Manufactured homes, also known sometimes as mobile homes, are a form of prefabricated buildings or prefabricated home. This type of home is manufactured elsewhere and then shipped to wherever its final destination will be.
Such homes must meet certain specifications, for instance, they must be more than 300 square feet and they have to have a chassis that is permanent. The latter makes it possible for the home to be transported. This wheeled chassis is, in part, what makes mobile home different from modular homes.
Manufactured homes, were initially developed so that they could be easily transported from one place to another. In the past, individuals who required a transportable home might have purchased a manufactured or mobile home. This is would allow them to take their home from one place to another as they saw fit.
Mobile homes have been around for some time. Initially, they were marketed as a form of cheap housing, as they continue to be today. The smaller ones could be transported with a person’s car. The larger ones required professional transporting. In the 60s and 70s, these types of homes were made larger and began to take up more space.
They became so large that it has because nearly impossible to transport them via a car, like many people had done in the past. They thus developed more permanency.
Manufactured homes have come a long way since they first hit the market. What was once a small dwelling that was easy to transport, has become more and more like traditional or site-built homes.
Mobile homes have received a bad rap much of it has to do with the cost of these homes and the fact that they are mobile. People, in many parts of the United States, prize homes that are fixed in place and built on-site. They are considered more desirable and have a higher value. Mobile or manufactured homes tend to decrease or depreciate in value while traditional homes, as long as they are taken care of and the economy allows for it, go up in value.
The safety of mobile homes or the perceived lack thereof, is a concern for many people as well. In areas of the country where there are strong storm systems, such as tornadoes or hurricanes, manufactured don’t hold up well because in the past they lacked a foundation. The latter has since changed. Today, it is possible to purchase mobile homes with a foundation or to have them retrofitted.
Obtaining a loan for a manufactured home can be challenging. Most lenders will not offer a 30 year loan because they depreciate so fast. Lenders also tend to charge really high interest rates, making these loans much more expensive than traditional home loans.