OREM, Utah, Aug. 13, 2024 /PRNewswire/ -- Havenpark Communities, an operator and developer of manufactured home communities, announced today that homeownership rates are increasing across its properties. With dozens of home sales every month across its communities, Havenpark is meeting the growing demand for high quality housing options at affordable price points in areas of the country with desirable amenities and great schools.
"Homeownership is part of the American Dream and we are proud to be making that dream a reality for so many families, retirees, and first-time buyers across the country," said Havenpark CEO and co-founder Robbie Pratt. "Well-maintained manufactured housing communities like ours offer new entrants to the market, great homes that are more spacious and private than apartments, with the perks of community living like recreation areas, clubhouses, and dog parks. And importantly, manufactured home owners see their home values increase over time, which can put them on a path to building financial stability and substantially increasing net worth."
According to the Urban Institute , manufactured homes appreciate in value as consistently as traditional site-built homes, showing similar average annual growth rates. Additionally, lower construction costs and purchase prices make manufactured homes an attainable entry point to homeownership and its benefits.
To support homeownership, Havenpark communities regularly hold workshops for new buyers. The sessions include information and guidance about what to expect during the home purchase process.
A recent homebuyer in a Dallas-area community reflected on her positive experience with Havenpark. "From the application process, to move in day, to living in this community for about five months, everything has been extremely easy. The manager makes sure that you and your families are taken care of while also fixing any sort of problems that arise. This community has me feeling safe, the neighbors are nice, and the neighborhood is absolutely beautiful," she said.
Founded in 2016, Havenpark Communities now owns and manages more than 80 manufactured home communities across America. The company provides Americans with an opportunity at affordable homeownership through caring, properly maintained communities located in highly desirable areas.
In 2024, Havenpark plans to invest $27.6 million in its communities to improve infrastructure, add state-of-the-art community amenities, landscaping, enhanced curbside appeal, and new signage. Havenpark also plans to add more than 200 high-quality, affordable homes across its community portfolio.
According to the Harvard Joint Center for Housing Studies, the production cost of manufactured homes is about 35 percent less than similar traditional single-family homes, allowing families to realize their dream of homeownership in a more affordable way.
Havenpark is committed to adding more housing units and making significant investments across its portfolio in 2024 and providing Americans an opportunity at affordable homeownership.
About Havenpark
Havenpark is an operator and developer of manufactured home communities and makes caring communities attainable for responsible residents across America. Since 2017, Havenpark has sourced and installed over 4,000 new factory-built homes, providing quality, affordable living to over 10,000 Americans across the country. In 2023, Havenpark added 339 new affordable homes across the country and has committed to adding another 226 in 2024. Havenpark believes in respectful and professional management, well-maintained communities, and attainable homeownership. Havenpark makes long-term investments in its communities, providing enduring value for current and future residents.
MEDIA CONTACT: Jenny Werwa, werwa@invariantgr.com
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SOURCE Havenpark Communities
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