Cost Savings Make Manufacture Homes Increasingly Attractive for First-Time Buyers

Cost Savings Make Manufacture Homes Increasingly Attractive for First-Time Buyers

For generations of Americans, purchasing their first house was a celebrated rite of passage, that moment when young couples, having committed to each other, established a home wherein they can flourish, raise children and contribute in a substantial way to the community and the nation.  That, however, was then.

The reality today is that buying a house remains little more than a pipe dream for many Americans. There are a number of social and economic factors contributing to this crisis, not the least of which is a growing population and a national housing inventory that cannot keep pace. With economic forecasts projecting little change in the situation anytime soon, more and more Americans are considering purchasing manufactured homes. If you are one of them, here are some of the economic benefits to bear in mind in the debate between conventional homes and manufactured ones.

Affordability: Manufactured houses can provide quality housing at prices up to 50% less per square-foot than their standard counterparts. The U.S. Census Bureau reports the average sale price of a new manufactured home to be around $88,200, compared to the average traditional home price of $408,800. The exact cost will depend on the model, of course, just as used and new mobile homes also vary in price. Also bear in mind that manufactured homes can be secured with a down payment of as little as 3%.

Energy Efficiency: Modern manufactured homes are designed to be energy-conscious, meaning you can save a considerable amount of money on heating bills compared to a conventional home. Energy-efficient windows and doors, roof, wall and skirting insulation are utilized during the build to reduce heat loss, and investing in insulated curtains is another great way to save money on your heating bills.

Lower Maintenance Costs: There are costs involved with owning and maintain any type of property, whether it’s a manufactured home, an apartment or a conventional house. That said, manufactured homes in general are made with less expensive materials, which means parts are easier and cheaper to fix or replace.

Lower Taxes: Manufactured homes are not considered as real estate property, which means you won’t have to pay property taxes. The average annual property tax in the United States is more than $3,000, which means you will save a lot in this area from living in a manufactured home.

Site Fees: Lot rent and ownership is the amount you pay for the plot of land where your manufactured home will sit. Typically, lot rent also will include water and sewage, garbage collection, the upkeep of the grounds. In some parks, lot rent also includes internet, cable TV and some utilities, such as electricity. Even with a mortgage to pay on top of this, your overall rent and mortgage cost will be under $1,000, which is much cheaper than a conventional home.

________________________________________________________________________________________________________________________________________________________________________________________________________________________

At Harmony Communities, we feel strongly that each resident has a sense of home. That they come home from work and feel pride in their environment and in their place in the greater community. That families are comfortable raising children in our neighborhoods, and that couples and singles know that they belong to something bigger than their four walls. In other words, we seek to create harmony within each community, making our communities not just passable, but peaceful, safe, functional, and beautiful.