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A used mobile home can cost less than a new SUV, making them a perfect first step for many homebuyers. Now called manufactured houses, they've become a best-bet for a growing number of prospective ...
The MHINCC distinguishes among several types of factory-built housing: manufactured homes, modular homes, panelized homes, pre-cut homes, and mobile homes. From the same source, mobile home "is the term used for manufactured homes produced prior to June 15, 1976, when the HUD Code went into effect."
Manufactured homes are built onto steel beams, and are transported in complete sections to the home site, where they are assembled. Wheels, hitch and axles are removed on site when the home is placed on a permanent foundation. Mobile homes, or trailers, are built on wheels, and can be pulled by a vehicle.
Modular homes are built to either local or state building codes as opposed to manufactured homes, which are also built in a factory but are governed by a federal building code. [22] The codes that govern the construction of modular homes are exactly the same codes that govern the construction of site-constructed homes.
Mobile homes are designed and constructed to be transportable by road in one or two sections. Mobile homes are no larger than 20 m × 6.8 m (65 ft 7 in × 22 ft 4 in) with an internal maximum height of 3.05 m (10 ft 0 in). Legally, mobile homes can still be defined as "caravans".
The third and final approach to value is the Cost Approach to value. The Cost Approach to value is most useful in determining insurable value, and cost to construct a new structure or building. For example, single apartment buildings of a given quality tend to sell at a particular price per apartment. [13]
Cost approach is a real estate appraisal valuation method used to price an individual property. [1] It is one of three methods, the others being market approach, or sales comparison approach , and income approach .
Modular construction has consistently been at least 20 percent faster than traditional on-site builds. [citation needed] Currently, the design process of modular construction projects tends to take longer than that of traditional building. This is because modular construction is a fairly new technology and not many architects and engineers have ...