The dream of owning your own home comes with many doses of cold, hard reality. This is especially true right now, when lots of people are facing tough financial times that might make homeownership all but impossible.
Fortunately, there is a great alternative to buying a traditional home that’s much more affordable. Mobile and manufactured homes offer amazing layouts and amenities, and all without the steep price tags of standard-built homes. If you’re wondering whether the time is right to invest in such a property, this guide can help you decide.
Mobile/Manufactured Homes vs. Traditional Construction
While the prices for traditional homes vary based on size, location, and other factors, costs usually range between $200,000 and $300,000 on average. If you choose to purchase land and build your own home, costs are even higher. While most people use financing to purchase homes, meaning you don’t need to have access to the full amount of money to secure real estate, mortgage payments can still be quite steep with homes of this price.
When compared to mobile and manufactured home prices, the difference is startling. Some single-wide homes are available for prices starting around $60,000. If you’re looking for something bigger, many double-wides can be purchased for less than $120,000. Even triple-wides are reasonably priced, with many under $150,000.
Home Quality Comparisons
Mobile and manufactured homes have come a long way over the years. In fact, many larger models are often similar to traditionally built homes in terms of size and layout. These homes are also available in a number of floor plans, which ensures they meet your needs in terms of family size and design appeal. This allows more families to realize the dream of designing and building their own homes, which might not be possible when settling on traditional construction.
Other Factors to Consider
Some people choose to purchase land when building their mobile homes. While this increases costs, it also gives you and your family space to spread out. For example, you can choose to build other structures down the line, such as garages or decks You can also add on to your home as your family grows.
If you’re looking for a smaller residence and want a community feel, renting space in a mobile home part might be the way to go. With this option, you’ll have access to amenities like community playgrounds or recreation centers. Many mobile home parks also have swimming pools, which is ideal during hot weather.
Finally, you’ll also need to procure mobile home insurance to protect your investment. Insurance covers the mobile/manufactured home, but it also provides liability coverage. This safeguards you against the costs of a lawsuit if a guest or visitor is injured on your property.
What to Do Next
If you’d like to become a proud homeowner in Las Cruces, NM, it’s time to contact Fiesta Homes. For over two decades, our family-owned company has helped numerous customers find high-quality structures at affordable prices. We offer a variety of floor plans to ensure there is something for every homebuyer. We can also help you find the right financing option for your specific budget, whether that’s an FHA loans or land-home package.