When considering if a <a href=”http://www.jandmhomes.com” target=_blank >manufactured home</a> and financing is right for your family, it is important to be knowledgeable about what a manufactured home is. Here are some interesting, useful facts about manufactured homes.
Manufactured homes are still more affordable then the home you would have to build. The regular home you build would take time and extra money on all the workers that would be at your home.
Manufactured homes are starting to look more like site-built homes every day but without the big price tag associated with site-built homes. On average a manufactured home costs between $35.00 and $65.00 per square foot.
Manufactured homes are typically purchased from a retail sales company that may be independently owned and operated, initially assembled by a local contracting company, and follow-up repairs performed by the manufactured home company under warranty.
Flooring, cabinetry, fixtures, appliances and plumbing have been installed at the factory.
Manufactured homes are desired by some homeowners because they generally cost far less to build than a stick built home. In addition, the buyer can select from a wide variety of amenities, layouts, and room sizes.
Manufactured homes are a natural for rural, suburban or urban building settings.
Manufactured homes are built in a factory-controlled environment and are required to meet the strict HUD Code, which was established by the Federal Government to regulate the design, construction, and safety of these homes.
The HUD Code sets standards for heating, plumbing, air conditioning, thermal and electrical systems, structural design, construction, transportation, energy efficiency, and fire safety. Manufactured homes are sold through dealers across the U.S. Home buyers cannot buy direct from a factory, it’s against the law.
State laws give owners of manufactured homes on leased land varying levels of notice, protection, and compensation related to length of leases, rent increases, evictions, and park closures.
According to some FHA and lending officials, potential benefits of the proposed changes for borrowers include loans big enough to buy larger homes and more financing as more lenders participate in the program.
States have restrictions on weight, size and width that may prevent you from moving your home. If you relocate, make sure you use a professional transporter; never try to move the home yourself.