Single-family homes, condos, apartments—all of these have one thing in common: Realtors in NJ are eager to buy them when they are for sale! In addition, these types of buildings are typically constructed in a traditional manner, with materials being brought to the site and assembled to form the home, which sits on a foundation. On the other hand, manufactured homes are factory-built, and typically factory-assembled, arriving on the plot of land ready to stick on a foundation, or sometimes, still on wheels. “Mobile homes,” “trailers,” “manufactured homes,” and “modular homes,” on the other hand, all have in common the fact that they come pre-assembled, and sometimes they can get a poor reputation. Should you invest in manufactured homes for sale? Keep reading to find out the pros and cons from Realtors in NJ.
Buy a Manufactured Home For Sale if This is True
Manufactured homes are valued for their cost-effectiveness and speed. They are the solution for low-income households, for adding extra living space to properties, and for building homes in difficult areas where materials and delivery may be complicated, like in mountainous areas. If you are buying a manufactured home, you should have done all your research to make sure you can build it in your locale, and that it is up to code. Some investors buy properties with manufactured homes, knowing that the home can be easily removed if the value of the land increases with ongoing development. If this matches your situation, buy a manufactured home!
Avoid Manufactured Homes if This is True
There are many drawbacks to manufactured homes as well. Banks may not be willing to give you a traditional loan, especially if you do not own the property. You may pay more for insurance, and the resale value is somewhat questionable.
Should you invest in a manufactured home for sale? With so many factors, only you know the answer! For help with your next real estate investment, call Sheldon Neal and his team in Oradell!