More People Are Living Alone and Buying Manufactured Homes
The National Association of Realtors (NAR) reports that since more Americans are marrying later, divorcing frequently, and living longer, greater numbers of people are living alone.
Single buyers comprised a quarter of all home purchases last year according to NAR. The living solo trend is evident in the country’s 33 million one-person households.Young adults ages 18 to 34 are the fastest growing group of people living alone. However, what the NAR report did not address is that more and more of these entry level home buyers are choosing today’s manufactured home as the preferred choice for solo habitation.
Purchasing a manufactured home can be a means of self expression for singles, and they can express their lifestyle and values while focusing on the exact communities, home styles, and features that cater to their individuality with much less compromise. A majority of solo households are also mostly women; 18 million women live alone compared to 14 million men, and twice as many single women bought homes compared to single men in 2012.
Around 11 million Americans living alone are elderly, and the majority of these solo households are in cities and metro areas. Many of these homes are cited in manufactured home subdivisions or land-lease communities designed to accommodate those in the ever-expanding 55 plus years age demographics.
There are thousands of all-age communities and senior communities across the country that are equipped with country club type facilities, social activities, and security that appeals to the needs and desires of singles at any age. Most seniors, as well as other singles, are particularly desirous of the independence, safety, maintenance-free and social aspects of the manufactured home community lifestyle.
A single buyer can face challenges in this post recession market, especially when it comes to qualifying for a home loan. A single buyer cannot rely on the advantages of dual incomes or shared responsibility that a two person household does. That being said, single buyers are not dragged down by a partner’s credit score, loans, or credit loan debt. The aforementioned down side can also be mitigated with the purchase of a new manufactured home that will cost 15 to 35 percent less than a comparable site-built home.
Single person households are prominent in other countries as well, with the largest number (47 percent) in Sweden. The United Kingdom has a rate of 34 percent, Japan is 30 percent, and Norway is 40 percent. The biggest difference for singles in these countries compared to the U.S., is the availability of manufactured homes in our country. The all American dream home, especially for single heads of households who desire to live an independent and quality lifestyle can be found in today’s ever-accommodating manufactured home.