Manufactured Housing News

Manufactured home communities have been around for a very long time, but in recent years, they have increased in popularity. There are many reasons for this, but it comes down to a few key points that fit the agenda of today's society the most. Manufactured home communities are affordable, offer wonderful amenities, maintain safety, and are incredibly environmentally friendly! Each of these points would be wonderful, but they all explain why manufactured home communities are on the rise and why it is a good thing. 

Affordability

Debts are on the rise. While an unfortunate circumstance of today's financial landscape can cause havoc on your finances, opportunities still allow you to own a home in the form of manufactured homes. While many cite the ability to own as a reason for purchasing a manufactured home*, it is affordable even when it is being rented. Rent for a manufactured home and the land it sits on within a manufactured community is often still less than the rent that one would pay on an apartment. Financial optimism draws many to manufactured homes, and 38% of renters and owners said their financial outlook improved. This was especially common in those aged 18 to 39 - an age range often initiating great change.*

Amenities

Manufactured home communities often have wonderful amenities within their communities. When purchasing a site-built home, it is possible to have a few amenities in the neighborhood. Still, manufactured home communities often have many amenities, including common community centers, pools, and fitness buildings. Many will also include playgrounds, making it something appealing to growing families! These amenities provide community members with the establishments they may have had to search for or drive a while to visit. Everything in one accessible place can appeal to a large variety of people!

Safety

Manufactured communities are safe. Part of why manufactured communities are so safe is because there is someone in charge. While neighborhoods may have some organization or HOA that watches over the neighborhood, it is not responsible for the homeowners' safety.  Most of the safety falls on the responsibility of the person. For manufactured home communities, there is a community manager. This person can be a mediator, a manager, or simply someone to have an extra set of eyes on the community. The tight-knit feel of most manufactured communities also allows for an extra feeling of safety among peers. At the same time, many communities also have gates or other fencing to provide an extra barrier. 

Environmentally Friendly

The environment is very much on everyone’s mind today. With climate change looming negatively on the horizon, it is important to become more environmentally friendly. Manufactured homes are that step! A manufactured home's carbon footprint is far less than that of a site-built home, and new energy-efficient manufactured homes use up to 55% less energy. What’s not to love about a home that saves energy simply by existing?

The benefits are endless. With debt amounts skyrocketing, choosing an affordable housing alternative makes the most sense while also allowing for personal financial growth*. Not only is it affordable, but with fantastic amenities available to the community in a safe area that is doing what it can to promote an environmentally friendly lifestyle, manufactured homes and their communities will become even more popular over time. Contact one of your Triad Financial representatives today for more information on manufactured homes, their communities, and their benefits.

*Source: Manufactured Homes: Market Facts 2018 Report