How Regional Homes is Helping People Achieve the American Dream
June marks National Homeownership Month, which means it is a great opportunity to celebrate and champion the milestone of homeownership. As we reflect on this achievement, it is important to also share the many benefits of homeownership to families and communities. Also, we will discuss how play our part in unlocking the door to homeownership for families across the South.
Benefits of Homeownership
Generational Wealth
Owning a home can significantly boost family wealth by passing down equity. Unlike renting, where payments benefit the landlord, owning a home allows money to be invested in equity. This equity serves as generational wealth, providing children and grandchildren with a financial advantage. There's a widespread belief that manufactured homes do not appreciate in value, but HUD data shows that manufactured homes gain value at a similar rate to traditionally built homes.
Health Outcomes for Children
Affordable homeownership providing stable housing leads to enhanced health outcomes for children. These benefits include reduced health issues, better academic achievements, lower psychological stress, and increased confidence in parents.
Stronger, More Resilient Communities
Homeowners in communities are more interconnected and resilient due to their shared investment. This shared ownership leads to increased familiarity among neighbors, active participation in local events, and involvement in enhancing community projects. These interactions cultivate a sense of belonging that positively impacts both the community and the economy.
How Regional Homes is Helping Eliminate Barriers
Affordability
According to a Harvard Study manufactured homes cost an average of 27-65 percent less than comparable site-built homes. This is a result of reduced costs, less material waste, and increased efficiency from factory-building process.
Equity
Securing financing can pose challenges for numerous homebuyers, especially those facing bankruptcy, insufficient credit history, or limited funds for a down payment. Regional Homes collaborates with top lenders in the industry who provide specialized programs to address these obstacles.
Rapid Construction
The average construction time for a site-built home is 12-15 months compared 4-6 months for manufactured housing. This time difference is crucial for families that don't have the luxury of waiting.
Steps to Becoming a Homeowner
- Prequalification: The best place to start is by filling out our prequalification form. This will help our experts determine your buying power, and what type of home will fit best within your desired budget.
- Selecting Your Home: Once you know your budget, one of our home consultants will walk you through floor plans that fit your needs and price range.
- Customization: Now that you have selected your floorplan, you are able to customize and upgrade to fit your individual taste and design sensibilities.
- Financing: Moving forward with your final selections, you are ready to select one our partnering lenders.
- Construction Begins: Now that all of the beginning steps are finished, construction and land prep can begin!
You can view our full Home Buyers Guide for more information about the home-buying process.
Testimonials
"This has been the easiest process thanks to the sales team! From the start to the finish, you have help every step of the way. We can’t wait to be in our new home! 5 Stars all way!"