Someone shopping around for a new home may want to consider looking for a non-traditional solution like a mobile home, manufactured home, or modular home. While these are similar types of homes they do have their differences.
Similarities
Unlike the traditional homes that are built by construction workers on-site, these non-traditional living quarters are built in factories based on specific layouts and designs. Simply put, these are pre-fabricated houses that you will need to purchase from the manufacturer or a dealer. Once these homes are completed, they can be relocated to the place that the buyer designates.
Mobile Home
Firstly, the mobile home is considered to be the most popular version of the prefab home. Dating back to as early as the mid-1900s, the original mobile homes provided their owners with the ability to relocate easily to find work while also providing a stable environment for the family.
The mobile home has evolved over the years in a number of different ways, especially since they had to meet specific standards. Mobile home normally refers to the non-traditional homes that were built prior to 1976. The standards followed adhere to the National Home Construction and Safety Act of 1974.
Manufactured Home
Similar to the mobile home, the manufactured home is also another option, however, the manufactured home takes prefab construction to a completely new level. It offers families a chance to buy an amenity-filled home at significant discounted costs compared to the traditional home that is built on site.
Also, it is important to note that manufactured homes were initially built in the year 1976, and their building standards were based on the laws that govern them at that time. One of the primary benefits of the manufactured home is its highly customizable features including floorplans. When this home is fabricated, its construction can be placed in a permanent place.
Modular Home
Modular homes can be described as being very similar to manufactured homes, especially since the floor plans can also be customized to the buyer’s preferences. However, modular homes are constructed in pieces. When they are transported to the intended location, they can be moved separately. For instance, if a modular home has 5 pieces, they are all moved separately to its site, and then assembled accordingly.
Financing
Manufactured, modular, and mobile home financing is also different from traditional home mortgages. It is imperative that prospective homeowners do their research first. For instance, loan companies may only approve the financing for a manufactured home based on certain provisions. One of the most common provisions involves placing the manufactured home on a solid foundation after it is transported to the property.
If you are thinking about buying a new home today, you may want to consider all of your options, including buying a mobile, manufactured or a modular home. However, before you make your final decision, you need to understand the differences between each based on your personal preference and needs. From purchasing a luxury customized manufactured home with lots of additional space to making an investment in a small modular home that has to be assembled on site, each non-traditional home has own unique advantages.
