Traditional Vs. Manufactured Housing

A traditional, wood frame home

A traditional home is built individually and directly on the land where it will rest permanently. Manufactured housing is built in a factory and transported to the homeowner's lot.

Significance

There is a large price differential between traditional and manufactured housing. In most cases, manufactured homes are much less expensive than traditional homes.

Function

Manufactured homes give homebuyers a cheaper option, and allow them to rent the land on which the home sits. Traditional homeowners must own both the house and the land.

Types

Traditional homes can vary greatly in size and price. However, manufactured homes are usually either single or doublewide homes, and there is not a huge variation in prices.

Considerations

Manufactured housing could enable a homeowner with a smaller down payment and income to qualify for home ownership, especially if a traditional home is out of his price range.

Misconceptions

While a manufactured home can be moved from one location to another, most are skirted and attached to a permanent foundation.

References

• ModularToday.com: Modular Homes, Mobile Homes, & Traditional Homes
• BankRate.com: Financing A Manufactured Home