Manufactured homes have had a bad rap over the last few
decades, but thanks to significant improvements in quality and forward-thinking
companies like Wisdom Homes of America, the tide has turned.
Wisdom Homes of America is a Tyler, Texas-based owner and operator
of manufactured home retail centers. Forget your prior stigma of
mobile/manufactured homes – WOFA’s manufactured homes are systematically
engineered and designed with cutting-edge, computerized technology to deliver
exceptional high-quality and structured homes that meet strict HUD standards.
Aside from durability, today’s manufactured homes are
aesthetically appealing. While homebuyers can choose from many of WOFA’s
pre-existing floor plans, the homes are highly customizable to fit the
homebuyer’s individual lifestyle and budget. Ranging from 1,800-2,500 square
feet, they offer more than 1,00 models and variations with numerous additional
features like wrap-around porches, vaulted ceilings, wood floors, rock
fireplaces and state-of-the-art appliances.
Adding another measure of hardy construction, the homes are
permanently affixed to land, a characteristic that leads to WOFA’s entrance
into land/home packages. The company sees an adjacent market opportunity of
approximately $10 billion annually in real estate acquisition, site
preparations, ancillary services, and lending and lease communities for the
manufactured housing industry that requires financing capital.
Much of this market opportunity stems from broader increases
in manufactured home sales. In 2014, the sales of new manufactured homes in the
U.S. exceeded $4.1 billion, up from $3.8 billion in 2013, and is expected to
reach $4.5 billion in 2015. The industry growth is driven by demand for
quality, affordable housing.
Despite all their structural, foundational and aesthetic
perks, manufactured homes are often less expensive than conventional housing.
According to WOFA, purchasers of manufactured homes realize cost savings of up
to 60% less per square foot compared to conventional site-built homes.
More proof of the re-invention of manufactured homes can be
found in WOFA’s books. The company’s total revenue for the second quarter
topped $1.2 million, and management projects revenues of at least $4 million by
the end of 2015 – WOFA’s first full year owning and operating its home retail
centers.
WOFA’s revenue-generating growth model calls for expansion
in the retail sector through the addition of related services and the opening
of new retail centers in Texas, which sells 3x more manufactured homes than any
other state.
Banking on rising recognition of today’s modern manufactured
homes, its strong revenue model and strategic location in the hot Texas housing
market, WOFA has set a five-year goal of opening 30 additional retail center
locations.
For more information visit www.wisdomhomesofamerica.com
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