Looking at Indian River County and Brevard County real estate, you’ll also find manufactured homes as a viable housing option filled to the brim with investment potential.
Read more to find out what exactly a manufactured home is, the pros and cons of manufactured home ownership, and the person you need to get in touch with if you want to explore your manufactured home options in the area.
What is a manufactured home?
Manufactured homes are prefabricated structures used for a variety of reasons, from long-term residential purposes to short holidays. One primary feature of a manufactured home is a chassis attached to one side of the structure permanently. This is used to transport the manufactured home its initial time.
There are several types of manufactured homes available in the market, with the most popular being single-wide and double-wide. The main difference lies on the size and the layout. Single-wide manufactured homes don’t have hallways separating each of the rooms. Meanwhile, double-wide manufactured homes are double the size of the single-wide structure and, depending on the style, can look like a detached single-family home.
You can’t just leave a manufactured home wherever you want, however. Fortunately, there are numerous manufactured home parks and areas designed for this property type.
Advantages and disadvantages of living in a manufactured home
To help you make an informed investment decision, let’s take a look at the pros and cons of manufactured home ownership as well as manufactured home living.
Advantages
- Low-cost housing option – For many home buyers, purchasing a manufactured home is an easier and more affordable option to home ownership. It offers great value for money– for a relatively small amount, you can enjoy the size and amenities a single-family home can offer.
- Flexible – manufactured homes also provide a more flexible real estate option. They’re relatively easy to purchase, available in temporary, semi-permanent, and permanent types, and can be removed if it has already outgrown your needs. Moving a manufactured home, however, is not easy, but compared to a stick-built home, the process is certainly much easier.
Disadvantages
- Fast depreciation – Unlike other property types, manufactured homes tend to depreciate much faster. Once it leaves the factor, its value will start to drop. There are many reasons why manufactured homes depreciate fast. First, they are considered as personal properties instead of real estate.
- Prone to damage – A major disadvantage with manufactured homes is that, unlike single-family homes and stick built homes, manufactured homes are often at the mercy of nature during a heavy rain or storm, or any other natural disaster. This mainly has to do with the fact that manufactured homes often have temporary foundations.
Sebastian, FL Real Estate
Manufactured homes are a great option if you’re looking for short-term accommodations that offer great value for money. Just get in touch with Francine McElhenny at 772.925.9587 or francine(at)francinekidder(dotted)com to learn more about your real estate options in Indian River County and Brevard County.