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Manufactured Homes: The Best Move for Millennials?
Most people would agree that the economy is in pretty good shape at the moment, but unfortunately that hasn’t always made it any easier for younger, first-time home-buyers to purchase a home.
In fact, according to a survey from Apartment List, nine out of ten millennial renters want to buy a house, but at current savings rates two-thirds of them need more than two decades to save up the down payment. We wouldn’t be surprised if, here in California, that number was even higher.
Can manufactured homes cut down on that waiting time? The answer is yes.
Affordability is the challenge here, especially for those in their 20s just entering the workforce with a mountain of college debt. Saving is hard – in fact, that same survey found that nearly half of millennial renters have zero down payment savings, while just over 10% have saved $10,000 or more.
Manufactured homes can shorten that difficult wait, because they cost less, while providing just as much house (and sometimes more) than traditional site-built homes.
Renting may be unavoidable for a while, but that monthly check to the landlord delivers nothing more to millennials than a roof over their heads for another 30 days. A manufactured home is an investment, where every payment brings buyers closer to ownership. Plus you are building equity, as manufactured homes now achieve an average annual growth rate of 3.4%, about the same as traditional, site-built homes.
When you’re in your own home you don’t have to check with a landlord if you want to paint or add wallpaper, change the kitchen floor tile or put in a ceiling fan. It’s your house. Built to high, factory-built standards with warranties on workmanship and components.
You’ll have all the features and comfort you desire. There are floor plan options to meet the needs of any size family, with large rooms and luxurious kitchens and plenty of space for home offices, spare bedrooms and other amenities.
Can you afford one now? Let’s find out. Talk to a Ma Williams representative today and take the first step toward acquiring a house that you can make your own. We have helped customers throughout California into the home of their dreams. Whether you wish to live close to the city or out in the country, there are locations zoned for manufactured housing that will fit your lifestyle. Best of all, once you have moved into affordable housing, you may have more money left over to start making bigger payments on that college debt!
