Mobile Homes |The changing Housing trend
Canada has been predominated by the trend of home ownership. The majority of Canadians own their dwelling, with only 32% of the total population renting, according to Statistics Canada. The home ownership rate rose steadily for almost four decades, going from 60.3% in 1971 to 68.4 in 2006 and culminating at a high of 69% in 2011.
However, the 2016 Statcan census marked the first decrease in share of homeowners in almost half a century. We saw a 1.2% decline in the country’s home ownership rate down to 67.8%. In 2016, the share of homeowners decreased in 17 of the 20 cities that showed the most significant increases in home ownership rates up until 2011. This drop in home ownership automatically indicates the increase in renting.
There could be a whole lot of reasons for this shifting curve in home ownership. The effects of Canada’s resource-based on the economy. Constantly, fluctuating trends in exports and imports, declined wages, etc. And they have result in the lower purchasing power for the Canadians to own a home.
With this shifting trend in a competitive economy, Manufactured homes, or more commonly known as mobile homes come into the picture as relieving alternative housing options.
Manufactured Homes or Mobile Homes-Alternative options to Home-ownership
Mobile homes are built with advanced engineering and construction methods to ensure energy efficiency. They continue to build in a control factory environment. This means every part of the home from the front door to the bathroom sink is under protection. And this is from weather-related damage, vandalism and other hazards.
Many low- and middle-income households definitely see mobile homes as an affordable alternative in today’s economy where the regular housing costs are increasing way more than people’s incomes.
Most homeowners who finance the purchase of a manufactured home don’t get a traditional mortgage because it works differently. When the structure is considering as an asset usually The landowner or renter can own or rent. People can either rent the land through mobile home parks for a cheaper price. Either, you can own the land and put a mobile home on it.
Using your Mobile Home as an Asset
If you already have a paid out mobile home that is insured, it could wonderfully qualify as collateral at BHM Financial for a mortgage up to $ 25,000 for any of your other financial needs. Mobile homes are definitely cheaper. Moreover, Convenient alternative assets which will very soon be on the rise as fast as regular homes.
Pest Control Toronto | Pest Control Mississauga | Pest Control Oakville | Pest Control Burlington | Pest Control Hamilton | Pest Control Richmond Hill