Manufactured Housing News

Manufactured homes have become a popular housing option thanks to their affordability, flexibility, and modern features. If you’re thinking about buying a manufactured home, you might be wondering about the cost. While manufactured homes are typically more affordable than traditional homes, their price can vary depending on several factors, including size, features, location, and installation costs.

Average Cost of a New Manufactured Home

The cost of a new manufactured home depends on the number of sections and the customization options chosen. Here’s a general breakdown of average prices:

• Single-Wide Manufactured Homes: These are the most affordable option, typically ranging between $50,000 and $100,000. Single-wide homes are usually between 600 and 1,300 square feet and feature a compact yet functional layout.
• Double-Wide Manufactured Homes: These larger homes can range from $100,000 to $150,000, offering more space with an average size of 1,000 to 2,300 square feet. Double-wides often have multiple bedrooms and bathrooms, making them ideal for families.
• Triple-Wide or Multi-Section Homes: These homes start at least around $150,000 and can exceed $250,000, depending on the size and customization. They can offer more living space, luxury finishes, and additional rooms.

Factors That Influence the Pricing

Several factors determine the final cost of your manufactured home:

1. Size and Layout

Larger homes with multiple sections cost more due to the additional materials and labor required for construction. The floorplan, including the number of bedrooms and bathrooms, also affects the price.

2. Customization and Upgrades

Manufactured homes come with a lot of customization options, from flooring and countertops to upgraded kitchen appliances and energy-efficient features. High-end finishes and customizations will increase your final cost.

3. Location and Delivery Costs

The price of a manufactured home varies by region due to differences in land costs, labor rates, and transportation expenses. If your home has to be transported a long distance, delivery fees might add several thousand dollars to the total cost.

4. Foundation and Installation

Unlike mobile homes of the past, modern manufactured homes often require a permanent foundation, which can cost between $5,000 and $25,000, depending on the type of foundation chosen. Additional installation costs, including plumbing and electrical connections, also add to the overall price.

5. Land Purchase or Lease

If you don’t already own land, you’ll need to factor in the cost of purchasing a lot or leasing space in a manufactured home community. The price of land varies greatly depending on the location and whether utilities are readily available.

6. Financing and Loan Costs

Manufactured home financing options, including personal property loans (chattel loans) and mortgage loans, impact the overall cost due to interest rates and loan terms. But traditional mortgage financing could be available, if your home is placed on a permanent foundation and classified as real estate. Use Triad's mortgage calculator to help determine your budget.

Other Costs to Consider

Other than the base price of the home, potential buyers should also budget for:

• Permits and Inspections: Required permits can vary by state.
• Utilities and Hookups: Setting up water, sewer, and electricity connections.
• Skirting & Steps: Many manufactured homes require skirting and entry steps.
• Landscaping and Driveway: Depending on your location, landscaping and adding a driveway can add several thousand.

Is a Manufactured Home a Good Investment?

Manufactured homes provide an affordable homeownership option, offering flexibility and modern features at a fraction of the cost of site-built homes. However, their value can fluctuate based on location, land ownership, and long-term maintenance. Placing the home on a permanent foundation and keeping it well-maintained can help retain its value over time.