As a baby boomer or retiree, now is time to explore and live it up without sacrificing the pride, and comfort of owning your own home. If the dream of buying a house seems out of reach, have you considered a manufactured home lifestyle? 55+, and active lifestyle communities exclusive to manufactured homes, are making senior living more affordable giving folks the opportunity to get in on the real estate action. Today’s “mobile” homes are a far cry from the trailer on wheels from yesteryear with the look and quality of a traditional home for years of memories to come.
According to the Census Bureau, the average cost of a new manufactured home in 2015 was $68,000. The price tag is variable depending on the size of the home, and whether or not you own or lease the land. Many active adult communities operate on a land lease whereby you own your home but rent the lot you’re on. You’ll often find these retirement communities offer the feel of a neighborhood with amenities that put the fab in prefabricated like clubhouses, swimming pools, and fitness centers.
When you’re shopping around for a manufactured lifestyle community ask yourself where you’ve envisioned spending your retirement? Maybe the coast or metropolitan living has been calling your name. Going prefab opens up opportunities to go where your dreams lead rather than your wallet. Choosing an age-targeted or age-restricted retirement community is a personal preference based on location, and which amenities are important to you. Also many are required by law to adhere to the Housing for Older Persons Act (HOPA) which means 80% of homes within the community must be occupied by someone 55+, and provide services geared towards this lifestyle.
Affordability is a major selling point. Many manufactured homes are Energy Star efficient with a focus on green living that helps to lower overall monthly maintenance costs. If you’re a retiree or baby boomer you’d probably rather secure a comfortable nest egg than go house poor right? The downsides of going manufactured are depreciation, and fluctuations in lot rental rates, however the lower financial profile of a manufactured home may be worthwhile in the long run.
You deserve to retire in style, and whether you’re dreaming of a wrap-around porch near the water, or place in the city, buying a manufactured home is a worthy investment making the term mobile home a thing of the past.
