Manufactured homes are quickly rising in popularity with the generation now roughly aged 23 to 38, fondly known as the ‘millennials’. Manufactured homes, have a list of reasons why they are loved by all generations, but here are five reasons that they are preferred by millennials, from their sheer affordability, options for ownership, shocking durability, environmentally friendly options, and incredibly design flexibility.
Manufactured homes are wildly affordable, even for millennials who frequently experience a tighter budget than previous generations. The average cost of a manufactured home in 2018 was $48,356, with a market value just a few hundred dollars higher than that. This is particularly important considering that the average reported household income was below $40,000 a year. According to MHI’s 2018 consumer research a total of 71% of people claimed that their manufactured home was affordable, with many having experienced that water and sewage or other necessities like garbage collection and upkeep being included in the monthly rent payments of their lots.
The ability for rent-to-own is one of the reasons why many millennials are picking manufactured homes. An impressive 75% of manufactured home owners state that the ability to own their property in the future is a reason why they choose this option. Being able to own property allows for a sense of independence, something that many millennials seek and cannot seem to get enough of. A perk of ownership, as well, is that if the manufactured home is ever sold, there is a good chance it could appreciate in value with the right conditions. Like any home, though, upkeep and minor repairs are important to add to the value, but with manufactured homes existing on a smaller scale, it means that repairs and upkeep will be possible without breaking the bank.
Due to the strict standards that encompass the creation of manufactured homes, the homes are just as stable and secure as any other site-built home. There are also rules for installation standards that dictate how the pieces of the home are sealed together to withstand the elements and provide a lasting home for renters or owners. With strict guidelines in place within the controlled environment, this allows for homeowners to gain a sense of security that the home is sound while reaping the benefits of their affordability.
Especially in newer manufactured homes, the environmentally conscious can rest assured that their home is doing all it can to decrease its carbon footprint. Energy efficient manufactured homes can use up to 55% less energy, meaning a lot of savings for inhabitants! On top of that, though, the building of manufactured homes results in far less construction waste to clog up landfills and cause further pollution.
Putting their own stamp on life is a millennial trait. That is why manufactured homes are so appealing! Often, manufactured homes have options for porches, decks, garages and even vaulted ceilings. Building a manufactured home doesn’t mean having to say no to stainless steel appliances, granite countertops, or even hardwood floors. Manufactured homes can be built with all of the class, elegance and amenities of a regular home at a fraction of the cost.
Homeownership, can be a difficult and stressful process. With lives already swamped in stress, millennials love the ease and peace of mind that’s given to them with manufactured homes. They are affordable, safe, durable, and environmentally conscious with a host of design options that allow for individuality on a smaller, more budget-friendly scale. It isn’t hard to see why millennials are spending more time looking for manufactured homes that can exist at a price far lower than other home-owning options, with countless benefits and far fewer downsides.