Thursday, November 9, 2017

Why Millennials Shouldn't Push Off Home Ownership

Most Americans have the notion that affordable housing isn’t readily available in the US. The reality is that over the past two decades, the availability of affordable housing has decreased, and the crisis continues to grow. Financial hurdles have prevented this generation from making a full impact on the market. The population of people born from the mid- ‘80s through the late ‘90s generally has higher student debt, as well as higher costs associated with the new standard of living.

Culturally, many of us want our own space, our tree-lined streets and our beautiful communities. But how will we ever get there? With all the obstacles, many millennials would rather push off buying a home and deal with rising rent costs, meaning the ability to purchase a home in the future drops. Rent costs continue to rise and the availability of affordable rent options continues to drop. Money that could go toward a home project continues to get invested in apartments that you can never call your own. Nearly half of home buyers cite student loans as their largest barrier to buying a home. On top of all the other barriers to home ownership, there’s a national shortage of housing options.

It’s not just about home ownership anymore. It’s about having a home that was built efficiently in an ISO 14001 registered building facility where environmental management systems are in place to help preserve energy resources. It’s about having energy efficient features in your new home that help save energy and even more money. It’s about the opportunity to have monthly costs that won’t change with the demand for the apartment or room you rent.

We are a generation of home buyers raised during the housing crisis. Millennials are understandably slow to enter the housing market. However, as many newcomers explore prefab home options, more and more are coming around to the idea. More than a third of the American workforce is made of millennials.

If you’re in this generation and want to buy a home, you already may have encountered frustration. The journey may be difficult but it’s not impossible. We specialize in giving alternatives to rising rent costs. Here are six reasons why manufactured housing is the best investment to make RIGHT NOW as a millennial.

1. DURABILITY. A prefabricated home is just as, if not more, durable than the traditional site built home. As a home is transported from a manufacturing facility to its destination, it must withstand rigors like strong winds. A modular home model is sent down the highway as well, with each module eventually joined on its foundation. As the sections are joined together, the marrying wall they share is a strong point that helps the home resist environmental stresses. By nature, a manufactured home is built for a lifetime of comfortable living.

2. CUSTOMIZATION. While every model is built based on an existing floor plan, many have the ability to include customized features. When aspects of another floor plan really stand out, a home building facility can incorporate those features into other models. Different colors, layouts, design schemes and features can make up the home of your dreams!

3. VARITEY. There is something for everyone. As student loans hinder many from finding their own home, millennials are looking for a home that can pull double duty. Home offices, gyms and theaters are just a handful of examples people create using flex space offerings. You can get a breakfast nook or a full utility room that is large enough for a washer and dryer, even a closet and sink. You also choose where you want to place your home, whether you put it on your dream property or in a community. The possibilities are limited only by your imagination!

4. INCENTIVES. There's never a bad time to come out and visit us in Whitney Point! We run promotions throughout the year and we always strive to customize our projects to fit every budget. Don’t hesitate to visit us and to check out the latest deal that will help you save!

5. RISING RENT. Crazy rent costs are getting ridiculous. Landlords are placing increasingly stringent restrictions on their properties, and the penny pincher millennial understands that building equity is an important part of establishing both strong credit and a presence in your community. Building with us lets you put your dollars towards something that counts for your future.

6. SATISFACTION. There is nothing like walking around in your own home. Apartments are crammed into smaller spaces and the millennial home buyer is looking to get some elbow room.  When you have a space to call your own, you can focus on attaining your own American dream.

Life is too short to throw away your hard-earned money on something that makes you unhappy. Visit us today to discover your manufactured home options!

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