With the housing market as hot as it is in 2022, it is no surprise that many people are choosing to downsize and look for more affordable housing options. With a park model home, you get many of the same amenities as a conventional home in a smaller, more affordable package. Let’s look at how you can save money by choosing a park model home.
Less Expensive To Purchase
One of the most obvious reasons that people are choosing park model homes over larger homes is that they are less expensive to purchase. Park model homes are affordable and can cost 75% less than a conventional home.
Usually Has More Affordable Financing
Due to their lower price, the financing payments on a park model home are a fraction of what you would pay for a mortgage. This allows you to set aside more money each month for other aspects of your life, such as investing or paying for other items.
Affordable Enough To Pay In Cash
With the very low overall cost of park model homes, those who have saved up for a down payment for a house might be able to afford to pay the park model in full in cash. While this may not be everyone’s ideal situation, it can help save money in the long run when taking interest into account.
Electrical Costs Are Minimal
With the smaller size of a park model home, you will have a lower electrical cost due to reduced cooling, lighting, and heating needs. You can reduce your electrical costs even more by installing LED lights, utilizing a cross breeze with your windows, and using natural light.
Cleaning & Maintenance Costs Are Low
Lastly, the maintenance cost and the time you will spend cleaning will be greatly reduced. With the smaller size of a park model home, the number of items you will need to maintain will be much lower than a large conventional home.