Why Manufactured Homes Make Sense in a COVID19 World
Manufactured homes make sense anytime, but they’re particularly attractive now, in the middle of a global pandemic when illness, massive unemployment, and fear about the future have exploded overnight.
People are greatly divided in their opinions about what will happen and how we should proceed, but there’s one thing virtually everyone agrees upon—COVID19 has affected every part of our country. Education, medicine, retailing, and the workplace have all felt the impact of a microscopic virus.
The housing market hasn’t escaped unscathed, either. Although interest rates remain very low and unemployment levels are dropping, lenders are tightening loan requirements by raising the minimum credit score required to get a loan. These changes, and the uncertainty associated with them, highlight several reasons why manufactured homes make sense now.
The lower cost of manufactured homes makes them particularly attractive now.
The cost/per square foot of a new manufactured home is roughly half the cost of a stick-built home. This makes them much more affordable for average people who really want to own their own home but don’t want the burden of a large mortgage payment.
Used manufactured homes are even more affordable, usually readily available, and feature a range of sizes, styles and amenities that will fit your lifestyle and needs. Older models are particularly economical and suitable for small housing budgets.
Rent-to-own opportunities—though fewer in number—are also a great way to keep housing costs low while you build up ownership. In these situations, you, as the renter, agree to make specified monthly payments for the term of the lease. The owner of the home applies a percentage of each of your rent payments toward the purchase of the home.
Manufactured homes can be bought and sold quickly.
If you are purchasing a new mobile home with special features and need to wait for it to be manufactured, your lead time shouldn’t be more than 4 months from the time you place the order until you are ready to move in. This is about half the normal lead time for a site-built home. Choose an in-stock model from the dealer, and you may be able to get your home located and be settled in a few weeks.
Used homes also sell quickly, especially if they are relatively new, in good repair and situated in a good location. In a world where everything is changing daily, there’s comfort in knowing that you can quickly settle your family in an affordable, attractive, mobile home but still have the flexibility to sell easily if you need to do so.
Manufactured homes tend to be eco-friendly.
As increasing numbers of people embrace the minimalist view that “less is more,” manufactured homes become more attractive because they generally are:
- Manufactured with a process that wastes less raw material and uses less energy than site-built homes.
- Located on smaller lots and leave a smaller carbon footprint on the environment.
- Conducive to an instant sense of community.
- Excellent examples of how to efficiently utilize space.
Lesley Affordable Homes provides quality, used manufactured homes
At Lesley Affordable Homes, we specialize in buying, selling or renting mobile homes to people in greater Atlanta, Georgia. Concentrating on the used home market, we offer purchase or rental options. We also feature a rent-to-own program that allows qualified lessees to apply a portion of their monthly rent payment toward the purchase of their home. Lessees assume the costs of maintenance and repairs, which allows them to personalize or upgrade the home while they are still renting. Most tenants are able to complete the purchase and receive title to the home in only 5-7 years.
Contact us at 516-517-HOME (4663), on Instagram at @LesleyAffordableHomes, or on our Lesley Affordable Homes Facebook page to discuss why manufactured homes make sense now. We would love to help you find an affordable home that’s right for you.
