Are Manufactured & Modular Homes a Good Investment? A Look at the Long-Term Value of Your Dream Home?
Buying a Home Is No Small Task
Buying a home is one of the biggest decisions you’ll ever make. It's not just about finding a place to live, it's about building your future, your family's future, and making an investment that makes sense for you. If you're considering your options in North Dakota, South Dakota or Minnesota, you might be wondering, "Are manufactured homes a good investment?". Here at Liechty Homes, we want you to be well informed, which is why we are here to help you understand what this manufactured home space is and whether it right for you! It is natural to wonder about things such as appreciation, long-term costs, and the benefits of choosing modular and manufactured homes. Let’s break it down.
Liechty Homes Hickory Pine Kitchen
Understanding Manufactured and Modular Homes
Before we dive into the investment aspect of these homes, let’s make some clarifying points on what we mean by manufactured and modular homes. These are homes built in a controlled factory environment, under regulated codes set by the Federal HUD code which is a nationally standardized code for the United States. Unlike stick-built homes, where construction happens on-site, these homes benefit from streamlined production and a quality controlled environment that helps to reduce construction cost and save time.
Manufactured Homes: Built to the national HUD (U.S. Department of Housing and Urban Development) codes, these homes are the evolution of what was previously called “mobile homes” and are still built on a permanent frame.
Modular Homes: Constructed to the same state, local, or regional building codes, modular homes are transported to your site then assembled on your foundation.
At Liechty Homes, we sell both these kinds of homes through our home partners Schult Homes and BonnaVilla Homes, but which is the better choice for your goals and aspirations? With this framework of understanding now established, we can dive into the particulars of which home style is right for you!
Liechty Homes Duluth Location
Why Choose Modular or Manufactured Homes?
Here's where the "investment" piece starts to come in:
Affordability: Typically, manufactured and modular homes offer more affordable than a traditional home. The cost saving of labor, time, and materials in a quality controlled environment are directly reflected in the purchase price. This often makes home ownership accessible to a wider range of people such as those that are looking to move on from rent and are taking a first step into owning a home for their growing family. For retirees, that means you may be able to keep more in your pocket when selecting your retirement home.
Time Efficiency: Because these homes are built in a controlled factory, the construction process is much faster than with site-built homes. Less time in the construction process means a faster path for your family moving into your dream home. “Faster” in this context of building does not mean a “lower quality” outcome for our home manufacturing partners Schult and BonnaVilla. With the combination of a modern assembly line building environment, complemented by modern standardized building material, Liechty Homes is proud to stand behind the quality of their homes!
Quality Construction: With improved standards and a controlled building environment, both modular and manufactured homes offer better construction. Using cutting edge building practices and advanced technology to achieve better builds than in the past are common practice and standard when making modular and manufactured homes. With materials that are quality and design plans that are engineered in mind for our unique Upper Midwest weather system means more bang for your buck.
Customization Options: In today's market, both modular and manufactured homes come in a wide variety of layouts, designs, and finishings. Whether you are looking for a starter home for your growing family or are on the hunt for your dream lakeside retreat for retirement; the right floor plan and custom options can be created by the experts at Liechty Homes to suite all of your needs and style.
Large Living room with gas fire place
Manufactured Homes as a Home Investment
Now, let’s address the core question: Are manufactured homes a good long term investment? Here are the key points to consider:
Appreciation Potential: While it's true that traditionally, manufactured homes on leased land may have not appreciated at the same rate as site-built homes, the trend is shifting, particularly with well-maintained, quality homes in desirable locations. Homes located on land that is owned tend to have a much better increase in value year over year. When looking for a manufactured or modular home, take in consideration the kind of land purchase options you have in order to benefit your long term equity. Here at Liechty Homes, our sales staff understands the nuance of these finer points of consideration when you are considering buying one of our homes.
Cost-Effective Upgrades: With the extra money in your pocket from buying a modular or manufactured home compared to traditional, you have more ability to make renovations or upgrades that improve the value of your home while ensuring it is personalized to fit you and your families needs.
Lifestyle Factors: It's no secret that for both the younger family generation starting out or for the retiring couple on the lake, many have an eye on lifestyle. As you transition from the city to the slower paced countryside, a new home can help reflect the transition in the ways that the traditional "town house" could not, giving you a more personalized experience. When it comes to your ideal location, look no further than the upper Midwest for your next adventure.
Key Factors That Affect Investment Value Of Your Modular/Manufactured Home
Several factors will determine the long-term investment outcome of any home, but here are the specifics related to modular and manufactured homes:
Location: Being in a desirable community in a great location that has appreciation and amenities around your home.
Land Ownership: Owning the land your home is on, as previously stated, is a key point when considering a manufactured or modular home. If you are able to “affix” your home onto land, your overall value of real estate will be taken into appraisal or value assessment, this will be the best way to maximize your home’s value!
Quality of Construction: Choosing a quality builder is paramount, this is where Liechty Homes steps in, our home partners Schult Homes and BonnaVilla Homes are known producers of high quality build modular and manufactured homes!
Home Condition: A well-maintained home, both inside and out, tends to have a higher resale value and ensures good bones for your investment for the future.
Dispelling Common Myths About Modular & Manufactured Homes
You may have heard of the common myths surrounding manufactured homes. Let's clear them up:
Myth #1: They’re cheaply built.
Reality: Modern manufactured and modular homes are built to code using advanced engineering, durable materials, and in a controlled environment to ensure better builds.
Myth #2: They depreciate in value.
Reality: Like all homes, how well the home is maintained plays a big part in how it retains or increases its value. With great long term land ownership and upkeep your modular or manufactured home can be a wonderful and valuable asset.
Myth #3: They can’t be customized.
Reality: Quite the opposite! There are plenty of options to select when it comes to layouts, finishings, and overall style. At Liechty Homes, you are a part of the whole design process to ensure the home of your dreams comes to life.
Stonecrest Modular & Manufactured Home Development Bismarck North Dakota
The Liechty Homes Difference
Choosing Liechty Homes means you're not just buying a house, you're getting:
Experienced Professionals: A dedicated team of professionals that guides you through the building process every step of the way.
Quality Craftsmanship: A builder that focuses on quality construction using high-end materials for a long term asset you can pass onto your kids.
Local Expertise: A deep understanding of the Upper Midwest market to ensure your home is perfect for your life here.
Exceptional Customer Service: Customer satisfaction that is a five star industry standard.
For First-Time Home Buyers? Or Downsizing?
Whether you're a young family seeking an affordable home or a boomer looking for a low maintenance lakeside retirement spot, modular and manufactured homes offer real investment value. With our variety of options, the dream of home ownership is closer than you think and can be attained when working alongside our team of skilled experts that put your family first.
Final Takeaways:
So, are manufactured homes a good investment? The short answer is, absolutely, YES, if you choose well. With the benefits of affordability, faster construction times, quality builds, and countless options for personalization, modular and manufactured homes are a smart financial decision and the start to the wonderful future of you and your family. When purchasing a manufactured or modular home as an investment, look towards long term quality with Liechty Homes and allow our homes to make your family future bright.
