Manufactured homes are built in a factory then delivered to their destination property. Although they use the same materials as site-built homes, their production process makes them less expensive compared to site-built. In California, manufactured homes can appreciate in value, and the past few years have seen prices for manufactured homes rise alongside the housing market.

            People that are new to the housing market, such as new families or first-time buyers, consider either taking a mortgage on a traditional home or renting. Manufactured homes are a 3rd, appealing option for those who are considering renting.

            Those that rely on rent for housing, especially newer families, can greatly benefit from going the manufactured home route. You can pay off your note in a shorter amount of time for less monthly payment compared to a mortgage. Additionally, if you choose to stay in a manufactured home community, your monthly payment of lot rent (price per month to stay in the park), in addition to your loan payments can be comparable or less than the price of rent. Your monthly payments can build equity that you can use later on, an advantage that renters don’t have. Should you pay off your home, you can stay in your park for a fraction of the cost of renting, or you can sell it to fund your next venture.

            Manufactured homes have come a long way since the mobile homes of the 70s. Sleek, modern and functional, they offer the floor plan, amenities, and feel of a traditional home at a fraction of the price. For home buyers that want to make an investment in personal property, while still paying about the same or less per-month than rent, manufactured homes are an excellent option that you should look into.

This post is for educational purposes only, no statements or prospects are guaranteed.