Top 10 Reasons to Consider Buying a Manufactured Home

It’s safe to say that many of us have been on a wild ride with the economy in recent months.  With expenses running higher and higher these days, anything we can do to save money is on the minds of many.

That’s why now, more than ever, manufactured homes may be a great choice for those looking to make their dream purchase, especially when trying to be budget conscious.  Whether you’re a millennial, boomer, or someone in between, the affordability of manufactured homes is so enticing you may want to consider purchasing one in the very near future.

Here’s a look at the Top 10 reasons a manufactured home may make sense for you.

1. Affordability. 

You simply can’t beat the price of a manufactured home.  With the average cost running at about $75,000 dollars, excluding the land, this type of home is a far better deal when compared to conventional, stick-built homes, where the median cost nationally is about $300,000.  For anyone considering a more cost-effective way to become a homeowner, this may be the way to go.

2. Great Option As Compared to Renting

Having a space to call your own – a space you own – is empowering. Instead of putting money in someone else’s pocket by paying rent, why not put your hard-earned money into an affordable home that won’t break the bank? Manufactured homes provide independence and can help you reach your financial goals with affordable monthly payments.

3. Customize It!

This isn’t your parents’ mobile home.  Today’s modern manufactured homes offer a variety of quality design features you might have thought could only be found in a traditional stick-built home.  With manufactured homes, you can choose your floor plan and customize your options, such as appliances, cabinets, countertops, as well as other amenities and decorative elements.

4. Smaller Loans Mean Smaller Payments

Typically, the lower cost of a manufactured home comes with a smaller monthly loan payment than what would generally be required for a stick-built home.  Owners of manufactured homes, therefore, owe less and have more manageable monthly payments.

5. There’s Generally Less Maintenance

Strict safety and quality standards have revolutionized the manufactured housing industry. The homes, which are constructed inside a factory, are much safer and more reliable.  Since they are built under controlled conditions, they are less likely to develop significant maintenance issues. 

6. Outdoor Space

Owning a manufactured home allows you the opportunity to have your own yard space.  When renting an apartment, you often don’t have access to a yard.  So get outside and enjoy your special space – plant a garden or set up a swing set for your kids – whatever you decide, think of your yard as your oasis.

7. Pets!

If you’re a pet owner, you know how difficult it can be to rent an apartment where the landlord also allows you to bring Fido and Fluffy. When you own a manufactured home, you don’t have to choose between a place to live and your beloved companions.  They’ll love the new home and the backyard, too!

8. Privacy

Renting an apartment or sharing a home can leave you to deal with close neighbors.  Tight quarters can not only be uncomfortable but can also make you feel like your every move is being watched. With a manufactured home, you have your own walls, your own space, and privacy.

9. Design Freedom

Are you artistic?  Do you like to hang artwork or paint bold colors on your walls?  When you rent an apartment, your landlord may have strict rules about how you can and can’t change your living space.  But when you own your own manufactured home, you’re the boss! After all, it’s your home.  You have the freedom to make all the interior changes you want!

10. Build Equity

It’s no secret.  When you rent, the money you pay every month goes into your landlord’s pocket, not your own.  When you own a manufactured home, making your monthly loan payment helps you build equity.  Thinking about upgrading?  Renovations, especially in the kitchen and bathrooms, may also help boost the value of your manufactured home and, you guessed it, build more equity.

We hope you enjoyed learning about the many ways manufactured homes can help you live a comfortable and more independent life while also keeping your budget in check. 

If you’d like to learn more about financing a manufactured home, contact the experienced team at Priority Funding today!

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