Manufactured Homes Save You MOney
People are starting to clue into the fact that manufactured housing exemplifies one of our best solutions to the housing shortage crisis, which perpetuates a cycle of higher home prices that lead to fewer homes on the market, which leads to higher prices.
Manufactured homes break the cycle.
Manufactured homes represent a cost savings on every square foot of your home without sacrificing style, comfort, or even luxury. On average, manufactured homes cost an average of $62,600 compared to $272,200 for a traditional site-built home, per the U.S. Census Bureau.
The cost of construction is calculated into the price of your home, no matter what type of home you purchase. However, manufactured homes cost less to construct. Plus, buyers can configure the home and select features to drive the cost down even more. Because the homes are built in a controlled environment, factors like bad weather or vandalism cannot drive up costs.
The low cost in construction translates into a low-price tag. Compared to a traditional site-built home, manufactured houses cost dramatically less. The average cost per square foot for a manufactured home is $49 per square foot. Site-built homes come in more than twice that at $107 per square foot.
This savings continues to the land you need for your manufactured home. Lot rents typically fall below market value when compared to apartment complexes and far, far below market value when compared to mortgage payments. Then, there is the property tax, which is calculated based on the cost of your home. Since you start out paying less for your home, you continue by paying less in property tax.
Who wants to save some money?
More and more, middle-income Americans have started falling in love with manufactured homes – and the low cost is a big draw. According to ManufacturedHousing.org, median income for those living in a manufactured home sits at $50,000+ a year. As manufactured homes continue to add personalization and offer high value, we will see more middle-class Americans make the jump. How about you?
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