2 months ago ·Justin Becker ·Comments Off on The Costs Of Owning A Manufactured Home vs Renting One
There is no denying that buying a manufactured home is the more affordable housing option these days, especially if you are looking for top-notch communal amenities and a possible path to homeownership. That said, there is still an ongoing debate as to whether one should buy or rent a manufactured home. Yet, the truth is only you can decide for yourself which is the better option overall. Nevertheless, if you are comparing the total cost of ownership for a manufactured home versus renting a mobile residence, then you are probably wondering if the old adage is true—renting a mobile home is more affordable and cost-effective in the long run. Well, the good news is you have come to the right place. Here is a quick overview of the costs associated with owning and renting a manufactured home.
In general, living in a mobile home comes with monthly costs and expenses. For instance, regardless of whether you are renting or you have purchased a manufactured home, you always need to pay for things like utilities, trash removal, heat, air, and so on. As a result, when comparing the cost associated with owning and the cost associated with renting, there is really no difference. Typically, most people either rent a mobile home in a mobile home community/park, or they purchased one within the park/community. Consequently, the monthly expenses are the same.
If you have purchased a manufactured home and are currently leasing land or a lot in a manufactured home community, then you are likely paying a lot rent. However, lot rent, in most cases, is only a few hundred dollars a month. Moreover, when you combine the cost of lot rent with monthly mortgage payments as low as $250 a month, then you are still probably paying about the same as a mobile home renter or tenant. In contrast, renting a manufactured residence in a mobile home park means your rent is high enough to cover or include the cost of lot rent.
Maintenance & Upkeep
In terms of maintenance and upkeep, things do get a little tricky. Again, if you have purchased a manufactured residence and live within a mobile home park, then there are certain maintenance matters that you will not be expected to handle, like say, mowing the lawn. That said, any issues with your actual mobile home, you can pretty much expect to be responsible for as the homeowner.
If you are renting a manufactured residence, on the other hand, then you also have certain property maintenance that is handled by the mobile home community management team and staff. However, any necessary repairs or major appliances needing to be replaced are likely the responsibility of your landlord/the owner of the mobile home you are renting, unless you have agreed otherwise.
Mortgage vs. Rent
Where you will notice a significant difference is when you look at the costs associated with having a mortgage and those related to monthly rent payments. Today’s mobile homes are fairly affordable. Consequently, you do not need lender funding or financing if you have the money on hand.
That said, if you do need to finance your mobile residence, the good news is that you will not need as large a mortgage as you would if you were considering or trying to purchase a traditionally built home. In fact, monthly mortgage payments for manufactured residences are fairly small/if not almost nominal. As briefly mentioned, some mobile homeowners pay less than $500 a month for their mortgage. Of course, in order to have such an affordable mortgage, the homeowner likely put down a fairly large down payment. Even if this is the case in your situation, mobile home mortgages are for shorter terms and therefore are less of a financial burden or obligation. Obviously, with financing, you will have to account for various fees, appraisal costs, credit checks, homeowner insurance, taxes, and so on, but generally, you can roll any expenses associated with your mortgage into the amount of funding you are requesting,
Alternatively, when you are renting a manufactured home, you have your standard expenses and fees that come from renting housing. For example, you can expect to likely have to pay first and last months’ rent, a security deposit, an application fee, a pet deposit (if you have pets), renters insurance, and even possible parking fees. After you have paid all these upfront costs; then, you need to pay your monthly rent. Here, if you are late on your rent payments, then there are reasonable fees associated with late payment.
Cost Over Time
When looking at the two scenarios over time, it becomes very clear that you will likely be spending more money when you rent. As briefly touched upon, a fixed mortgage rate for less than 30 years will not increase or change, whereas rent tends to go up every year. In addition to possible increases in required payments, renters typically do not get homeowner tax breaks or benefits. Moreover, as time passes, the mobile homeowner is likely to get some form of home equity and is working towards actual ownership. This greatly affects the cost of owning a manufactured home overtime because when it is all said and done, you can sell your mobile home and recoup a good portion of the money you put into it.
