For most people, owning a home is part of the American dream, and a manufactured home can be one of the most affordable ways to get there. Today’s manufactured homes offer quality, value, and the freedom to customize, which is why more buyers are choosing them as a shorter, less expensive route to homeownership and “the good life.”
As seen in Manufactured Home Tips, Manufactured Homes, April 2022.
Key Takeaways
- Homeownership is a big part of how many Americans define “the good life.” In Fannie Mae’s National Housing Survey, 87% of consumers said owning a home is important to it.
- A home is the largest single purchase most of us will ever make, so it pays to consider all of your options.
- Today’s manufactured homes offer outstanding quality at an affordable price.
- People value homeownership for the pride of ownership, not paying rent, and the ability to make a home match their own tastes and needs.
- Owning gives you a sense of security and control over your environment, and a manufactured home lets you customize the space and features to fit your lifestyle.
- Under the same placement conditions, a manufactured home can retain or appreciate in value like a comparable site-built home.
- How your home is titled, financed, and taxed can vary, so talk with the community team and a qualified tax or financial professional about your situation.
Why Homeownership Is Part of “The Good Life”
For the majority of us, owning a home is part of the American dream. Fannie Mae’s National Housing Survey has found that 87% of consumers say owning a home is an important part of “the good life,” the life they would like to have.
In today’s market, buyers expect quality, value, and affordability. Because a home is the largest single purchase most of us will ever make, it’s worth looking at every option before you make a housing change. In pursuit of that dream, more Americans are discovering today’s manufactured home as the answer to their housing needs.
Quality at an Affordable Price
Manufactured homes are the fastest-growing segment of new single-family housing sales, offering outstanding quality at an affordable price. For buyers who want a new home without a site-built price tag, that combination is a big part of the appeal.
The Advantages of Homeownership
Owners and renters alike say homeownership is desirable for a few key reasons:
- The pride of ownership
- A dislike of paying rent
- The ability to have or change the features of your home to match your individual tastes and needs
Owning your home also gives you a sense of security and well-being that’s hard to beat. Home is where we raise our families, host summer barbecues, and find refuge from the outside world.
Control Over Your Environment
As a homeowner, you have control over your environment. With a manufactured home, you can customize the space and features to match your needs and your preferred lifestyle. That’s a big reason many people find a manufactured home fits their life so well.
The Value of Manufactured Homeownership Over Time
Homeownership is the primary component of wealth for many Americans. Contrary to some public misconceptions, a manufactured home can retain its value, or appreciate, under the same placement conditions as a comparable site-built home.
What About Taxes?
For some homeowners, mortgage interest and property taxes can be tax-deductible, and for many the mortgage interest is the largest deduction. Whether this applies to you depends on how your home is titled and financed, so please check with a qualified tax professional.
How Manufactured Homeownership Compares
This table pulls together the main points from above. Your own situation will depend on the home and the community you choose.
| What Matters | Renting | Owning a Manufactured Home |
|---|---|---|
| Monthly payment | Rent paid to a landlord | A housing payment on a home you own (a lease fee may apply if the land is leased) |
| Customization | Usually limited | You can customize the space and features to your tastes and needs |
| Pride and security | Depends on the rental | Pride of ownership and a sense of security and stability |
| Value over time | No ownership stake | Can retain or appreciate in value under the same conditions of placement as a comparable site-built home |
| Purchase price | No purchase required | Outstanding quality at an affordable price |
Common Questions About Manufactured Homeownership
Does a manufactured home hold its value?
It can. A manufactured home can retain its value, or appreciate, under the same placement conditions as a comparable site-built home. Ask the community team how that applies to the home and community you’re considering.
Why do people choose homeownership over renting?
Owners and renters both point to the pride of ownership, not wanting to pay rent, and the ability to make a home match their individual tastes and needs.
Can I customize a manufactured home?
Yes. With a manufactured home, you can customize the space and features to match your needs and your preferred lifestyle.
Is a manufactured home a good investment?
For many Americans, a home is the primary component of wealth, and a manufactured home can be an affordable way in. Because every purchase is different, we’d encourage you to review the details with a qualified financial professional.
Start Living “The Good Life”
Today’s manufactured home is everything a home should be, and it can be the shortest and least expensive route to living “the good life.” Explore our communities to find the Temple Companies Lifestyle Community that fits you best, then contact the community team to arrange a visit.
Home designs, amenities, pricing, financing, tax treatment, and age-qualification requirements vary by community and by buyer. This page is general information, not tax or financial advice. Please contact the community directly for current details.