![]() Modular homes are a type of manufactured housing that are built-in modules-off site, and then assembled at their final location, on a permanent foundation. There are no delays in searching for suitable subcontractors or tradesman prioritizing other jobs.” Manufactured housing plants can buy materials in large quantities, further saving on costs. As Mark Bowersox (EVP of Industry Relations at the Manufactured Housing Institute) has explained, “In manufactured housing plants, the home moves down a planned path while specialized tradesmen complete each step. Why is manufactured housing such a bargain? The building of these homes has become so efficient that they are able to avoid a lot of the labor and specialized material costs associated with building onsite. ![]() In fact, manufactured housing costs about a third of traditional housing in Virginia, on average: $117,000 vs. As mentioned above, a major benefit of buying a manufactured home is the cost, making them a great option in affordable housing for older adults on a budget, low-income families, and those looking to save money without sacrificing amenities in a tight housing market. While older manufactured homes suffered from high utility bills due to poor airflow and insulation, new homes can have upgraded features that make them feel and function much like a traditional home. Manufactured homes usually come in three sizes: single-wide (750-1,050 square feet), double-wide (1,067-2,300 square feet), and triple-wide (size varies, based on configuration). In fact, moving a manufactured home after installation can make it ineligible for financing (more on this below). In 1976, HUD began to require certain safety standards for mobile homes, including a permanent chassis, at which point the term ‘manufactured’ replaced the term ‘mobile.’ Although manufactured homes can be moved, they are now usually kept in one place, and attached to permanent foundations. Previously called mobile homes, these are prefabricated homes that at one point were built on a chassis with wheels, designed to be moved from place to place-in other words, to be ‘mobile’. But what’s the difference between the two? What is a manufactured home? Both types of housing can save you time and money if you are looking for a new home, and fulfill an important need in the housing market. These are homes that are built on assembly lines in plants or factories and transported to their permanent location. Modular homes and manufactured houses are types of prefabricated construction in which homes are built off-site. Keep reading to learn more! What are Modular and Manufactured Homes? In this post we’ll discuss what exactly modular and manufactured homes are, why they can make good cost-effective housing choices, and different ways buyers can finance their homes, depending on their needs as well as the nature of their home. ![]() Although it can sometimes be as straightforward as financing a traditional home, that’s now always the case. But if you’ve decided that a manufactured residence might be the right choice for you and your family, you may be wondering how to finance your new home. With quick turnaround times for new construction and low costs-merely a fraction of site-built homes-systems-built homes create valuable affordable housing opportunities for first-time home buyers, retirees, and anyone on a budget looking to find a quality home in the face of rising costs. In fact, last year there were more than 1,000 new manufactured homes shipped to the state. With improvements over quality and style over the years, this form of housing has become an increasingly popular alternative to traditional homes.
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