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Top Reasons People Purchase Manufactured Homes
MARYVILLE, Tenn., Feb. 13, 2015 /PRNewswire/ – Clayton Homes, America’s largest homebuilder*, has produced an exclusive “Millennial Homebuyer Research” report focusing on the attitudes about manufactured homes, particularly as they relate to millennials and first-time homebuyers. This study was conducted by Hanover Research in September 2014 and includes the responses of 547 participants.
The research results conclude that as the millennial generation matures and improves its buying power, it will become one of the most influential market segments in the housing industry. Companies that build, rent and sell housing will need to cater to this emerging generation in order to stay relevant in the coming years. This fact, coupled with the overall attitude change in home buying after the recent housing crisis, has forced homebuyers to think differently about their future investments.
“People today expect more customizable options and upgrades when they are looking at housing options,” Clayton Homes CEO Kevin Clayton said. “They are not only focusing on a home that is affordable, but one that fits their personal wants and needs.”
This research conducted by Clayton Homes shows that the millennial generation is unlike others when it comes to their housing wants and needs. Comprising 80 percent of first-time homebuyers, millennials are drawn to value above all other product perks. Quality and customization are worth the extra costs, as long as they can get a home tailored to their lifestyles. Some takeaways from Clayton’s survey include:
- Forty percent of those surveyed between the ages of 18-34 (millennials) plan to buy a home within the next four years, creating a huge new pool of potential homebuyers. Millennials are more likely to consider manufactured housing than non-millennials.
- The millennials surveyed are less concerned about the size of their home as compared to previous generations. They look for smaller, more-efficient spaces, but want those spaces to have design accents and the latest technology. Check out the Next Generation Infographic video.
- 91.1 percent of homeowners surveyed consider energy efficiency extremely important. Compared to older site-built homes, the modern manufactured home is much more efficient, and Clayton Homes offers ENERGY STAR® certified homes as an additional step to home efficiency.
“Homeowners today are looking to invest in value, but expect to get all of the modern upgrades and features as well,” Clayton said. “Because of our affordability, focus on energy efficiency, customizable features and world class customer service, Clayton Homes is set to open doors to homeownership for many years to come.”
ENERGY STAR® and the Energy Star mark are registered trademarks owned by the U.S. Environmental Protection Agency.
About Clayton Homes
Clayton Homes has built quality homes since 1956, winning multiple awards for design and construction. Through its affiliates and family of brands, Clayton Homes builds, sells, finances, leases, and insures manufactured and modular homes, as well commercial and educational buildings. As the nation’s largest home builder*, Clayton Homes is a vertically integrated Berkshire Hathaway company whose purpose is opening doors to a better life, one home at a time.
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