Making the transition from apartment living or traditional home rentals can be difficult, especially when you don’t know what you are looking for. Individuals looking for a change that blends affordability with unique livability might want to consider a manufactured home. Since the housing crisis, it has been abundantly clear that something has to change in the American housing market. This has led to the Tiny Home sensation sweeping across the pop culture landscape and, correspondingly, rejuvenation in the manufactured home industry.
We say all of that to ask this question, are manufactured homes the right investment for you in today’s market? With the housing crisis still a near enough memory, new buyers are understandably shy about making a purchase.
Let’s take a closer look at the manufactured housing market to answer your question.
What Are Manufactured Homes?
Originally known as mobile homes, manufactured homes are a form of prefabricated housing that typically is assembled beforehand and transported to the site of installation. A manufactured home is designed as a dwelling that is at least 320 sq/ft with a chassis that allows for ‘transportability’. Mobility is a huge selling point in a country that is increasingly tilting toward sustainable living and life experiences over conventional housing.
Maximize Your Value
As the need for sustainable affordable housing continues to grow, manufactured homes will continually rise to the forefront of the conversation. Manufactured homes are more affordable than conventional housing and that in turn allows buyers to maximize their value. These buildings take less time to build than conventional houses while offering unique flexibility in terms of design.
A $200k mortgage spends MUCH differently in a conventional house versus a manufactured home.
Get the Home You Want
The greatest benefit that a manufactured home can provide is unique customization options. Manufactured homes are built in factories and assembled before they are brought to their final destination. Because of this, modular and manufactured homes can be modified in seemingly endless ways. Do you want a lofted bedroom and a walk-in closet? Go off! Do you want solar panels that extend from your roof? That’s easy and affordable, too!
Manufactured homes are easy to customize, so get the home that you want!
Easier to Acquire a Loan
Finally, and most of all financially, manufactured home loans are easier to acquire today than they were a decade ago. A decent credit score, a small down payment, and proof of income should be all that you need to purchase the home of your dreams. As the economy continues to recover, expect it to become increasingly easy to acquire a loan.
To learn more about manufactured homes, consider contacting the team at Homes Directs Arizona.