The Biggest Lies About Manufactured (Mobile) Homes!
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- čas přidán 31. 07. 2024
- Debunking The Top Myths About Affordable Manufactured Homes! Manufactured (mobile) homes are often subject to many misconceptions that can dissuade potential buyers. Here are some of the most common lies about these homes:
Quality and Durability: Many people believe manufactured homes are low-quality and not durable. However, modern manufactured homes are built to stringent federal standards, ensuring safety, durability, and energy efficiency.
Depreciation: It's a widespread myth that manufactured homes always depreciate in value. Like site-built homes, their value can increase depending on the market and how well the home and land are maintained.
Safety Concerns: Some think these homes are unsafe in extreme weather. In reality, manufactured homes are built to federal HUD standards that include strict regulations for wind resistance, fire safety, and overall construction quality.
Affordability: Some believe manufactured homes are no longer affordable. While prices have risen in recent years, they still generally offer a more affordable housing option than traditional site-built homes.
Design and Customization: Another myth is that manufactured homes lack design and customization options. Modern manufactured homes offer a wide range of designs and features that can be tailored to individual preferences.
These misconceptions can prevent people from considering manufactured homes as a viable and attractive housing option.
Disclosure:
Please note that all the information provided on this CZcams channel or through it is only for entertainment and educational purposes. The owner of this channel, Jimmy Bitzas, is not a realtor or a financial planner and cannot guarantee the accuracy of the information shared in this video. The information shared is subject to change, as is the nature of the fast-paced world we live in. Jimmy Bitzas cannot be held responsible for any errors in the information shared or any injuries or damages that result from the use of this information.
I've been on the admin side of the real estate business in Central Florida since 1994. I've been a realtor since 2006 and retiring this year. I'm selling and leaving the state for numerous reasons and will probably buy a manufactured home so I really enjoyed this video. I listened to several of your other videos today and you are bringing good value to people so keep up the Great work!
Thanks for sharing!
Old tropes are slow to die if they ever do. Here is one example for out of date ideas: on ITH's tiny home channel they were highlighting their model with 370 sq. ft. for $119,900. I commented that it was cute but for a few thousand more that a buyer could get a similar style single wide with 840 sq. ft. and two porches for $125,000 from RRC. One reply to my post said that the single wide was just a mobile home and it wasn't quality, that there was no comparison. I pointed out that that the Tiny only met RVIA standards, vs. the single wide built to HUD manufactured standards - and this single wide has James Hardie 30 year siding, Trex 30 year porch floors, and a metal roof also with a 30 year warranty. I should have mentioned that one big reason why Tiny's have such a high per sq. ft. cost is from lower volume production and more custom size components and less standard size parts. Its not because they are built better. Bottom line: no matter what you buy - get an inspection before you sign off and take delivery!
I've been living in trailers practically my whole life.
The only real problem with them is they are sometimes cheaply made and shit breaks easier than it would on an actual home.... like the facets and outlets.
But I'll tell ya if you get some land and buy a double or triple wide manufactured home you can put it on a basement and have a way better home than one built on the spot. At least it would cost you half the price for twice the space. The downside as I said is the quality of things like facets and walls. I know I got a new 2017 one (financed btw) and my walls are styrofoam.... literally when I went to install my CCTV I found out that below the siding is just styrofoam. The walls still have wood studs and I would assume a wooden frame to hold the walls up... but the outside walls are literal styrofoam with siding on the outside. Very insulated though. The inside walls are your standard drywall. Yes they are made cheaper by being 'manufactured' but they ALSO use cheap supplies to build it. You can say you worked on them for years but you really don't know unless you have LIVED in them like I have. I'm 43 years old and spent at least 35 of that in trailers. Welcome to poverty.
Thank you for the feedback. It’s greatly appreciated.
Warning: Do not make investment in a home that is on some else's land. You are an owner subject to the land rent increases at the discretion of the park owner.
I agree with your statement 100% thank you for commenting.
