Every year, millions of Americans enter a major stage in life: retirement. Florida, California, and Arizona are known to be popular retreats to soak up the sun year-round, but you do not have to settle down in these places to enjoy your retirement.
Many soon-to-be retirees consider mobile homes and communities. After all, there are notable manufactured home benefits to take advantage of, particularly for community residents.
However, people also consider condos when it’s time to retire. So, which one is better for retirement?
Together, we’ll explore the benefits of both mobile homes, and condominiums, and examine which is better for retirees in 2023 and beyond.
What Are the Benefits of Mobile Homes and Retirement Communities?
Benefits of Manufactured Homes
Living in a mobile home (or manufactured home as they’re officially called today) carries a lot of benefits that retirees should consider.
For one, living in a mobile home can be incredibly affordable. In fact, a new manufactured home in 2022 sold for just $105,805 on average according to data from MHI, compared to the average site-built home selling for $540,000 according to Statista. The numbers don’t lie: compared to site-built homes, mobile homes come in at 80% more affordable than site-built homes!
You are even more likely to benefit from savings if you live in a retirement community. Since you have access to amenities geared towards residents at the same stage of life, you will get the most value for your money.
When you rent a manufactured home, the benefits – such as the privacy of having your own home with your own front yard – are massive compared to renting an apartment. And with that privacy comes the peace of mind that comes with living in an age-restricted community, as many often have quiet hours and noise policies.
With MHVillage, you can start your mobile home rental search with ease! You can search from the hundreds of mobile home markets in the United States to find the perfect home for you, whether it has a gorgeous front yard, access to your favorite amenities, or whatever else you prefer.
Benefits of Living in a 55+ Retirement Community
We mentioned manufactured home communities a few times – but what are they, exactly? And why do they offer so many benefits for retirement living?
Simply put, a manufactured home community (also known as a mobile home park) offers homeowners in America the chance to own or rent a home while having access to all kinds of amenities.
In a retirement park – often referred to as an age-restricted community – residents must be over the age of 55. These types of communities have the needs of retired individuals in mind, making them a great option for those looking to live up their post-working years in comfort.
Here are just a few of the top amenities that make retirement community living so desirable:
- A Built-In Social Scene. Study after study shows a big, beneficial connection between aging and socializing. Clubhouses and lounges are increasingly becoming a socialization hub, whether it’s for a book club or a game of cards with your neighbors.
- Recreation in Your Backyard. With many retirement communities, golf courses, shuffleboard or pickleball courts, and other athletic facilities provide an easily accessible healthy lifestyle.
- A Low-Stress Environment. Walking trails, dog parks, and quiet hours are just a few of the ways you can live a peaceful, low-maintenance lifestyle in a retirement community.
- The Water-Lover’s and Travelers Paradise! Many retirement communities feature boat and RV storage, perfect for when you want easy access to your watercraft or your RV for your next road trip.
- Take a Dip. Pools, saunas, and spas are one of, if not the most, popular amenities in mobile home parks. Who wouldn’t want to relax in the pool or get some R&R in at the sauna?
- Waterfront Views You’ll Never Get Tired Of. When you live in a retirement community on the lake, every sunrise and sunset will be one to cherish.
Now, when you consider the amenities that are available in your community of choice, the value of buying or renting a manufactured home becomes even more appealing. Think about being able to play shuffleboard with your neighbors, or go for a swim down the street, all while spending less to live in your mobile home compared to a site-built home.
Many communities even cover some utilities, such as trash pickup, water, sewage, and internet, making the retirement lifestyle even less stressful when you have one less bill to worry about.
Now, it goes without saying that not every community will have every amenity. But, MHVillage can help you find the right manufactured home in the perfect community for you. You can even filter your mobile home park search to find homes in parks that have the amenities you most desire – more on that below.
What Are the Benefits of Condominium Living?
Condominiums – condos for short – are a popular source of housing for soon-to-be retirees that are often more recognizable to the average American.
So, what are the benefits?
For starters, condos are seen as more affordable than single-family homes. This can be for a variety of factors, including their size and their ability for flexible living. Condos are also less expensive than single-family homes since they usually don’t come with any land. And, they have a high amount of market density, giving buyers variety when choosing their condo location.
However, condos can often be seen as a more expensive option for homeownership compared to manufactured housing, especially if they’re near a busy downtown location, or in a high-demand market.
On average, a condo in the United States sold for $370,700 in 2022, according to Rocket Homes. This is higher than the $105,805 average for manufactured homes, but still cheaper than a site-built home which, like we mentioned earlier, averages at $540,000.
One important point to remember is that a condo is often built for multiple owners under one roof. So, you will likely have neighbors sharing the same building as you, unlike a site-built or manufactured home.
Comparing the Two Types of Housing
On the surface, manufactured housing and condo living share many similarities.
Both are similar, but not completely the same as purchasing a site-built, single-family home. They also offer a sense of equity and freedom that apartment living simply can’t.
However, manufactured home communities provide retirement-specific amenities that can be harder to find with a condominium.
Another major point in favor of manufactured homes is the fact that mobile homes offer a greater amount of privacy and independence. This is because you’re not living wall-to-wall with another homeowner like you would with a condo.
Like we mentioned earlier, when you look at the numbers, the average price of a new manufactured home is several times lower than that of a new condominium. And that doesn’t even begin to cover the prominence of pre-owned manufactured homes.
Which One is Better?
Overall, mobile homes are a greater value for the millions of Americans getting ready to retire in the next year and years to come. Getting the most value out of your dollar is crucial in retirement, and the more you save by renting or owning a manufactured home, the more you’ll have to do the things you’ve always wanted to do in your golden years.
It’s also worth noting that manufactured homes retain value just like a site-built home.
And when you factor in community amenities, as well as the other benefits of manufactured housing, mobile homes become a greater choice for practically any retiree.
Ready to start living the retirement lifestyle you’ve always wanted? MHVillage is here to help you get started!
With over 43,000 communities available to search on MHVillage, you can find homes in retirement communities across the country, with the amenities you most desire. The process is simple:
- Head to MHVillage.com/Parks
- Type and select your desired city, state, or ZIP code into the search box
- Use the Park Type dropdown menu to select “Only 55+ Parks” – this will filter your search to return ONLY retirement communities
And, you can even filter for other criteria too, like parks that have homes for rent!
So, what are you waiting for? Start your retirement mobile home search today!