Manufactured homes are one of the most affordable ways to own a home for millions of Americans. They’re often more affordable than site-built homes and make homeownership a reality for many. If you rent an apartment, it’s a great way to finally own your first home.
There are a few tips that can help you find that perfect home in a quick and affordable way. These are the four secrets of affordable manufactured housing:
Find the Right Market and Search With Your Budget in Mind
No matter your budget, you should always figure out where you’d like to buy a manufactured home. Do your research beforehand to see how much homes sell for in your area. This way, you’ll be most prepared to buy a manufactured home without breaking the bank. If you don’t have a clear idea of where you want to buy your home, you’ll draw out the process and spend more time and money.
Let’s say you currently rent an apartment in Phoenix, AZ, and want to find a manufactured home in the Phoenix suburbs. You should compare prices between many towns in your area so that you know where to find the cheapest homes.
Know the Ins and Outs of Financing
Financing your manufactured home is an important aspect of your purchase. Many homebuyers don’t know that financing a manufactured home is a unique process. In fact, it can be a completely different process than financing a site-built home.
Yet there are several types of loans that you’ll consider when applying for financing. Read this previous MHVIllager blog post to learn more about manufactured home financing.
They’re REALLY Affordable
When we say that manufactured housing is one of the most affordable sources of homeownership, we mean it.
In fact, according to 2021 Datacomp sales data, the average price of a new manufactured home in 2021 was $92,911. Used manufactured homes sold on average for even cheaper, at $60,733. This makes manufactured homes far cheaper than site-built homes. Site-built homes, in 2021, reached an average of $408,000, based on Statista data.
22 million Americans have already discovered how affordable manufactured homes actually are. Compared to a site-built home, you can save up to 75% on the average cost of a home. In 2022, the truth is that manufactured homes offer high quality for a lower price.
It’s Actually THAT Easy to Find an Affordable Manufactured Home
Not only is buying a manufactured home one of the cheapest ways to become a homeowner, but it’s one of the easiest. Anyone can go online, look for a manufactured home for sale that they love, and go through the buying process.
With MHVillage, the easy becomes even easier. MHVillage is the nation’s leading website for buying, selling, and renting manufactured homes, with thousands of listings across the country. If you’re getting ready to buy your manufactured home, start your search today with MHVIllage.
