Modular homes have now moved on from looking unattractive and look more like on site homes built on a permanent structures. However, like any investment, there are pros and cons involved. Here are some pros and cons of buying manufactured housing.
Pro: Controlled Manufacturing Environment – A home built on site faces the elements during the entire construction period. This can affect the interior structure of a home. Weather conditions can also stall construction and delay the entire process. Since factory homes are built and stored in doors, they do not face such issues.
Con: Upfront Payment – On site homes usually are paid for with a mortgage. However, a factory built home requires an upfront payment, to secure the purchase. Some builders will offer buyers loans, but most buyer will have to pay the initial payment.
Pro: Building Cost – Building costs are reduced by investing in a manufactured home, since the materials are sourced in bulk and the construction of the home is strictly planned.
Con: Land Costs – Regular homes are sold in one transaction, including the house and the land. In the case of a manufactured home, the buyer has to purchase the land and then look for a builder to make their manufactured home. Therefore, the buyer might be unsure of how much they are able to spend on their home, until the land is secured.
Pro: Construction Advantages – Since manufactured homes are transported to their locations, they are built sturdier to withstand transportation.