Considering buying a manufactured home? Wondering what they are and what you need to know?
We asked the Federal Trade Commission (FTC) to give us the low down on manufactured homes.
We know: How to Buy a Manufactured Home
What’s a manufactured home?
Manufactured homes are pre-made, factory-built homes that can be installed on your own land, in a rental community or in a planned subdivision. They are built to meet federal Manufactured Home Construction and Safety Standards.
How much do manufactured homes cost?
Manufactured homes come in lots of styles, sizes and floor plans. Generally, they range in size from 900 sq. ft. to 2,500 sq. ft. and in price from about $15,000 to more than $100,000, not including the purchase of any land.
What standards does the federal government regular in these homes?
The Department of Housing and Urban Development (HUD) regulates home design, construction, strength, durability, transportability, fire resistance, energy efficiency, and sets standards for heating, air conditioning, plumbing, thermal and electrical systems.
Do manufactured homes come with any warranties?
All manufacturers offer a warranty that should cover:
Where do I buy a manufactured home?
Manufactured homes are sold through retail sales centers, manufacturer centers, and manufactured home community developers. You can buy a previously owned manufactured home through a real estate agent.
Can I move a manufactured home?
Yes, but it can cause stress on the structure. Check with state authorities about zoning and about how to transport the home.
What costs can I expect when I buy a manufactured home?
Usually, you’ll have a mortgage payment, property taxes, land rental fees, insurance, and other service fees such as utilities.
How do I finance a manufactured home?
Financing is similar to convention homes—with down payment options and loans over 15 and 30 years. Check with the retailer from whom you buy the home for more information.