Top 5 Reasons Why Senior Retirees Prefer Manufactured Homes

“Age is an issue of mind over matter. If you don’t mind, it doesn’t matter.”   Mark Twain

There are many reasons that manufactured homes remain the housing choice for senior retirees. Many healthy retirement age, low and middle income workers are living longer,and in many instances are delaying retirement plans, as a result of a lack of funds available to maintain a comfortable retirement, and compounding the matter, about one-half have less than $1,000 in savings.

For a retired individual, health costs are not going to be the most expensive cost. That title goes toward housing. For a growing number of seniors the remedy will be found with today’s modern well-built manufactured housing offering a solution for seniors to downsize, not downgrade.

The following are 5 reasons that seniors turn to manufactured housing in their retirement years.

• Acquisition cost will be 50% less than a site-built home with quality construction features, stringent fire and and wind safety requirements, state of the art amenities and features at least equal and often superior to a newly constructed site-built home.
• Reduced utility costs: An energy efficient manufactured home means smaller energy consumption.
• Lower maintenance cost: New manufactured homes are warranted by the manufacturer against defects and materials for a minimum of one year. Manufactured homes are the only single family housing in the United States subject to a federal building code (HUD Code), which also mandates the warranty provisions.
• Reduced or no property taxes: A manufactured home not permanently attached to real property will be taxed, in most states, as personal property. Manufactured home purchasers also have the option of placing and attaching the home onto owned private property, thus qualifying for financing under the same conditions as a site-built home. In other words, a manufactured home attached to real property is considered real estate in every respect.
• Manufactured homes can be customized to meet the requirements, wants and needs of the home purchaser, including upgraded energy saving appliances, cathedral ceilings, fully integrated covered porches, luxury baths, and much more. Some manufacturers can customize manufactured homes for those with mobility issues.

Manufactured homes continue to remain the number one housing option for seniors retiring from the workforce. In fact, the greater portion of households that live in manufactured homes are headed by a retiree (32%) than site-built homes (24%), as per CFPB Analysis of Consumer Finances Survey. Baby Boomers are perhaps the biggest advocates of manufactured home ownership and tend to  be very involved in encouraging other seniors and friends to join in this lifestyle.