Buying a mobile home is a great alternative to renting. For the similar monthly payment as renting a 3-bedroom apartment (around $950/mo in typical financing*), you can buy a brand new manufactured home in Hillcrest Estates in Altoona and Villa Diann in Eau Claire. Here are 5 reasons why buying a mobile home in our communities is better than renting a house or an apartment.
Reason 1. You build Equity
Suppose you have rented a nice house in Altoona. After your lease is over, you don’t have any ownership (equity) for the rent you paid. Let’s suppose you bought one of our homes at Hillcrest Estates instead. Every month, you are paying down the loan on the house. You are building equity. After several years (depending on your loan term), the home will be paid off. If you decide to move, you have paid down the loan, so that you will be able to sell the home.
Reason 2. Rent Increase is Much Smaller
You keep renting over the years, your rent will keep going up. I bet in near future, 3-bedroom rent will be close to $2000. Every year, you will have to keep up with the rent increase. On the other hand, if you buy a mobile home, your loan payment stays the same until you pay off the loan. You do pay lot rent in our communities. Lot rent, however, much lower than apartment or house rent. (as of this March 2018, our lot rent is around $340). Because the lot rent is so much lower than apartment rent, increase will be much smaller. When there is an increase, it will be tens of dollars instead of hundreds of dollars.
Reason 3. You can Customize
When you buy a mobile home home, you can do what you want with it. You choose the color you like. You can order that fireplace you always wanted (our manufacturer has that option). You can have a glamor bathtub. You can install grab bars near toilet. You can build a deck with a grill. It’s yours so you can change it the way you want. The list goes on. Imagine asking your landlord to do all that to the rental. You will get a funny stare and hear ‘No.’ (with varying degree of politeness)
Reason 4. You Have More Space
Each mobile home in Hillcrest and Villa Diann is a separate unit, with no shared walls. There are roads, gardens, yards separating each unit. This means each home has much more privacy and space. You no longer have to hear your neighbors coughing, flushing toilets, arguing, watching television, etc. This means that you have more space. You get your own carport. You have your own garden. If you have kids, they have more space to play. You have more space to spread out. It’s simply more comfortable.
Reason 5. You feel more stable
This last reason is intangible, but just as important as others. When you become a homeowner, you just feel more stable. You are not constantly wondering if you are going to move next year. You live in a home that you own. This also creates a sense of community. In Hillcrest and Villa Diann, we are also making a big effort to provide pride and sense of community. We will be making improvements and Are you ready to be a homeowner? Or want to start a conversation about it?
Give us a call at 715-834-6802 today. Homeownership in Chippewa Valley is closer than you think!
*As of June 2018, our homes start around $48,000. I am assuming 10% down at 9% interest for an example. The numbers are approximate. We can give you better idea when you call. The price is subject to change.