We own our land and they tried to force us to put our land up for colateral and they were going to ultimatly charge us half a mil to buy a manufactued home over the life of a 15 year loan. After doing the math we walked away. If we would have missed a pament for any reason they would have cleaned us out and taken everything we had.
Yes, I hear that a lot. You have to, be careful who does the financing
When you place them in a trailer park are they really that cheaper? In the long run the fees just to have them out weighs it.
True much cheaper in a park
@@exploringwithjimmyb Its the opposite.
you clearly have never lived in one. YES even in a park they are MUCH cheaper than a house. wtf do you mean the 'fees'? That's called rent. Everyone pays it. Whether it's a mortgage, lot rent or rental agreement. Trailers will always be cheaper than a home. Lot rent on top of your trailer payment is STILL less than a home in the same area.
@@Sudas80 I sold my 16x70 mobile home in 1994. I was paying 343 a month in lot rent that is 4116 a year which is double what I pay in property taxes on my 200 thousand dollar payed off home now. Yes a mobile home is cheaper than a house but they are nothing more that a tuna fish can. In the long run with the lot rent you pay which is a rip off that cost more than a house. Its called math genius.
Nobody Owns there Home, You Pay Real Estate Taxes, the County Owns Your Land, and Land Rights. If you do not pay taxes for 2 years, the County can Take " Their Property Back " just for the price of the Taxes. All New Homes are using 24" walls Now, the 16" between studs went extinct, I believe in the 80's . I owned a " Manufactured home on a Lake, that was 4 Bedroom 2 1/2 Bathroom and Full Basement. No way would you know it was a Manufactured home, only Knew because the Home Inspector told me so. This was Not in a Mobile Home Community, but a HOA Lake Community. I have seen Mc Mansions being Built, they Look like Sh*t, Made like Crap, and Come " Pre-Built " on the backs of Flatbed Semi Trucks. Looks Just like a Manufactured home to Me !!!!
Very true statement I see that a lot also thank you for commenting. It’s greatly appreciated.
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Bro do your research most manufactured homes used 3-inch studs and space some 24-in not 16 in like standard homes
Yes in some but depends on the factory and location.
What about resale financing? It's not hard to get financing on a 20 year old house, but what about financing a 20 year old modular home (on a permanent foundation). Every time I've been house hunting the realtor says it's hard to get financing (3 times over the past 20 years) Is this changing or is there a specific year of manufacture that it becomes easier?
I'm closing on a manufactured home on July 19th. The home was built in 2002 and the inspector said it is in great condition. It's on the original piece of land since being built and with a permanent foundation. No issues getting financing at all. The interest is slightly, and I mean slightly, higher than a traditional home. Sounds like you might need to get another realtor! I think if you move a manufactured home from one location to another, that may be an issue.
I know a lot of modular homes that do conventional financing and they’re older with no problems, including manufactured homes, especially if on improved Land
I'm all for producing lower cost housing, so I am a supporter of manufactured houses. I would not want to live in one though. I took a fire science course several years ago and we watched a video of how fast a manufactured home caught fire. It was fast, as in seconds. The Instructor told us manufactured homes don't have to adhere to the same building codes regarding flammability of building materials. Not sure if this is/was true, or true today, but I found it rather eye opening. Maybe this is another misconception you can bust 😅. I appreciate your videos, btw.
Very interesting information and it’s greatly appreciated. I am reaching out to two manufacturers to see if I could visit their factories so they could explain it themselves. Thanks again.
That is not true today. Older "Mobile" built prior to the 1976 act that was probably true. Today's manufactured homes use the exact same materials used in stick built housing. All the listings, flamespread ratings, etc. are the same.
If people are worried about it, just don't buy a new house. Find an existing good home for sale in a good neighborhood. I believe there is a big difference between manufactured and modular housing especially when it comes to looking like a real stick built home. Modular homes are usually bigger and most wouldn't be able to tell that it is not a stick built home. You will find out very quickly from a realtor and loan officer if a modular home will work for you.
It is hard to tell the difference between a modular and a manufactured home. Thank you for commenting. It’s really appreciated.