For more than a decade, low- and medium-income homebuyers haven’t had many options.
According to the National Low Income Housing Coalition (http://nlihc.org/research/gap-report
) the US faces a shortage of 7.4 million affordable homes among the nation’s lowest income households. And the shortage affects residents in every state and major metropolitan area.
New homes aren’t being built at the same rate as in the past, and limited inventory of single-family homes means higher prices. Additionally, rapidly rising healthcare costs worsen the situation by making it almost impossible to save enough cash for the down payment on a new home.
So where can potential homebuyers turn?
Manufactured Homes Put Buyers in Control of Housing Budgets
The news for homebuyers isn’t all bad. Innovative developers and homebuilders like UMH Properties, Inc. offer hope for this underserved segment of the population. For about the same price as renting a one-bedroom apartment, potential buyers have the option of purchasing a brand-new manufactured home in convenient, well-placed communities.
You really can buy a home today without taking on huge mortgage payments that squeeze the life out of your lifestyle. Starting at just $59,900, the average 3-bedroom, 2-bathroom UMH home costs about 50-60% less than site-built homes.
Manufactured homes, located in attractive, amenity-rich land-lease communities, offer homeowners benefits that site-built homes don’t. Since UMH communities take advantage of a land-lease structure, they’re able to keep expenses even lower by eliminating closing costs.
Founded in 1968, UMH appeals to residents of all ages by offering affordable, comfortable, appealing lifestyle choices throughout the Northeast and Midwest. UMH communities can be found in Indiana, Maryland, Michigan, New Jersey, New York, Ohio, Pennsylvania, and Tennessee.
For more info about an affordable brand-new 2-3 bedroom, 2-bath UMH home, please visit UMHSalesCenter.com