Is it your dream of owning a home? If you’re a Gen Z, you’re feeling despondent now at the idea that you’ll never become a homeowner.

One survey revealed that a whopping 82% of people from this generation believe it’s not the right time to buy a house. Many also think there will never be a right time. The US housing market saw an unprecedented boom during the pandemic. House prices went up 42% in a matter of months. Things have settled down now and the median price of a home has gone down. But not enough to make a difference.

What most people seem to be forgetting is there are other options to a conventional house. Manufactured homes can be the way forward. These houses are more affordable yet remain a viable investment. Of course, you must make sure you weigh your options first. Here’s a quick look at the pros and cons of buying a manufactured home.

Here’s the Good…

• Easy on the Budget

Manufactured homes are very affordable. The average sale price of these homes is around $128,000. That’s a big drop when compared to the $416,000 of a new home. Why are these homes cheaper? It’s because they’re mass-produced. A manufactured home is always made in a factory. This cuts down on material and labor costs.

• Structural Integrity

Many people labor under the impression that manufactured homes are flimsy and weak. That’s so far from the truth. These structures are quite strong and durable. Mobile homes, which is another moniker for this housing, follow the HUD code. This federal code requires these homes to meet strict structural standards. They also have to follow the standards of security, fire, and energy efficiency. Every manufactured housing sold in the US carries a “red seal.” It’s proof that it passed the stringent certification process.

• Champions the Environment

Owners are often asked about the pros and cons of buying a manufactured home. And they say its care for the environment can’t be beat. This type of modular housing has many energy-efficient options. Mobile home builders are aware of their impact on the environment. The HUD Code also means these homes are all wired for energy savings. You can see that in the energy-efficient windows and extensive insulation. Many of these homes are Energy Star certified.

• Speedy Installation

You can experience the joy of seeing your dream home taking shape. This could take months if you’re having a new home built. It’s faster with mobile homes. The manufacturer will bring the house to your property. They can build or install it in a matter of hours. You can soon sleep in your new bedroom or cook in your kitchen.

And Now the Bad

• Dealing with the Stigma

Many people have a negative perception of manufactured homes. They associate them with the mobile homes of old. There’s no difference between the two structures. But a large segment of society thinks mobile homes are eyesores. Images of run-down mobile homes where junkies live linger. This stigma is one reason why many people ignore mobile homes for sale.

• Lack of Suitable Land

One challenge of mobile home ownership is the lack of suitable land. It’s hard to find available properties in the suburbs that allow for such construction. There are also a few places that are not as crowded as the city. Owners of mobile homes will need the property to have access to basic utilities, like water. Some areas also restrict the type of structures allowed on the property. There could be restrictions that demand on-site construction.

• Financing Requirements

It’s impossible to buy property in the US without some form of financing. The same holds true for manufactured homes. There are distinct financing considerations imposed on mobile homes. There are states that consider these structures as personal property. The distinction can make applying for financing more challenging. Getting financing is reportedly more difficult too. The interest rates could be higher. The bank or lending company might also have stricter requirements.

Homeownership Within Reach

Becoming a homeowner comes with many challenges. Let Live Mobile Now make the process simpler. We’re one of the best listing service companies in the Sunshine State. We offer mobile homes for rent or sale. All these structures are well-built and maintained. You can secure your dream home at half the price of a standalone home. Browse through our website and check our extensive catalog. We also work with reliable brokers and agents. They can help you find your dream home. Ring us at +1-877-221-4040. You can also send us a message here.