Modular And Manufactured Homes In The Current Housing Market

The sub prime mortgage crises is responsible for bad news across the entire financial markets. You can’t read financial news without hearing about it. With no one capable of making payments, especially given the rising interest rates on adjustable ARM mortgages, and too many homes already on the market, home owners forfeiting their house back to the banks can only make things worse.

The financial concerns are hard to eclipse, but the social concerns are certainly something to look at. These people forfeiting their houses have nowhere to go! Living with their parents again, downsizing to apartments, etc. are all viable solutions, but none are very inviting after giving up your home.

Fortunately, modular homes are becoming increasingly popular and serve as a viable alternative to those who are out of a home, and don’t have any riches to show for it. Although modular homes are usually associated with manufactured and mobile homes, which leads to connotations of trailer trash, modern, properly-manufactured homes are far from trailer trash with today’s manufacturing abilities. Decent modular homes can be had for a hundred grand or less! And they’re built well, and can be ordered to fit your needs before being delivered to your location.

Setting the foundation and installing utility lines will add a bit to your expenses, but it’s a small price to pay when you think about the cleanliness of an uninhabited brand new home that you can customize and call your own. You specify anything you want:
- Floor plans can be set by you as you please
- Cabinet types and styles can be hand-selected
- You can even specify the stud size for the walls!

The housing rep for your home will sit down with you and help you understand all of the options at your disposal. In as little as eight weeks, up to potentially a few months (if there’s a backlog), you could have a customized home ready to live in.

Downsizing is never pleasant, but at least with modular and manufactured homes, you can downsize to something more practical, not just smaller. Eliminating wasted space, and replacing it with the exact housing layout that fits your family’s needs saves you money and space. An affordable alternative to paying a large mortgage, modular and manufactured homes are definitely something worth considering.

VA and FHA loan programs are suitable for buying modular and manufactured homes.