Many would-be homeowners have never considered that the American dream of homeownership could be realized with the purchase of a new modern manufactured home, surprisingly foregoing an opportunity to realize all the advantages and enjoyment of becoming a homeowner. But why?
We will assume that there are those with preconceived notions passed down by generations of what manufactured homes are not: they are not well-built, they are not safe in the event of wind and occasions of fire, they don’t appreciate, they don’t look like a “real house,” they are difficult to finance, etc.etc. In fact all of these assumptions and misnomers have been thoroughly debunked over the last 40 years.
The following are our top ten list of surprising – to many – advantages of owning today’s modern quality manufactured homes, that represent “everything a home should be,” and more.
(The first four listed advantages are taken from the text of U.S Senate pending legislation (S.1804) encouraging localities to support manufactured homes in mitigating the effects of the affordable housing crisis.)
- Nearly 22,000.000 people in the United States live in manufactured housing, which opens the door to homeownership for families who, in many housing markets, cannot afford to buy a site-built home.
- Manufactured housing is a significant source of unsubsidized quality affordable housing in the United States.
- Manufactured housing is the only form of home regulated by a federal building code, which includes health, safety, energy efficiency, and durability, and is found on land owned by the homeowner and leased by the homeowner in communities owned and operated by private entities, non-profit organizations or resident owned communities.
- Manufactured homes can be open the door to quality homeownership for millions of families; they can appreciate in value and be an effective long-term affordable solution for families and communities across the country.
- A manufactured home is a sound investment, with a cost up to 50% less per square foot than a comparable traditional site-built home, equal and often superior in quality of construction, appearance, and amenities.
- Multiple manufactured home financing choices are available, whether home is placed on private property or within a land-lease community. A manufactured home affixed to real estate will qualify for mortgage financing similar to a traditional site built home, including FHA and V.A. Because total consideration is lower, the required down payment requirement will be proportionately less.
- The affordability of manufactured homes is due to the efficiency of the factory building process, utilizing the same building materials as site-built homes. The controlled environment and assembly line techniques remove many of the problems encountered during traditional on-site home construction, such as weather, theft, vandalism,etc.
- Technological advances allow manufactured home builders to offer a variety of architectural styles and finishes that will allow a manufactured home to blend seamlessly into most any neighborhood.
- Greater flexibility in the construction process allows for customization to meet a homebuyers lifestyle and needs including enhanced energy efficiency such as Energy Star-labeled manufactured homes for substantial savings in many aspects of owning and operating a home, and an array of amenities, decor, fixtures and appliances.
- Manufactured homes can be built and ready for “turn key” occupancy in a matter of weeks, as opposed to multiple months for a home built on site.