Can you tell me the pros and cons of a manufactured home?

Question

Can you tell me the pros and cons of a manufactured home?

Answer 1

The pro is that they are great places to live and easy to maintain.

The con is that they are more like refrigerators than houses. They go down in value each year.  Don't let anyone tell you that this is not true.  It's true.

Answer 2

Pros:  Cheap and fast.

Cons:  If it arrives at your home site in pieces, it is going to be harder to resell down the road and is not a good investment.

Answer 3

manufactured homes are the same as stick built homes.  the manufactured home is done off site and is faster.  there are some fine homes that are pre built  not cheaper. good luck

Answer 4

Con: they are generally more expensive to insure

Answer 5

Georgia mom is referring to mobile homes, which are one type of manufactured home.

The others are referring to panel-homes, which have multiple other names and are another type of manufactured home.  

Mobile homes are inexpensive (to buy), and, sometimes of questionable quality.  They are also expensive to finance and can be expensive to maintain.  If you're going to live in a manufactured home park, you will have lot rent on top of your payment.  And your payment will likely be high compared to a traditional mortgage, as mobile home loan rates are typically

higher and amortized over a shorter term.

Panel-homes are very comparable to traditional, site-built homes.  You will notice little diference as far as livability.  One advantage is that your materials never sit in foul weather during construction, since they're built in a factory and assembled at your site.

Answer 6

Pros: cheap

Cons: cheaply made, they depreciate in value like a car, a lot of lenders won't loan the money for them and if they do, the interest rate is a lot higher than a regular home. Poor resale value.