the advantages of manufactured housing
- depending on the region of the country, construction cost per square foot
for a new manufactured home averages from 10 to 35 percent less than a
comparable site-built home.
- independent appraisal studies confirm that manufactured homes can
appreciate in value the same as other forms of housing.
built for quality:
- all aspects of the construction process are controlled.
- the weather does not interfere with construction and cause delays.
- all technicians, craftsmen and assemblers work as a team and are
- inventory is better controlled and materials are protected from theft and
- all construction materials, as well as interior finishes and appliances,
are purchased in volume for additional savings.
- cost of interim construction financing is significantly reduced or
- all aspects of construction are continually inspected.
- floor plans are available that range from basic to elaborate, with vaulted
or tray ceilings, fully-equipped kitchens, walk-in closets, and bathrooms with
recessed tubs and whirlpools.
- a variety of exterior siding is available, including metallic, vinyl,
wood, or hardboard. in some cases, homebuyer can also opt for stucco
- homes have pitched roofs with shingles and gabled ends.
- design features such as bay windows are available.
- awnings, patio covers, decks, site-built garages and permanent foundations
are available as upgrades.
- the home can be customized to meet the needs of the consumer.
- the building materials in today's manufactured home are the same as those
used in site-built homes.
- the homes are engineered for wind safety and energy efficiency based on
the geographic region where they are sold.
- manufactured homes may be one of the safest housing choices available
today because of federal laws requiring smoke detectors, escape windows, and
limited combustible materials around furnaces, water heaters and kitchen
- properly installed homes can withstand 120-130 mph 3-second gust winds in
areas prone to hurricanes.
with the crisis in affordable housing continuing across america,
manufactured housing offers a unique source of quality, nonsubsidized homes that
people can afford. with an average per-squarefoot cost ranging from 10 to 35
percent less than site-built homes, depending on geographic region, today's
manufactured homes provide homebuyers with the best value to be found in the
the affordability of manufactured housing can be attributed to the
efficiencies emanating from the factory-built process. the controlled
environment and assembly-line techniques remove many of the problems encountered
during site building, such as poor weather, theft, vandalism and damage to
building products and materials stored on site. also, factory employees are
scheduled and managed more effectively and efficiently, as opposed to the system
of contracted labor employed by the site-built housing industry.
manufactured home building also benefits from the economies of scale that
result from being able to purchase large quantities of building materials and
products. as a result, manufactured home builders are able to negotiate better
prices on many construction materials and products for the home and pass these
savings on to the homebuyer.
in addition to affordability, today's manufactured homes also offer the
quality, amenities, and technologically advanced features that homebuyers
desire. ranging from vaulted ceilings to working fireplaces to state-of-the-art
appliances, today's manufactured homes offer the homebuyer the opportunity to
customize a home to fit a family's particular lifestyle and needs, at a price
they can afford.
once known primarily for providing rural housing, today's manufactured homes
are evolving, with architectural styles that blend into most neighborhoods and
offer real housing options for suburban and urban markets. exterior designs make
these homes indistinguishable from site-built homes, allowing them to blend in
seamlessly with existing neighborhoods. as a result, developers and builders are
using manufactured housing in their subdivisions in increasing numbers.
greater focus on energy efficiency within the manufactured housing industry
has resulted in a significant jump in the numbers of manufacturers building
energystar-labeled manufactured homes. these homes, with enhanced levels of
insulation, as well as more efficient heating and cooling equipment, provide
homeowners with substantial savings on their energy costs.
an emphasis on innovation and "out of the box" thinking - including two-story
and single-family attached homes - is propelling the manufactured housing
industry forward in many new areas. with continued advances in technology and
public acceptance, manufactured housing will remain a major provider of quality,
affordable housing in the 21st century.
today's buyer of both new and existing manufactured homes may choose from a
wide array of financing options. some financial institutions offer an entire
menu of lending programs. the house can be financed as personal property, on
leased land, in a manufactured home community or on a privately owned site.
buyers who desire to acquire land in conjunction with the home can finance the
land and home together. properly financed, the purchase of a manufactured home
will lead to equity building for the homeowner.
most buyers arrange financing for manufactured homes through the retailer
from whom they buy their home. these retailers maintain business relationships
with a number of lending institutions - large national lenders as well as local
institutions - and can assist in the preparation and submission of a credit
application. customers also may shop independently for financing with a lender
of their choice.
manufactured homes can be financed as personal property. even when the home
and land are financed together, the home is often secured as personal property
and the land as real property. a growing number of buyers are opting to put
their homes on land they are purchasing or already own. traditional manufactured
home personal-property lenders have created land-and-home financing programs
designed to accommodate this trend.
another growing trend for homebuyers is to finance their home and land
together as real property using conventional mortgage financing obtained through
a traditional mortgage lender. fannie mae and freddie mac, the primary secondary
market sources for mortgage loans in the u.s., encourage this trend through
their guidelines for accepting real estate mortgage loans for 20-and 30-year
terms secured by manufactured homes.this information was
provided by the manufactured housing institute. for more facts and figures
please visit: quick facts 2006