Manufactured Homes Provide Affordable Housing Solutions
California is known for its high cost of living and equally high real estate prices, making it difficult for many residents to achieve home ownership, or to stay in a home beyond retirement when income decreases for most people. But did you know that today’s manufactured homes offer many of the same features as site-built homes at a fraction of the cost?
Manufactured homes – known as “mobile homes” prior to 1976 when HUD codes were implemented in their building – are built in a factory and then transported to a site for installation. Not only are these homes built to HUD’s strict code, but they are often built better than traditional site-built tract homes or condominiums since they need to be transported to a property for placement.
One of the main reasons why manufactured homes are a smart option for Californians is their cost. According to the Manufactured Housing Institute, the average cost of a manufactured home in California is about $120,000, which is significantly less than the average cost of a traditional single-family home in the state. This makes them a great option for first-time homebuyers or those on a budget.
Another advantage of manufactured homes in California is the flexibility they offer. Manufactured homes can be placed on a permanent foundation or on leased land in a manufactured home community. This can allow homeowners to have more control over where they live.
Manufactured homes are also a great option for those looking to downsize. As the Baby Boomer generation reaches retirement age, many are looking to downsize to smaller, single-level, and more manageable homes. Manufactured homes can provide a comfortable and affordable option for retirees, while also providing them with the ability to age in place.
“Manufactured housing is finally being recognized for what it is: quality-built homes that have simply had a lack of recognition and understanding among the public,” said Shane Joffe, general manager and partner in HomeQuest. “We’re excited to help homebuyers discover that today’s manufactured homes are just as beautiful as site-built homes and at a fraction of the cost.”
Despite softening home prices and a slightly increased inventory, the local housing market is still tight because of high mortgage rates. Because manufactured homes have a lower cost and flexibility, they can provide a comfortable and manageable option for first-time homebuyers, retirees, and others.
HomeQuest is here to help you find your dream manufactured home or ADU. Call us at (866) 720-2207 and let us assist in your search.