Some investors buy mobile homes in parks as a source of rental income due to low initial costs. A large percentage of affordable housing in the U.S. consists of mobile and manufactured homes. Specialized insurance can cover the full replacement value of the home in case of severe damage. Modular homes are increasingly popular, especially in high-demand areas like Spartanburg with limited housing.
Modular companies can produce both permanent homes and temporary commercial structures in cities like Spartanburg. Manufactured homes must meet HUD standards that cover design, durability, fire resistance, and energy efficiency.
Since modular homes are built concurrently with site preparation, build times are much shorter. Many residents own their mobile homes but rent the lot in a park, which can impact security and cost. Modular homes can feature large windows, minimalistic designs, and natural materials. Once on-site, modular homes undergo local inspections to ensure compliance with local building codes. Modular homes have resale values comparable to traditional homes.