For many, owning a home can feel like an intimidating goal, but we’re here to change that narrative. Here at FMHA, we want to show you how homeownership can help you reach financial freedom. With financial freedom, you can pursue your goals and start making your dreams a reality because of the stability in your finances. So, what’s the secret to becoming a homeowner? Buying a manufactured home.
Manufactured homes are perfect for first-time homebuyers with a limited budget. Our manufactured homes don’t compromise quality just because they are more affordable than site-built homes. Each home is carefully crafted in a factory setting that strictly enforces proper coding to ensure that your home is of the highest craftsmanship, appearance, and safety. Manufactured homes often cost 50% less than a traditional home built on-site, but are still eligible for mortgage financing in most situations.
Increase Your Net Worth
Becoming a homeowner can also help you attain financial freedom in a couple of other ways as well! Firstly, owning a home increases your net worth. According to the Federal Reserve’s Survey of Consumer Finances, homeowners have 44.5 times more net worth than renters. Just by purchasing a home, you can build wealth. Additionally, your home will appreciate and allow you to build wealth in the form of home equity.
Save Money & Budgeting
Homeownership also provides financial freedom by forcing you to save money and budget properly. Your monthly mortgage allows you to have a fixed housing payment so you can anticipate monthly expenses rather than moving around fluctuating rental prices. With a mortgage, you’re able to pay down your principal amount and increase your equity, all while building your own wealth.
Still have questions or want to learn more? Check out our home buying guide today to learn more about how you can become a homeowner and experience the gift of financial freedom.