Manufactured Homes Remain Affordable as Site-Built Homes Hit New High
The cost of site-built homes in California remains high, and in some cases, continues to hit new records, with a statewide median sale price of $843,340 in September. According to data recently released by the California Association of Realtors, in Los Angeles County alone, the median price surpassed $900,000 for the first time.
Although home prices in inland counties and more rural areas in northern and central California have dropped slightly, manufactured housing continues to be a more affordable option and a better investment for many home shoppers.
One of the main reasons why manufactured homes are a smart option for Californians in particular is their cost. According to the U.S. Census Bureau and the Manufactured Housing Institute, the average cost of a manufactured home in California is about $129,000, which is significantly less than the average cost of a traditional single-family home or condominium in the state. This makes them a great option for first-time homebuyers, retirees living on a fixed income, or anyone on a budget.
Another advantage of manufactured homes 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, many are looking to downsize to smaller, single-level, and more manageable homes. Manufactured homes also provide a low-maintenance lifestyle, which is ideal for active young professionals or retirees who want to travel and spend time on hobbies and interests rather than taking care of their homes and large yards.
Built to HUD code, today’s manufactured homes also offer many of the same designer features and on-trend floor plans as site-built homes. No longer the mobile homes of decades past, these homes feature high-quality construction, along with amenities such as farmhouse sinks, stone countertops, barn doors, open floor plans with plenty of windows to let in natural light, and more. Many homes even offer the option of porches and attached garages.
“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 at 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.”
Reach out to us here at HomeQuest to learn more about purchasing a manufactured home, ADU, or Tiny Home.