Are Manufactured Homes Good Options for First-Time Home Buyers?
December 15, 2022
Yes! Manufactured homes (formerly called “mobile homes” or “trailers”) in a planned, managed community are great ways to start home ownership.
1. An Economical First Step
The median value of a manufactured home nationally is $61,400, which is $220,000 less expensive than the median value of a traditional single-family home. That means less down payment and lower monthly payments.
2. Beautiful Homes
Hames – The Homes People® have manufactured and mobile homes for sale with 1000 to 2400 square feet of living space and 2, 3, or 4 bedrooms. Move-in-ready preowned homes are refurbished using a comprehensive 96-point checklist. New homes come with a 1-year manufacturer’s warranty.
3. Build Equity
Dealers like Hames Homes and its financing affiliate Circle Finance LLC NMLS #366020 are specialists in lending for manufactured and mobile homes. Manufactured home financing generally has shorter loan periods than real estate mortgages so borrowers pay down principal faster and create equity sooner.
Contrary to popular belief, manufactured homes APPRECIATE in value! According to lendingtree.com, manufactured homes grew 34.58% in value from 2016-2021.
4. Easy Maintenance
Buyers inexperienced with home maintenance find manufactured homes to be appealing alternatives to larger site-built homes. Hames sales professionals perform a thorough walk-through with new homeowners and explain home care basics. Small yards provide privacy but generate less work than a big lawn. And there are no basements that flood.
5. Managed Communities
Residents in Hames planned, managed mobile home parks feel confident because neighbors are screened before acceptance. On-site property managers in both Hames communities are available 24x7 for resident emergencies.
6. Great Locations
Grand View and Summit View manufactured home communities are within minutes of Westdale, restaurants, grocery stores, CRST Transportation, Eastern Iowa Airport, I-380, Kirkwood Community College, and the Amana Colonies.
View Model Homes
First time homebuyers can view attractive model homes in friendly neighborhoods at Hames’ Grand View sales office at 5410 Wabash St. SW in Cedar Rapids, Iowa or online at HamesHomes.com. Sales and financing specialists are available by calling (319) 377-4863 or contact us online!