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Real Estate Library: Manufactured Homes
|A manufactured home, also called "mobile home" or "modular home", is a complete home for permanent, year-round living. Over 32% of all new single family residential housing in America are manufactured homes.
Manufactured homes are built as dwelling units with a permanent chassis to assure a transportability of the home. They can be transported to the site by professional movers.
All manufactured homes must contain a manufacturer's certification --red label-- that the home is built in accordance with HUD's construction and safety standards. This standards regulate manufactured home design and construction, strength and durability, fire resistance, and energy efficiency.
Manufactured homes are available from the retailer, or a manufactured home supply office.
Most manufactured homes are placed on individually owned property. If you plan to place the manufactured home on land you own, it is recommended to check local regulations and restrictions before you buy.
You may want to place your home in the manufactured home community. There many such communities in the U.S. Finding quality community isn't easy. Find out exactly what is included in your rent and what rules and regulations are in the community. According to the American Housing Survey data the median monthly mobile home park fee averages $53.
The retail sales center where you buy your home can provide information on financing. You also have the option of shopping for your own financing. If you are buying the home and the land together, or plan to place the home on land you already own, some financial institutions offer traditional real estate mortgages with similar interest rates.
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