In contrast, the person renting a manufactured home is not building or accumulating any sort of home equity. Furthermore, he or she is also not going to be able to recoup any possible monies they have invested in maintaining or improving their mobile home. Ultimately, because of these differences, if you will, in the long run, purchasing a mobile residence is the more cost-effective option.
Equity vs. Flexibility
As briefly mentioned, when you purchase a manufactured home, there is an opportunity to accumulate equity. If you bought the land that your mobile home is affixed to or sits on, then your home is actually appreciating in value as time passes. Be that as it may, one of the downsides to owning a home here is the lack of flexibility. In other words, the person that is renting a mobile home can wake up one morning and decide they essentially want to live somewhere else. In this instance, the renter or tenant may have to pay a nominal fee for breaking their lease, and then they can essentially drive off into the sunset. On the other hand, the mobile homeowner is going to have to list their property for sale, possibly hire a real estate agent to help, and do a variety of other things that may cut into their bottom line.
The Clear Winner
At the end of the day, these are just a few ways in which the cost associated with owning a manufactured home does not outweigh the overall benefit. That said, though renting may not have the same long-term financial benefits, sometimes the monthly costs or down payment is simply too much, and therefore renting appears to be the better option.
Ultimately, if you are looking for a clear winner here, it is probably still better to purchase and own a mobile home. Of course, only you can determine if the costs associated with mobile homeownership are in your budget. Nevertheless, homeownership of any kind still appears to be the better option when you compare the two.
5 months ago ·Justin Becker ·Comments Off on Everything You Need to Know Regarding Double Wide Manufactured Homes
Today’s double wide manufactured homes are truly a sight to behold. Gone are the days when there was a certain stigma attached to mobile home living. Thanks to the tiny house movement, people now see double wide manufactured homes for what they really are—a lot more bang for your buck.
Of course, you may be wondering what exactly the difference between your average single wide and a double wide mobile home is? Well, one of the significant differences is that your double wide residence is put together on site. The reason you do not have this same issue with a single wide already manufactured home is that they are simply easier to transport. A double wide, on the other hand, needs to be shipped in two halves that are later put together for you.
Now that you have a better understanding of the difference between the two, let’s talk about everything you need to know regarding a double wide manufactured home.
Clearly, a double wide home offers you more living space than a single wide. However, this size manufactured home’s square footage is still less than that of a traditional home.
Generally, double wide residences offer anywhere from 1,100 to 2,300 square feet of living space. In terms of overall width, double wide mobile homes tend to start at approximately 20 feet and go up to 36 feet. In contrast, single wide manufactured homes typically offer 750 to 1,050 square feet of living space, have a width of 14 to 18 feet, and tend to be on the long side.
There are also triple or multi-wide manufactured homes, but that’s a discussion for another time. Finally, the height of mobile/manufactured homes is regulated by local, state, and federal transportation limits ie. no manufactured home can have a height above 13 feet and 6 inches.
Double wide mobile homes are the middle child, but they are closer to a traditional house in the sense that they are more proportional and offer similar square footage. Furthermore, because of this expansive design, there is more room for custom layouts, and newer models can easily pull off the contemporary open concept design scheme.
An open concept layout or floor plan typically features high ceilings, ample natural light, and an overall airy feel. One common feature of this particular design scheme is a connected kitchen. Here, the kitchen seamlessly works with other living spaces to create a relaxed environment that is ideal for entertaining and everyday living. Open concept design schemes also include state-of-the-art bathrooms and plentiful custom storage.
Besides having real contemporary design potential, manufactured homes that offer 1,100 to 2,300 square feet of living space are reasonably priced. Sure, smaller mobile homes are the most inexpensive option here; but if you are looking for a decent amount of living space, then double wide mobile homes fit the bill.
