There is an old real estate mantra of “location, location, location.” But if you’ve shopped for a home before, or are shopping for one now, haven’t you had times that you found the ‘right home,’ but it wasn’t in ‘the right location?’
One of the advantages of a buying a new manufactured or modular home is that you can find a location and then order the home for that location that fits your style, budget and needs.
The smarter way to shop for a home today is to:
Get pre-qualified for your financing. Find out what your total budget can be for home, land and improvements. If you are a cash buyer, then you already know your total budget for home, land and improvements.
Once you know what that total figure is that either you planned cash purchase or what a lender can loan you, plus your down payment, now you are in a position to shop intelligently for a home.
Because a recent U.S. Census Bureau study reveals that modern manufactured homes cost about half as much as conventional site building does, you can typically purchase more home for the same money, or you can get the same size home for less. Either way, the manufactured home buyer can be the winner.
Another way that individuals purchase a manufactured home is by purchasing the home in or for in a land lease community. A land lease can mean that you save the up-front costs of that land, while you will still have a similar monthly cost for leasing a site. Depending on your state, a land lease may also give you a more favorable tax treatment on your new or pre-owned manufactured home as well.
Whichever method makes the best sense for you and your household, learning the many advantages of manufactured and modular home construction just makes good sense. ##