Are Manufactured Homes The Key To Fixing The Housing Shortage

Performance Property Real Estate Question

Q: Do you think it makes sense to buy a modular home? Fay, East Brunswick, NJ

A: A manufactured or modular home is a factory built home. A manufactured home is only meant to be moved once and is therefore different from a mobile home. Manufactured homes tend to be well built. Manufactured homes take less time to build and are much less expensive to build than a site built home. The potential drawback of modular homes is that the cost to finance the purchase of modular homes may be higher and it can be difficult to find suitable land to put modular homes on. Given the current shortage of available housing, modular or manufactured homes are one of the keys to increasing much needed affordable housing supply. Thanks for your question, Fay.

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