Millennials are part of the generation that is now roughly aged between 23 to 38 years old. Manufactured homes may be loved by all generations, but they are rising in popularity among millennials today. Manufactured homes for millennials are popular for these 5 reasons – affordability, ownership, durability, eco-friendly, and design flexibility.
Manufactured homes offer one of the most economical prices as compared to other alternatives in real estate. This is perfect for millennials who have a tighter budget, especially for those who have just entered the workforce in the past few years. According to the U.S. Census, the average cost of a manufactured home in 2021 was $100,200 nationwide. On the other hand, the average cost of a site-built home costs more than $391,000. It is important to note that the national median family income in America for FY 2021 is approximately $79,900.
It is also significantly more cost-effective to maintain a manufactured home. Regular upkeep and repairs can break the bank in a larger site-built home. Existing on a smaller scale, maintenance and repairs for manufactured homes would only be a fraction of the cost.
Owning property offers a sense of independence and ownership, which is a feeling many millennials sought after. Having the ability for rent-to-own is one of the reasons why millennials are opting for manufactured homes instead. Another upside of owning your manufactured home is the possibility of an appreciation in value with the right conditions, if the manufactured home is sold.
Contrary to popular belief, manufactured homes are just as stable and secure as any other site-built homes. Strict standards are being imposed during the manufacturing and installation process to ensure that all pieces of the home are sealed together to withstand weather conditions. It is also built to last.
Manufactured homes are constructed with being eco-friendly in mind. The construction process of manufactured homes produces significantly less construction waste that clogs up landfills and causes pollution. In addition, energy-saving manufactured homes can use up to 55% less energy. This not only decreases its carbon footprint, but it also helps owners significantly lower their manufactured home’s energy bill.
Millennials love aesthetics and a perfect insta-worthy home! Manufactured homes offer millennials the opportunity to be in charge of the design, with options for porches, decks, garages, vaulted ceilings, and more. It is possible to integrate the elegance of a site-built home, such as hardwood floors, stainless steel appliances, and granite countertops. The possibilities of design in a manufactured home are endless, at only a fraction of the cost.
Find a Manufactured Home at Premium Living
If you are looking for a manufactured home, our home experts at Premium Living are here to help! We are your one-stop solution for all your housing needs, from customization to construction and home placements. Visit our model home gallery to get inspired and view our wonderful modular home models to browse multiple new manufactured homes. From the beginning of your search until we turn over the keys to your beautiful new home, knowledgeable staff will be able to guide you through your modular home purchase and building process with ease.