Ready to Buy? How to Save Money on Your Manufactured Home

Ready to Buy? How to Save Money on Your Manufactured Home

The most recent federal data indicates a marked upswing in the U.S. economy since the start of the year, with the government reporting robust hiring figures, the rate of inflation slackening and unemployment at its lowest level since 1969. These developments have already led the Federal Reserve Board to rethink its strategy of dramatically hiking interest rates to ward off the threat of recession.

This last is particularly welcome to anyone considering jumping into the housing market this spring, and that includes potential manufactured home buyers. It’s worth noting, however, that no matter the state of the American economy, there are several concrete steps anyone looking to purchase a manufactured home can take to ensure they get the most for their money.

Know What You Want: A crucial first step is to sit down and determine just what you are seeking from a manufactured home and how much money are you comfortable spending. Take the time to research a wide range of manufacturers to determine what they have to offer and to identify the floor plan and features that work best for you.

Go For the Upgrades: While upgrades certainly will increase your prospective unit’s price, it’s worth noting that smart upgrades pay for themselves very quickly. These include shingled roofs rather than flat ones, upgraded insulation, exterior wall studs 16 inches apart (as opposed to 24 inches) and virgin vinyl siding rather than metal or hardboard.

Study the Market: Once you’ve determined what you’re looking for in a manufactured home, it’s time to cross-reference that information with what similar units are going for in the area you want to live. This research also will give you a pretty good idea of the stock available at local dealers and enable you to identify truly competitive quotes more readily.

Call an Escrow Company: Hiring an escrow company that specializes in manufactured housing will make it easier for you to navigate the entire buying process. Manufactured home escrows are vastly different from standard escrows and the company’s experience and expertise could prove invaluable. In addition, an experienced firm has inside knowledge regarding the range of dealers, private property sales and Realtors in your area. This insight might save you thousands.Apprise an Appraiser: It always smart to know what you’re buying for you buy it and manufactured homes are no different. Once you have identified the unit you want, hire an independent firm to appraise its true market value. You can also check the “blue book” value for similar makes and models.

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At Harmony Communities, we feel strongly that each resident has a sense of home. That they come home from work and feel pride in their environment and in their place in the greater community. That families are comfortable raising children in our neighborhoods, and that couples and singles know that they belong to something bigger than their four walls. In other words, we seek to create harmony within each community, making our communities not just passable, but peaceful, safe, functional, and beautiful.