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Understanding the Differences Between Mobile, Modular and Manufactured Homes

By Edited Oct 27, 2013 0 0

You know of mobile homes which are stereotypically attributed to low income earners. Unfortunately, this has also created zoning restrictions and other prejudices. But with the onset of manufactured and modular houses in the housing and real estate industry, more and more families from low to medium income earners bracket are now getting their chance at owning their very own houses instead of getting mobile homes. A trinity home mortgage is a proposal that you may want to consider in order to get that home.

Manufactured and modular homes are now known as good as the site-built houses but these houses are generally more reasonably priced and have their advantages compared to the customarily built houses. They are appraised like ordinary houses. Most manufacturers or builders are giving the owners templates for houses and also allow them to make the changes that they think will better suit their families' needs. The idea for building this kind of homes are rooted in the fact that site built houses are expensive and any modifications will cost you more money; whereas for the factory built homes, you have more control on the design and you will definitely get the type of dream house that you want.

Mobile, modular and manufactured houses are not the same. Mobile homes are basically the trailer houses that we are all familiar about. Modular homes are those houses that are built in sections which are the transported to the area or land where local contractors build the house. A well-built modular home promises longevity comparable to that of their site-built counterparts. While manufactured houses are built in a factory and on a non-removable steel chassis and since they are not always placed on a permanent base, it is more difficult to finance and is less expensive than modular homes. Manufactured homes may also decrease in value over time.

The buyer will have the luxury to choose floor plans and designs at fixed prices. These prefabricated houses are made in factories. This idea was all built in the premise of mobility but this has grown into a real estate industry on its own.

The factory-manufactured and modular homes in the earlier years of its inception have received negative perceptions because of its low cost. These houses depreciate quicker than site-built homes and are regarded as riskier loans than traditional homes. Getting a trinity home mortgage for a manufactured home is the same as getting any other types of home loans. However, the type of mortgage resembles more like an automobile or personal loan.

Buyers must take extra caution before entertaining the idea of buying these types of houses. Before signing the final purchase deal, one needs to carefully check the house for defects and must personally supervise the set-up process. If you have already made the purchase with a reasonable trinity home mortgage, you should proceed with careful inspection after the installation. Make sure that all the documents pertaining to the purchase are complete and take time to review the homeowner's guidelines, maintenance schedules and warranty.



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