Buying a piece of land and a manufactured home is often less expensive than purchasing a conventional home. Additionally, manufactured home buyers enjoy the flexibility of installing their homes just about anywhere they want, including in remote and secluded areas. One drawback, however, is that buying land for a manufactured home can be a complicated and confusing process. To help, we’ve put together a small guide to finding the perfect piece of land for your dream manufactured home.
Manufactured Housing News
Over the last few years, prefab homes have attracted great attention, and for good reason. Specific advantages, such as simplicity of construction, high-quality materials, technological advances, design improvements, and new customization options, are just some of the reasons why manufactured homes have become the preferred choice of increasing numbers of homebuyers.
A manufactured home can be classified as personal or real property. This means that a manufactured homeowner can choose to continue to use the home as personal property and pay the annual license tax required or convert it to real property and pay real property taxes. A positive aspect of converting your manufactured home to real property is that you may be eligible for a series of tax exemptions and deductions. In order to better understand the tax benefits of owning a manufactured home, let’s take a look at the differences between tax exemptions and tax deductions.