Why Millions Are Choosing Mobile Homes As A Smart Low Cost Housing Alternative

A mobile or manufactured home is a prefabricated structure that has been built in a factory. Once finished, it’s attached to a permanent chassis and taken to a plot of land. It can be left there permanently or semi-permanently. Mobile homes can be used as permanent residences or occasional holiday homes or second homes. In the United States it is estimated that around 20 million people live in mobile homes as they were once the only low cost housing solution. However, demand has increased in recent years, pushing rental prices up for some plots as high as a monthly apartment rental.

How do mobile homes work?

Originally the mobile home was designed with the traveler in mind. Many people needed to roam the country in order to prosper, and a mobile home meant they could take their home with them. A mobile home also has tax benefits, as it is categorized as a vehicle and not a home. As time went on, the homes got bigger and moving became more cumbersome. The cost of buying one and then renting a plot of land on a mobile home park was way lower than buying a permanent home. A mobile home is built on an axel and is moveable, so they were still not taxed like a permanent structure.

The pros of living in a mobile home

Affordability is by far the top benefit of choosing a mobile home. Many parks are age restricted which is perfect for retirees, others are more family oriented – whatever your life stage you can choose to be with like-minded people. Depending on the park you choose, it may also come with community benefits such as a pool, social program and fitness center.

The cons of living in a mobile home

The biggest drawback is the stigma attached to them really. Also, it’s worth noting that whilst affordable, they depreciate in value much like a car, so they are not an investment opportunity (unless you own the whole park).