The housing market has changed dramatically over the past year. According to recent data, rental rates have risen substantially in some areas, while decreasing in other locations. Additionally, home prices have increased coast to coast, outstripping wage growth and rents. Thus, determining whether renting a home makes more financial sense than owning a manufactured home is a little bit more difficult than it once was. Because choosing to rent a home or buy a manufactured home is a major decision that can affect your financial situation as well as your lifestyle, we’ve gathered below a few factors you should consider in order to make an informed decision.
Manufactured Housing News
The short answer is yes. The long answer is: it depends. That’s because a manufactured home must comply with certain requirements in order to be considered real property. Since the process of classifying a manufactured home as real property varies by state and local jurisdictions, the local governments have developed specific statutes that set forth the procedures for classifying a manufactured home as real property.
For many people, buying a home is an important financial decision. However, choosing the right type of home is often more important than bringing your dream of homeownership to life. That’s because the home that you choose will indirectly dictate a series of factors, including the type of neighborhood you’ll live in, the financing options you may qualify for, and the payment you’ll have to make every month over the life of the loan.