In this modern world where affordable housing stock seems to be growing scarcer by the day, mobile homes – manufactured and modular alike – are really gaining serious steam as a practical and cost effective alternative to traditional housing.
In this post we’ll be taking a look at the facts surrounding mobile homes and key reasons why this industry is becoming the next big thing in real estate.
Michael Scott Mobile Homes is a really good online resource you can check out for more information, and it’s always wise to go online and do your research before making major lifestyle changes.
Mobile Home Living Is So Much Cheaper
Whether you buy a mobile home and rent a lot within a mobile home park, or simply choose to rent both the home and lot, you’ll be saving yourself a ton of cash by switching from traditional house and apartment living to the mobile home lifestyle.
It’s one of the main reasons so many Americans are choosing to downsize and simplify their lifestyles and are moving into mobile home parks.
High rents and skyrocketing mortgage payments are turning people off the regular housing market. Living in a mobile home helps people crawl out from under mountains of debt and high expenses, enabling them to actually live again and afford a better lifestyle all round.
The Lifestyle Is Better for Mobile Home Park Tenants
Along with saving money, tenants in mobile home parks are greeted with a lifestyle that’s more relaxed. They also have more free time on their hands as they no longer have to spend weekends cleaning and maintaining a large family home.
There is a real community vibe that both kids, adults and seniors enjoy, and many mobile home parks have facilities like holiday resorts.
There might be a swimming pool, BBQ areas, kid’s playground, game’s room, laundry facilities, on-site convenience store and more.
Mobile home parks also offer a real sense of stability and security for park dwellers, and that’s true peace of mind.
For Investors, Mobile Home Parks Make Financial Sense
From a property investor viewpoint, focusing on mobile home parks is really a no brainer. For starters, the demand for mobile homes is high and on the increase each year, with some 50,000 mobile home parks across the country. You’ll never have an empty mobile home park. More than likely it’ll remain filled to capacity.
As an added benefit of this demand, tenant turnover will be low as once people are in a mobile home park, they’ll want to stay.
Another key point to note about buying into mobile home parks is you spread the risk factor. Many parks have several hundred mobile homes, so even if a few are vacant for a time, it’ll barely dent your cash flow as you have so many other tenants paying rent each month.
Low Competition From Other Property Investors
While the majority of property investors are stuck in the mindset of buying stand alone houses and expensive apartments, many have failed to see the opportunity that investing in mobile home parks provides.
This is fantastic news for savvy investors who have recognized what an awesome opportunity these parks are, as it means way less competition in the market. You’ll really have your choice of parks to buy into and no other hustlers driving up the price.
Good Management Helps Investors and Residents Alike
On-site managers take care of the running and maintenance of the mobile home park on behalf of the owners and the residents. This further adds to their appeal on both sides of the fence. It’s just another advantage mobile home parks have over conventional housing.
For residents, mobile home parks mean a much cheaper and freer lifestyle, allowing them to truly live again rather than just struggling to exist.
For investors/owners, mobile home parks present a thriving opportunity to see an incredible ROI in a real estate industry that’s booming right now.
The popularity of mobile home parks is only going to continue to rise in the coming years.