Manufactured Homes – Making Financial Sense
These days, HomeFirst™ understands that people need to keep a close and careful eye on their finances and expenses. A lot of families might think that, due to their price, homeownership is out of reach for them, or at least not a feasible option.
If you feel this way, you might be surprised to learn that manufactured homes are a great way to own your own home without breaking the bank. And in some cases, they might even help your financial situation more than renting an apartment, or even renting a site-built house!
For starters, in many cases throughout HomeFirst™ communities, owning your own home is cheaper than renting an apartment! Monthly home payments are many times found to be cheaper than rent, and with less fluctuation – for HomeFirst™ homes, monthly home loan payments are fixed through the term of the loan. Compare that to an apartment rent which could be raised at any time, and you’ll find yourself with a lot of extra money after your payments are made!
Making payments on your manufactured home will also help your overall financial stability. If you have less-than-perfect credit, making consistent payments on your home will help to restore your credit score and could open more financial doors for you later. And in a broader sense, keeping up on your home payments will increase your home’s equity and provide more opportunities for loans and credit improvement down the line.
It’s not all just home loans and bank statements – manufactured homes can help you with day-to-day expenses, too! Manufactured homes are built to the US Department of Housing and Urban Development (HUD) Code, which dictates the manufacturing standards and ensures energy-efficiency. Manufactured homes built to this code are found to be up to 31% more energy efficient than many other types of housing. That sort of efficiency leads to lower energy bills for your family – and that means you’ll have more money in your pocket.
If you want more information about how owning your own home can help your financial situation, you can check out the benefits of owning a manufactured home here. Or, if you’re ready to take the first steps to owning your own manufactured home, contact HomeFirst™ today.