2019 PREDICTION: FIRST TIME HOME BUYERS WILL DISCOVER THEIR CUSTOM AFFORDABLE DREAM HOME AND IT WILL BE BUILT IN A FACTORY
“In Winter, I Plot And Plan. In Spring I Move” – Henry Rollins
Spring into summer is the time of the year when many Americans aspire to fulfill the unique American dream of homeownership. The good news for some of those dreamers is that the number of first-time home buyer purchases in 2019 will remain near 2018 levels, in spite of traditional home prices continuing to rise and projected mortgage rate increases, according to the 2018 Zillow Group Housing Trends Report. (The “real estate” report did not necessarily factor manufactured home purchases into the analysis).
The not so good news is that 2019 home sales, equaling 2018 underperforming levels, will likely result in many lower and middle-income hardworking Americans again priced out of the traditional site-built home market and will continue to forego, indefinitely, the elusive quest for affordable homeownership – in the traditional sense.
Our prediction for 2019, is that many of those first time home buyers have already discovered, or will soon discover, that vision of an affordable dream home is available now, and is, or will be, custom built in a factory – today’s modern manufactured home.
There are those that contend that for America to solve its acute affordable housing shortage it must “grow up” – that is, build denser rental housing and give up on the idea of a “ranch house” lifestyle with ample backyard space.” Today’s Millennials reject that contention.
“Tech Savvy” Millennials Account For 42% Of the Nation’s Home Buyers
Millennials (age 24-38) account for 42% of the nation’s home buyers, comprising the single largest share of all home buyers and the largest share of all buyers, and the largest group of first-time buyers.
Contrary to popular belief, Millennials aren’t that much different from previous generations. Most of them aspire to own their own homes with backyards, just like their parents and/or grandparents.
79% of all home buyers rely on online tools to locate their home.
It would be reasonable to assume that “tech-savvy” Millennials who explore and become aware of the large choices of manufactured homes, 1000’s displayed here at ManufacturedHomes.com, will discover that a home built in a factory is, in every respect – everything a home should be
Custom Manufactured Homes Equal And Often Superior To Site-Built At Half The Price
A new comparably sized and located manufactured home with construction quality, safety features, energy efficiency, appliances, decors, floor plan choices, amenities, and aesthetics will have a price of up to 50% to 55% less than a newly built or existing (used) site built home, not including land.
Advances in building technology, design, skill, and efficiency have enabled manufactured home producers to offer a new home customized and personalized to meet the specific needs, tastes and desires of the home purchaser.
Want more reasons to own a beautiful high-quality affordable home built in a factory? Check out our previous post, click- “The Booming Millenials Love Affair With Manufactured Housing”
Report: Post-Millennial Generation First-Time Home-Buyers Also Prefer Today’s Manufactured Homes
Post-Millennial first time home buyers, Gen Xers (age 38-53), Baby Boomers (age 54-72) and the Silent Generation (age 73-90), are also choosing the advantages of manufactured home ownership. Older (40+) first time home buyers are less likely to purchase a townhome, condo or duplex/triplex, and more likely to buy a manufactured home, according to the Zillow research.
Many Baby Boomers in 2019 are planning on moving to a new area after retirement to be closer to their children and/or grandchildren. The thought of learning all the ins and outs of a new housing market can be exhausting and frustrating – much less getting into a bidding war over a condo that they are only half-hearted about in the first place. Creating their own customized manufactured home means getting their dream home without all the headaches and financial burdens associated with real estate house hunting.