Q:

What are some tips for purchasing a manufactured home?

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Manufactured homes are trailers or mobile homes, which makes them very convenient to move and less of an investment, notes the International Association of Certified Home Inspectors. However, this means that new homeowners must also buy or rent a piece of land upon which to set their home.

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Full Answer

Home buyers should also be aware that lenders can be hesitant to make loans on manufactured homes due to their mobility. It is easier to get a loan for a manufactured home that is set up on a permanent foundation, notes State Farm Insurance.

Anyone who is not planning on staying in the home long term may want to reconsider the purchase. Manufactured homes have a low resale value, which makes it difficult to get that initial investment back.

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