your journey by filling out our online prequalification form today.