What’s more, double wide manufactured homes are still more affordable than your traditional sized modern homes. Here, in Michigan, you can find real savings by purchasing a double wide mobile home. Plus, you cannot beat your reduction in monthly utility bills or lack of financial responsibility for regular community maintenance. Remember, newer double wide models have all the trimmings, including energy-efficient appliances and environmentally-friendly features.
If you choose to finance your future manufactured home, it is now easier than ever. Since tiny houses and mobile living have really taken off in the last decade, lenders are far more willing to offer to finance.
Many Michigan manufactured home communities, and sellers even provide in-house financing. Yet, once upon a time, there was a higher risk associated with mobile homes or with ones that needed to be transported to their new location. However, times have changed. Not only can you find a variety of financing options now, but you still typically borrow less than you would if you were financing a traditional sized house.
Plus, many homes start in the mid $30,000s and go up from there; thus, a mortgage for a $30,000 double wide with contemporary features would be a steal and definitely cheaper than renting an apartment.
As briefly mentioned, transporting a double wide home takes two trips or, preferably, two delivery trucks. Clearly, you want to coordinate delivery so that both halves of your home show up at the same time.
The average cost of transporting your home can cost you roughly $10,000 to $15,000. This typically works out to $5 to $10 per mile for long-distance deliveries. Of course, short distances are much cheaper, but keep in mind that many movers do charge a standard short move fee, which could very well range from $1,000 to $5,000.
Obviously, this is just a general look at transport pricing; thus, it helps to get quotes from local movers and compare costs. With that being said, do not forget to inquire about a transportation permit. Though the cost of these permits is often nominal, there are other fees associated (prep and setup costs, escort vehicle fees, and insurance) with moving your double wide, especially if you are crossing state lines.
Once you have your dream home halves at their intended homesite, then it’s time to get to work. Known as the setup, your moving crew will put your home together for you and ensure that it is level as well as securely assembled.
Once your manufactured home is constructed and level, the moving crew will remove the transport tires/wheels and place your home on permanent blocking. Next, your double wide will be trimmed out—this is the process of finishing the roof, interior seams, and end walls, as well as ensuring your home halves flow together perfectly.
After this final step, your double wide mobile home is ready to go, for the most part, and you should be able to start the move-in process. Note: if you are buying an existing manufactured home, then make sure your installer is licensed and that you have an installation warranty. It also does not hurt to have a third-party expert inspector come out and make sure everything is up to code.
Upgrades and Custom Features
Lastly, if you are purchasing a brand new double wide mobile home, you should inquire about any possible upgrades and custom features. You may be surprised at all the bells and whistles available. Plus, being able to put some personal touches on your new home is always a rewarding experience.
Upgrades that many people consider here include custom windows, more insulation, LED lighting, flooring alternatives, different siding, other appliances, and more. So, make sure you ask about your options. Alternatively, if you are purchasing an existing double wide mobile home, there still may be a variety of upgrades available to you once the installation is complete—but you will not know until you ask.
Ultimately, double wide mobile homes are excellent investments and offer you quality living at affordable prices. By selecting this particular size mobile home, you have the opportunity to make this constructed residence feel custom made from top to bottom.
So, if you are mulling over your manufactured/mobile home options in Michigan but are not quite sure what will work best for you and your family, then contact a local manufactured home dealer. With a better understanding of the particulars, there is absolutely no reason you cannot afford and enjoy a manufactured residence, especially here in Michigan.
One final note, while doing your research and planning, do not forget to check out the mobile/manufactured communities in your area.
6 months ago ·Justin Becker ·Comments Off on 5 Tips for Moving into your Fenton Manufactured Home this Summer
Moving into a manufactured home in Fenton, Michigan, is a dream come true. This area of Michigan has it all with amazing suburban communities, a wealth of recreational parks, a lively downtown district, and access to major metro-Detroit cities. And to even make it better, the cost of living is below the national average, both unemployment and crime rates are lower here than in other areas in Genesee County, and Fenton has excellent schools. In terms of manufactured/mobile homes, Fenton’s manufactured homes are contemporary and have a variety of community perks to boot.
