February 4, 2022

Four Reasons Retirees Prefer Living In A Manufactured Home Community

Modern Manufactured Home Interior

4 questions to consider before buying a home

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Simple steps to buy a home successfully

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Consider your finance options, and then choose the best one available

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Make an offer with some wiggle room for negotiation

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Which other tips do you recommend when buying a home?

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As large numbers of baby boomers reach retirement age, their interest in aging in place has increased. This factor has led to numbers of retirees living in manufactured home communities to increase in recent times as 90 percent of older adults in America believe that they will continue retiring in a home that is affordable. Here are several other reasons behind this growing accommodation trend.

Lower Costs of Living in Manufactured Home Communities

A manufactured home costs a fraction of a site-built house. According to records, the cost per square foot for a manufactured home is at least 10 to 35 percent lower than a similar site-built home, without factoring in the cost of land. Apart from home financing costs, manufactured home community residents also pay monthly rent for their living space. In general, the costs of manufactured home rentals are less expensive than renting an apartment as they are also simultaneously paying off the home while paying space rent.

Designed for Aging in Community

Manufactured homes offer common spaces that support healthy aging in place. Members stand to enjoy a physical and social environment, a safe setting and a network of neighbors who can help keep an eye out for one another. Manufactured home communities have various design features like limited entrances and exits, perimeter fences or screening, and narrow roads that do not connect to public streets. Members also get to stay socially engaged at the clubhouse of manufactured home communities where they get to participate in a wide array of events and activities that can help support their physical and mental health. They can also hold themed parties and celebrations to maintain healthy aging. Every member of a manufactured home community knows each other so immediate assistance can be rendered should an emergency situation arise.

Stretching The Limits

A helping hand can definitely let residents accomplish a lot. Neighbors can help one another to take care of a pet when they are away or support each other in many other ways on a voluntary basis.

Preserving The Option

The greatest challenge of aging in place is the threat of community closure where residents can be put at risk of displacement. For manufactured home communities, there are local jurisdictions that the developers need to abide by. This allows manufactured home community members to be subjected to their individual leases which clearly state the frequency or rent increase and the different terms and conditions that protect them from unlawful closures. This whole process makes aging in place at a manufactured home community less risky where members can look to continue living with peace of mind for as long as their term agreement lasts. Developers need to provide notice to residents before closing so they have plenty of time to find alternative accommodation that can prevent them from being stranded without a proper living arrangement.