Why is stereotyping not healthy, or what do you mean by “luxury mobile homes”?

We live in a society that stereotypes and generalizes every person, situation or object. As John Gray called out in his book, “Men Are from Mars, Women Are from Venus”, women stereotype men and men stereotype women. So, when someone says, “I live in a mobile home”, most automatically imagine a tiny trashy place that may hardly be called a home.
What if I said that this specific stereotype about mobile homes or folks that live in a “manufactured home”, as they are also termed, is the furthest from the truth. There’re of course, areas that still have the old-style mobile home parks that have not been updated in years or even decades, however, the modern newly-built manufactured home parks are very different. They break every notion about mobile homes; in fact, they are aesthetically pleasant fully functional communities that offer a less expensive option to folks that choose not to purchase a more expensive house or condo. So, if you have not had exposure to the Mobile Home Parks as a potential investment option, let me give you the reasons to consider such an investment:

High-priced residential locations. As I mentioned above, there are certain neighborhoods that are simply financially unattainable for regular working families. Being an immigrant I’m very familiar and personally experienced the subject of affordability. When we came to US, my mom and I couldn’t afford anything large, so we rented a small one-bedroom apartment that we shared with my aunt and her daughter in a less expensive neighborhood. So, if someone wants to be close to a large Metropolitan Area, but may not be able to afford its prices, considering a mobile home park nearby will allow them to live in proximity to great schools and jobs.

The demand drives prices. As you may know, the most popular commercial asset is multifamily. So, the demand for multifamily is much higher than for mobile home parks. The lower demand allows for flexibility in pricing. Hence, it’s easier to buy a moderately priced mobile home park than a multifamily. As a mother, I am always looking for safe and conservative investments. Since mobile home parks prices translate into a more negotiable price, that would be one of the driving forces for my decision to invest in it.

Lower expenses per unit. Since the ownership of mobile home parks generally includes only land, expenses such as property taxes and insurance, therefore only cover land. Each mobile home owner pays taxes and home insurance, as well as the electric and water bills; while the mobile home park owner only pays for the common areas.

Less expensive maintenance costs. Similarly, since the ownership costs of each mobile home is the purchaser’s responsibility, the mobile park owner maintenance costs only include common areas. In other words, the park owner is not responsible for costs to replace windows, doors, appliances, bathrooms, kitchens, and so on. This arrangement saves a significant amount of money when it comes to park ownership expenses!

Pride in home ownership. Since each of the mobile homes is owned individually, it is that specific owner’s responsibility to maintain them. Just like any other homeowner, the mobile home owner also wishes their homes to be esthetically pleasant. A mobile home owner can have skylights, hardwood floors, washer and dryer, dishwasher, and a whole lot more that most people never imagined. When a mobile home park owner keeps the community areas attractive, this also reinforces the desire of the mobile home owners to take pride in their ownership.

Folks love their privacy. There are definite benefits to not sharing walls with a neighbor, which is a given in a condo. You can play your music a little bit louder, you can have a few more people over, and you don’t have to worry about disturbing your neighbors.

Emphasis on “Home” in Mobile home. The mobile home is exactly what a lot of families always wanted; it is cozy, comfortable, cost-efficient, two bedrooms and two bathrooms, with an awesome kitchen, and nice neighbors.

While these are only a few benefits of owning mobile home park communities, there are many more that make them an attractive investment.