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Are Modular and Manufactured Homes a Good Investment?

are modular homes a good investment?

Are you looking for a quality home to purchase for your family, or have you been considering purchasing a home to use as a rental investment? You may not have to look any further than a manufactured home or modular home. While this may not be your initial choice, going over modular and manufactured home pros and cons may help settle your mind and show you just how good of an investment this can be.

Buying a Modular or Manufactured Home Pros and Cons

Making a list of pros and cons is a smart step to take when making any important decision. A simple pros and cons list will be incredibly helpful when it comes time to make your decision for purchasing a manufactured home.

First, you will want to know about the perceived disadvantages of modualr and manufactured homes. You may have to purchase the land to place the home on, but this would be the same as with any new home. You may also need to look into local zoning requirements for a new manufactured home. Also, keep in mind that the exterior of your home may look quite similar to others in your neighborhood. Once again, this is often the case with traditional homes these days as well.

Next, you should consider the benefits of modular and manufactured homes. While they may only have so many exterior customization options, they can be highly customized inside, and some even offer impressive upgrades for porches, master suites and luxurious kitchens. Because they are made in a factory, they are incredibly durable, and they can be put together quickly once they arrive at the site.

Resale Value of Modular and Manufactured Homes

Even if you love your modular or manufactured home, you may need to sell it in the future. Not only are these homes incredibly affordable initially, but also the resale value of manufactured homes tends to rise over time. They are becoming quite popular in many areas, and home buyers know that they rarely need much maintenance when compared to their traditional counterparts. Modular homes typically increase in value even more rapidly because they are tied to the land where they are built.

How Long Do Modular and Manufactured Homes Last?

If you have asked yourself how long do modualr and manufactured homes last, you are certainly not alone because this is a concern among many home buyers. Some believe that they are designed to be temporary, but this simply is not true if you look at their history. While they can be moved around, they actually tend to last just as long if not longer than stick-built homes do because they are framed in a manufacturing plant and often have metal exteriors, which stand up well to the elements.

As you can see, a manufactured or modular home can be a great investment for first-time homebuyers, those looking to downsize their homes and even individuals wanting to purchase rental properties. These homes are typically cost-effective to own, last for decades and require little maintenance, making them a home owner’s dream.

Interested in learning more about modular and manufactured homes? Contact us today!

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