Manufactured homes on land are appraised similarly to site-built homes, factoring in both land and structure. Older mobile homes may not meet modern building codes, which could limit where they can be placed.
Modular homes are built to withstand transportation, making them durable and well-constructed. Modern manufactured homes are built to last, often with warranties on structural components. They’re often built to the HUD (U.S. Department of Housing and Urban Development) code, which includes standards for safety, energy efficiency, and construction. There’s a growing resale market for well-maintained mobile homes, especially in high-cost areas. Financing mobile homes can be tricky, as they may be considered "chattel" loans, with higher interest rates.
Many modular companies offer custom design services to meet client specifications. Many manufactured homes offer amenities like walk-in closets, spa-style bathrooms, and chef’s kitchens.
Modular factories employ in-house labor, cutting down on subcontracting costs. Automated factory processes ensure precision and reduce construction errors. Manufactured homes on land are appraised similarly to site-built homes, factoring in both land and structure. Mobile homes are particularly popular in rural or lower-cost housing markets. Modern manufactured homes are built with high wind resistance to minimize storm-related risks.