With the cost of property and real estate soaring year after year in the U.S., more people are turning to affordable forms of housing. For most, this usually means renting an apartment. However, while renting an apartment might be more affordable in the short-term, it’s still an expensive option that leaves you without any equity to show for it.
Living in a manufactured home will help save you a lot of money. Manufactured homes are much less expensive than other types of homes, including apartments. If you’re considering renting an apartment because you don’t think you could afford to rent or own a mobile home, we’ve got good news for you! It is entirely possible that your monthly payments to be less than what you’d spend on rent for an apartment. These might make them an attractive option for many people who haven’t thought of them before.
Most people living in manufactured homes buy their homes and rent a lot. This is in no small part since mobile homes cost much less to buy and are therefore within more people’s budgets. When you buy a mobile home, it’s yours. You can paint the walls and customize your home any way you like. Plus, you aren’t in close quarters with your neighbors. You learn all too quickly the schedules and habits of your neighbors in an apartment. Worried about the neighbor upstairs starting tap dancing as a hobby? How about the neighbor below watching the TV on full volume late at night? Or those nosy neighbors listening in on your conversations? None of these is a problem in manufactured homes where you have a standalone unit as well as a fair bit of open ground between you and everyone else.
Buying a manufactured home gives you a space that’s all your own. Not having a backyard is one of the most bothersome aspects of renting an apartment. When you purchase a manufactured home, you’re getting a backyard that you can enjoy. Living in an apartment complex can make you feel very isolated. Often you hardly see your neighbors and chances are you’ll never meet them. In many manufactured home communities, there are events, social activities, and a true sense of community. Whether you’re a young family or enjoying retirement, a sense of community can keep you grounded.
Far fewer people own apartments. Most apartments are provided for rent and not for purchase. This means that most apartment residents aren’t building up any equity in the form of a house or accommodation. Instead, they’re spending their rent every month without return. Therefore, if you are looking to build your equity and stay in a comfortable and welcoming atmosphere, I would highly suggest giving mobile home living a shot.