Most lenders treat modular homes like site-built homes, enabling standard mortgage terms. Some parks in New York have age restrictions, often 55+, creating communities specifically for older adults. In New York, residents of mobile home parks may face rent increases on their lot, which can impact affordability.
Mobile homes are generally more affordable than traditional site-built homes, making them an option for first-time buyers or retirees. Modular homes can be placed on full basements, crawl spaces, or slab foundations, depending on local requirements in New York.
Some modular homes are designed to allow future upgrades easily. Mobile homes are generally more affordable than traditional site-built homes, making them an option for first-time buyers or retirees. Some modular home companies secure government contracts for affordable housing projects.
HUD code includes strict standards for fire safety in manufactured homes. Some parks have age restrictions, often 55+, creating communities specifically for older adults.