Mobile home

Mobile homes are also called manufactured homes, although the “manufactured” terminology didn’t exist until the Housing Act of 1980. Regardless of how someone describes these properties, they are built in a factory and then transported to a plot of land. These tend to be some of the cheapest types of homes to purchase, although getting a mortgage for a mobile home may include some additional restrictions. Often, a homeowner might own the home, but not the land it sits on. Instead, they have to rent that property in a land lease arrangement. Also, mobile homes are not that mobile. According to HomeAdvisor, the average cost to move and set up a single-wide trailer is between $5,000 and $8,000.