It turns out that there’s a housing solution that offers affordability, flexibility and a sense of community, all while being a part of a growing trend that’s transforming the way Americans live.
About 21 million people in the U.S. have chosen to live in a manufactured or mobile home. But why has this housing option become so popular? What are the pros and cons of choosing a manufactured home? Here, we share the latest insights into manufactured home ownership. See how sophisticated manufactured home options have become and whether this style of homeownership could be the perfect fit for you.
Pros of Living in a Manufactured Home
From significant cost savings to energy efficiency and customization options, manufactured homes are challenging traditional perceptions and offering viable solutions in the current housing market. Let’s delve into the specific pros that make manufactured homes such an attractive option.
Quality and Customization
Modern manufactured homes are built to high standards of quality. They are constructed in controlled factory environments, protecting materials from damage and theft. Many manufacturers offer a wide variety of floor plans, features and customization options, allowing homeowners to personalize their living spaces.
Energy Efficiency
Manufactured homes built to HUD standards are not only safe but also energy efficient. This eco-friendliness can lead to lower utility costs for homeowners over time.
Speed of Construction
The construction process for manufactured homes is significantly faster than traditional site-built homes. This is due to the sheltered environments in which they are manufactured, as well as efficiencies found in assembly line production. They are also built to common standards that reduce time spent on custom work.
Flexibility
For those who value mobility, manufactured homes offer the flexibility to relocate. This can be a real advantage for people who need to move for work or to be closer to friends and family. Additionally, if owners decide to purchase land in the future, these homes can be easily relocated, offering further versatility.
Cons of Living in a Manufactured Home
While these homes offer affordability and flexibility, it’s essential to weigh the potential drawbacks before making your choice. In this section, we’ll explore some of the key challenges that manufactured home residents may face, from financial concerns to space limitations.
Depreciation Concerns
While properly maintained manufactured homes can appreciate in value, there is a common perception that they depreciate more quickly than traditional homes. However, research studies have found that manufactured homes appreciate just as well as site-built homes.
Limited Space
Manufactured homes are generally smaller than traditional homes, which can result in limited living and storage space. This may require careful organization and efficient use of available areas. On the upside, many manufactured home owners find that the limited space helps them right-size and simplify their lives.
Financing Challenges
While financing options for manufactured homes have improved, the lending market remains concentrated among several lenders. This can make it more challenging to secure a loan compared to traditional home financing.
Land Ownership Issues
Many manufactured homeowners do not own the land their home sits on. Instead, they may need to rent or lease land from a mobile home park or community, which can come with additional costs and regulations. The good news is that homes can be easily moved should owners purchase land in the future.
Manufactured Home Ownership: Positive Perception and Increased Satisfaction
Recent research indicates a shifting perception of manufactured homes. A 2022 Freddie Mac housing survey revealed that 77% of people aware of manufactured homes expressed a positive sentiment towards them, and 90% of manufactured home residents reported being satisfied with their homes.
The survey also found that 62% of respondents would consider purchasing a manufactured home in the future, with millennials (68%) and urban dwellers (67%) showing the highest interest.
Find Your Ideal Home From Jacobsen Homes
As the housing market continues to evolve, manufactured homes are likely to play an increasingly important role in providing flexible, cost-effective and satisfying housing options for Americans.
At Jacobsen Homes, we build high-quality, affordable manufactured homes tailored for Florida living. Contact us today to explore floor plans that match your ideal location and lifestyle.