If you, like so many Americans, are looking for a starter home, you are probably feeling pretty frustrated right now. Prices are up, interest rates are high, and a shrunken inventory means many buyers simply can’t afford to buy a starter home. On top of that, owners looking to sell starter homes are finding themselves stuck, unable to sell without having to take on a much higher interest rate than what they’re paying now.
As Rukmini Callimachi reports, “Upward mobility has stalled as buyers and sellers have been pummeled by three colliding forces: the highest borrowing rates in nearly two decades, a crippling shortage of inventory, and a surge in home prices to a median of $434,000, the highest on record.”
There is no doubt that there is a lack of affordable housing in the United States. An attractive alternative to traditional site-built homes, which is a glaring omission in Callimachi’s article, is a manufactured home. At Creek Valley Properties, we know that manufactured homes are a great option for people looking for starter homes or for retirees looking to downsize.
There are many reasons to buy a manufactured home instead of a single family home. Here Are Our Top 5:
Cost effectiveness
- Manufactured homes are built in a factory so there are no delays from weather or waiting for a specific contractor to arrive or a particular delivery of materials. There isn’t a lot of waste during production, either.
- You get more house for your money. A 1,500 square foot single family home with 3 bedrooms, 2 bathrooms may cost you between $250,000 and $350,000. A manufactured home of the same size, however, may cost between $40,000 and $80,000.
Maintenance and upkeep
- In many manufactured home communities, part of the lot rent includes things like snow removal and lawn care. Also, when you shop at manufactured home specialty stores for things like cabinets, flooring, doors, etc. the price point is often much lower than if you were to buy such things for a traditional family home at a Home Depot or Lowe’s.
Location flexibility
- A manufactured home can be moved from, say, a manufactured home park to a piece of privately owned property.
Energy efficiency
- Modern manufactured homes are built to high energy efficiency standards. You can expect quality insulation, efficient heating and cooling systems, properly fitted windows, and more. All of these things can mean lower utility bills.
Amenities
- Many manufactured home parks have amenities that residents can take advantage of. Things like swimming pools, playgrounds, community gathering spots, gyms and more make living in a manufactured home park very attractive.
Creek Valley Properties: Your Partner in Manufactured Home Ownership
So if you’re looking for a home and are feeling the frustration that many home buyers are feeling right now, manufactured homes are a great option. Remember, manufactured homes are not only affordable, but your price per square foot is much lower than in a traditional family home. Schedule a walkthrough of one of our many homes for sale and see for yourself. We can’t wait to show you the benefits of a manufactured home.
Call or text us at 248-495-8664 or reach out via email to jibe@creekvalleyproperties.net. We look forward to working with you.
