For many people, buying a home is one of the biggest goals in their lives. The thought of owning your own home comes naturally with age, and it is something to be proud of when you can say that you own a property. However, real estate prices have skyrocketed over the past decade, making it difficult for people, especially millennials, to save enough for a home. In addition, living and healthcare costs are also rising, while wages are not increasing at the same rate. Due to these circumstances, millennials have turned to manufactured homes to help manage these rising costs. Although these homes are popular with other generations, here are four reasons why manufactured homes are perfect for millennials.
Affordability
Affordability is the biggest selling point for manufactured homes. Not only do they help solve the problem of rising housing prices, but they also offer an alternative for those who prefer a smaller home or a more affordable price tag. The average cost per square foot for a manufactured home is $49, much cheaper than $107 for a traditional home built on site. Because of the much lower price, millennials are able to more easily make the down payment on a manufactured home.
Durability
There are claims that manufactured homes are not as sturdy and durable as site-built homes. However, there are now strict guidelines set by the U.S. Department of Housing and Urban Development that manufactured homes must adhere to. These regulations ensure that they are built to be as sturdy and safe as other site-built homes. In addition, the guidelines also require that builders adhere to installation standards that ensure the home can withstand the various elements. Each manufactured home is built in a controlled environment, giving prospective homeowners peace of mind that their home is safe while benefiting from affordability.
Ownership
Because of its affordability and durability, millennials can confidently purchase a manufactured home. There is a sense of ownership and independence that all generations achieve with a home of their own. The ability to own a home instead of renting is another big selling point for manufactured homes. Aside from being able to call a property their own, there is also the chance that their home will increase in value over the years.
Design
Newer manufactured homes are often made and designed with less waste and energy, which makes them appealing to environmentally conscious people. Energy-efficient homes also mean a lot more savings for Millennials who are already on a tight budget. Another aspect of the design is the aesthetics of the homes. With a variety of options like custom patios, vaulted ceilings, granite countertops, and more, a manufactured home puts no limits on your creativity and personal taste. Build your first home into a stylish and elegant residence or a space with rustic charm – all at a fraction of the cost.
About MCM Homes
We are a manufactured home operator that can help you on your investment journey. Take the first step and invest with MCM Homes for the best resources and opportunities that will help you succeed. Contact MCM Homes today to learn more.