Should you say yes to a manufactured, modular, or site-built home?

You're excited. It's time for you to buy a home. You've been saving for years, and it's finally a possibility. You're considering a manufactured or modular home. What is the difference between the two, and which one should you choose?

What is a Manufactured Home?

It's easy to get confused between modular and manufactured homes. In fact, even salespeople put the two terms together sometimes. However, there is a difference.

A manufactured home is what is commonly referred to as a trailer or a mobile home. However, a manufactured home does not need to look like an RV. In fact, many manufactured homes have gorgeous styles.

Unlike other homes, manufactured homes are built in a factory. Rather than conforming to local building codes, manufactured homes are required to conform to the HUD code instead. Inspectors examine whatever work is done on site, but they are not responsible for inspecting the building as a whole.

These homes roll to the building site, and they are not always on a permanent foundation.

What is a Modular Home?

You probably will not be able to tell that a home is a modular home unless you ask. In fact, you may have lived in one in the past without knowing it. A modular home is not built on site. It's built in sections at a factory and like a site-built home, it conforms to local building codes. A modular home is a house-sized puzzle. The sections arrive at the building site and are joined by contractors. Over time, the modular home should increase in value as other homes in the area do, and it should last about the same amount of time as well.

Both manufactured and modular homes can have beautiful, spacious interiors.

Making the Choice

It can be hard to choose what kind of home to buy. If you are on a tight budget, manufactured homes are less expensive than modular or site-built homes. However, it can be harder to arrange ongoing financing for them if they are not in a permanent location. They also depreciate over time, so while they're less expensive initially, they are less lucrative to sell.

When you're thinking about your decision, you also need to think about where you plan to live. Modular homes can be placed almost anywhere, whereas manufactured homes may be restricted in some places to trailer parks or manufactured home communities. You will have to check out local restrictions regarding modular and manufactured homes before you choose which is appropriate for where you want to live.

Consider whether the look of a manufactured home appeals to you. While they can be attached to other segments, these homes are often one-level and do not look entirely like a stick-built home.

At Open for Homes, we know that when you buy a home, you're making a huge decision for your family. Learn more about the options before you buy. Visit the blog at Open For Homes today.