Clayton Homes iHouse Saves Money and Energy

Be green, save green

Clayton Homes officially unveiled its new iHouse over the weekend, and some of its features, not to mention its selling price, could save buyers a bundle.

Clayton Homes says the iHouse is 30 percent more energy efficient than a traditional home. With the low price of the homes and a direct link to financing, iHouse owners probably won’t end up needing mortgage loan modification.

Selling price

The manufactured, modular Clayton iHome starts at just $74,900 for a 723-square-foot, called the iHouse I. For $93,300 you can get a 1,023-square-foot model, the iHouse II. Fast Company says:

Both homes can be configured in at least seven different ways and come with a number of standard features, including galvanized metal roofing, corrugated steel siding, a butterfly roof with rainwater collection, and non-VOC paints.

Going even greener

To save even more on energy costs, and avoid needing short-term loans to pay your electric bill, homeowners can add solar panels, tankless water heaters, and low-flow faucets to their iHouse. Of course, that costs extra.

However, the additions will save money over time. Fast Company calls the iHouse “perhaps the most affordable option for a low-carbon lifestyle, with monthly energy costs of under $70.”

Target demographics

The Clayton Homes iHouse is great for first-time home  buyers because of its affordable price. Furthermore, perhaps the trendy popularity of the energy-efficient aspects will outweigh the stigma that many people associate with modular homes.

Modular homes often get a bad rap and have a reputation of being cheap and low-class. However, energy efficiency is held in very high esteem nowadays.

More affluent buyers have shown interest in the Clayton Homes iHouse because they want to purchase one to use as a vacation home. An iHome definitely a whole lot less expensive than a beach house.

About Clayton Homes

Clayton Homes is the largest modular home manufacturer in the United States. The company has been producing homes since 1934. The company has sold 1.5 million homes in its history.

Clatyon Homes expects to sell 2,000 iHomes per year. Clayton also bought Vanderbilt Mortgage and Finance, Inc. in 1974, so the company could directly help homeowners get financing.

More help for home buyers

In 1995, Clayton bought up 25 percent of the stock in 21st Mortgage Corporation, “furthering its commitment to financing soon-to-be homeowners,” according to the Clayton Homes web site.

A few years later, in 2004, Clayton took over the remaining ownership of 21st Mortgage. Also that year, Clayton Homes acquired Oakwood Homes.

Building homes and taking names

Clayton Homes now also owns Freedom Homes, Karsten Manufacturing and Southern Energy Homes.

Clayton Homes says the iHouse is “built for a new era of sustainable living.”