The ultimate American dream is to have your very own home. However, in today’s economy and competitive market, the reality is that many people all over the country are struggling to keep up with the rising cost of living.
A major factor contributing to this problem is the country’s lack of affordable housing. And with that comes a boom in mobile home industry. In this article, we discuss why mobile homes may be a great alternative in the face of massive housing shortages across the US.
Storz Management Company is an expert when it comes to mobile homes. We’ve been managing communities of mobile homes in California, Oregon, and Nevada for over 50 years. Call (916) 989-5333 to know more about our locations.
Why is there a shortage of housing in the US?
The shortage of affordable housing has been growing steadily since the Great Recession. American households lost over $16 trillion in net worth, and cannot afford to pay the prevailing real estate market prices.
According to the National Low Income Housing Coalition (NLIHC), there are two main reasons for this alarming house shortage:
- an increasing number of people who need affordable housing
- fewer homes being built that can meet people’s needs
The NLIHC reports that there are over 7 million households in the United States paying more than half of their income toward rent or mortgage payments each month. This statistic doesn’t even include other basic expenses like groceries or healthcare.
That’s why these households are considered to be “housing insecure.” This means they don’t have enough money left over after paying for housing to make ends meet on a consistent basis.
Why mobile homes may be the solution
Mobile homes are affordable and accessible
A mobile home is cheaper to buy and easier to maintain than a traditional one. With a median sales price of $51,000 for a new unit, a mobile home costs about one-third of what you’d pay for an average single-family residence in the U.S. This makes it a better option for people who can’t afford or access traditional housing options.
Moreover, mobile homes are built on factories and subject to strict quality checks, ensuring that each unit meets or exceeds industry standards before being delivered to its destination. This makes them perfectly safe and durable places to live in.
Even with an amazing location, the process of building mobile homes makes homeownership more affordable. That’s because there are fewer expenses involved in purchasing and installing the home than buying a site-built home.
And because mobile homes require less maintenance than traditional homes, you can increase your savings by avoiding major repairs through the years. For example, you wouldn’t need to perform a routine spring cleaning due to high foot traffic nor would you have to do regular lawn maintenance.
They have great site flexibility and resale value
Mobile homes can be placed on almost any site, provided that they’re in compliance with state and local regulations. They can be placed in remote locations where land is cheap and where there are few neighbors that will object to the structure’s construction.
They can also be situated on lakeside properties and other waterfront locations, which would otherwise have been inaccessible due to prohibitively high real estate values or geographic constraints (e.g, mountains).
In addition to flexibility in location, mobile homes’ resale values may increase over time. This is especially ideal for residents who don’t plan on living in their properties long term.
Mobile homes in California are a great alternative housing option, as they cost less than traditional homes while still providing quality living spaces. They also play a vital role in America’s housing crisis, as they provide homeowners with an affordable option that also offers customization and quality.
If you’re interested in a mobile home that offers great value and flexibility, work with a reputable company in the mobile home management industry to explore your options.
If you’re looking for a mobile home in California, Oregon, or Nevada, Storz Management Company is your partner in finding an affordable housing solution. You can reach us by calling (916) 989-5333 or sending us a message through this form.