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| | | Although most people call them mobile homes, the official name (since 1976) is "manufactured houses" or "manufactured homes." They're a less-expensive alternative to traditionally constructed houses, and they range from basic narrow structures to spacious homes with carefully crafted floor plans that can include amenities such as cathedral ceilings, walk-in closets, recessed lighting and skylights | | |
| Typical costs: | - The average sales price nationwide for a new manufactured home in 2007 ranged from $37,100 for a single-wide and $73,600 for a double-wide (not including land), according to an annual report by the Census Bureau and the Department of Housing and Urban Development. Regionally, the lowest average price was $35,900 for a new single-wide in the Midwest and $83,800 for a new double-wide in the West.
- Many new manufactured/mobile homes are set up in developments/parks, where the home owners pay monthly fees/space rent of $100 -$800 or more, depending on location and park amenities. Other manufactured homes are set up on private acreage in rural areas. For these there may be additional costs for installing a foundation, utilities, decking and landscaping. Costs vary widely depending on location and choice of materials. The Department of Housing and Urban Development (HUD) provides a 112-page guide to manufactured home foundations.
- Used double- or triple-wide mobile homes tend to hold their value better than single-wides. Prices can range from nothing or next to nothing for homes where people just want to be able to walk away from the monthly space rent on an older home, to $10,000 -$250,000 or more depending on location, age, size and amenities. MHBay.com lists used mobile/manufactured homes for sale by state.
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| What should be included: | - Mobile or manufactured homes are built in a factory and transported to the site they occupy. Overall size is limited by what can be towed by a tractor-trailer on public highways. Single-wide mobile/manufactured homes are a maximum of 18 feet wide and 90 feet long. Double-wides are at least 20 feet wide and a maximum of 90 feet long, and are towed in two separate units that are joined together at the site. There are triple-wide and homes with four or more units, but they are less common. Some modern manufactured homes are two-story.
- HUD's Office of Manufactured Housing programs provides consumer information about mobile/manufactured home purchasing and ownership and AARP lists manufactured housing issues.
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| Additional costs: | - If you're buying or selling a used mobile/manufactured house, NadaGuides.com will provide a detailed retail value report for a 1969 or newer mobile home for $20, or sells a manufactured housing cost guide for $60 -$120. There are a variety of guidebooks for buying manufactured homes selling for $10 -$40.
- It can sometimes be difficult to obtain financing to buy a used mobile/manufactured home (especially for single-wide and/or older models on rented land), and often interest rates are higher than for loans on conventional site-built homes. Mobile/manufactured homes are considered property rather than real estate, and usually they're registered as a motor vehicle (although most of them are never moved again once they're installed).
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| Shopping for a mobile home: | |
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Article updated July 2008 |
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