Downsizing to a Manufactured Home
It’s typical for homeowners to consider downsizing their homes at some point. Circumstances change over time, and what was once your dream home may have become a burden. Whether the kids have flown the nest or your financial situation has changed, downsizing to a manufactured home is a great option for lowering your cost of living and simplifying your life.
Should I Downsize to a Manufactured Home?
Housing costs are a significant portion of everyone’s monthly budget, regardless of whether they own or rent. Downsizing can lower day-to-day out-of-pocket living expenses. It can also provide a cash pool for various purposes, such as financial investment, health care expenses, and home renovations.
Downsizing has become a smart way to simplify life. The less-is-more philosophy is catching on with many homeowners, especially seniors. Some signs that you may want to consider downsizing include:
- Your financial situation has changed since you bought your home and your mortgage is a burden.
- You have more space than you need.
- You can’t stay on top of home maintenance.
- Your community no longer has what you need.
- You’re looking for a fresh start.
Downsizing can be accomplished in a variety of ways:
- Buying a Smaller Home: Some homeowners will downsize simply by selling their home and buying a smaller home in the same area. Smaller homes are usually easier to maintain and are less expensive in terms of property taxes and insurance. This option is popular among empty nesters who needed a large home to raise their children, and now are struggling to keep on top of maintenance.
- Relocating: Your location impacts your housing expenses. Some homeowners looking to downsize will choose to relocate to a less expensive area. This can significantly lower housing costs.
- Manufactured Home: Making the transition from a conventional home to a manufactured home can achieve a homeowner’s financial downsizing objectives. Manufactured homes are less costly to buy and maintain. Moving from a conventional home into a manufactured home has become an increasingly popular option for downsizers.
Is A Mobile Home Right for You?
In the past, manufactured homes had a stigma. The public perception of mobile homes has often been that they are low quality. It’s true that mobile homes had quality issues many decades ago before there were standards in place. However, in 1976, the U.S. Department of Housing and Urban Development (HUD) created a new set of standards, referred to as the ‘HUD Code.” The HUD Code provides codes that ensure the quality and durability of manufactured homes, so no need to fear. These days, mobile homes are made with high-quality materials and built to be virtually identical to stick-built homes for a fraction of the price.
Manufactured homes are an affordable option for homeowners looking to downsize. If you are in the market for a new home, we would love to chat with you about our mobile home dealership in Odessa. Contact us today to learn more!