Many residents own their mobile homes but rent the lot in a park, which can impact security and cost. Manufactured homes can include high-end features like granite countertops and hardwood floors. In remote areas near Elizabeth City, modular homes offer housing solutions in otherwise inaccessible locations.
Unlike manufactured homes, modular homes can be built with multiple stories. Some investors buy mobile homes in parks as a source of rental income due to low initial costs. Some modular home companies secure government contracts for affordable housing projects. Manufactured homes are popular in retirement communities, particularly in warm states. Many modular companies offer custom design services to meet client specifications.
Manufactured homes can include high-end features like granite countertops and hardwood floors. Financing for manufactured homes can be through chattel loans, FHA loans, or even VA loans in some cases. Some modular businesses provide off-grid options, including solar power and water catchment systems. Many new manufactured homes can qualify for Energy Star ratings, helping owners save on utility bills.