If you’re moving to Fenton this Summer, it’s highly recommended that you don’t overlook the temperature on move-in day. During the Summer, Fenton tends to be slightly warm. Yet despite the heat, it’s still peak moving season and movers book up fast. Therefore, consider getting ahead of the crowd and start planning today.
If you need some warm-weather moving guidance, here are five tips to help you get a handle on your move and make summertime in your new Fenton manufactured home as pleasant as possible.
#1. Consider the Logistics Before Moving
Typically, for a move to go off without a hitch, you need to be prepared. Often, when moving, you learn a lot about what you actually use and don’t use. So, before you start packing up your entire apartment or house, consider getting rid of some of the clutter first. Not only will downsizing make for a smoother move, but it will also make unpacking and settling into your new manufactured home a breeze.
Besides decluttering, it’s highly recommended that you measure your new space. For instance, if you have a sectional now, but no room for a sectional in your new home, it’s better to figure that out now rather than later.
Other formal logistics includes speaking with your community management team so you can get a rundown of the park rules, utilities, move-in procedures, and more. Familiarizing yourself with your future community will make moving easier and answer any move-in procedure questions you may have, like where to park the moving truck so it’s not blocking anyone in.
#2. Learn the Community/Park
Along those same lines, it never hurts to learn more about your future mobile home community. If there are strict rules about what can be displayed or left in your front yard, you probably want to know.
Furthermore, during the actual move, consider exchanging pleasantries with your neighbors. Getting to know your neighbors is the quickest way to get a lay of the land and help you navigate the area. Moreover, if you have children, your neighbors can advise you on the schools in the area, playgrounds/teen hangouts, and even give you valuable recommendations for sitters, plumbers, and so on.
Speaking of plumbing, don’t forget to familiarize yourself with your home’s pipes, circuit breaker, water heater, etc. Knowing where everything is located upfront takes away a lot of guesswork and gives you a chance to see if any repairs are needed before you get settled in.
#3. Pack Right the First Time
By now, you should have a better understanding of what you need to pack and, in general, of your community. So, it’s only natural that the packing comes next.
To make packing as stress-free as possible, there are a few tricks of the trade you should consider. For starters, purchase or try to use boxes that are all the same size. Doing so will make loading the truck a lot less cumbersome for both you and the movers.
You should also clearly label, and even color-code, the boxes so you won’t spend hours searching for your silverware. Note that fragile items like artwork or electronics that could be damaged in the Summer heat should be packed with extra care. You may even want to consider loading those items in your car to prevent any damage during transport and to allow for faster unloading.
When loading the truck, if you opted not to go with movers, try loading the heavy furniture first. Be as creative as possible when loading up the moving van. The more room you can create, the fewer trips you will have to make.
#4. Seriously Consider Movers
Of course, if you prefer to hire movers, then most of the truck-loading guesswork will fall to them.
Since you are moving during the Summer months, you should seriously consider movers. Having professional assistance will make your move more streamlined and less labor-intensive for you.
If this sounds good to you, then make sure you do your research and book in advance. As briefly mentioned, Summer is peak moving season, so the early bird definitely catches the worm here. Book as early as possible and always compare pricing.
Once you’ve selected your moving company, it’s also a good idea to discuss the particulars with your movers. If they are going to need extra manpower or will need to get a little creative making things fit, then tell them upfront.
Finally, when booking movers, try to secure an early morning or late afternoon time slot, if possible. Remember, moving is hard work in general, and it’s even harder in the sweltering heat, so avoid midday moves at all costs.
#5. Prep For Move-In Day
Lastly, when your special day arrives, don’t forget, there is still some prep work to be done on your end. This means getting a good night’s sleep, wearing the right clothes, and packing the essentials in a separate box or bag.
You should also change your mailing address a few days prior to moving, if not sooner. Waiting until after you have moved in, may mean you do not get your mail for a few weeks.
During the actual move itself, it’s crucial that you and your movers stay hydrated. Big moves in Summer always come with a possibility of heatstroke, heat exhaustion, and dehydration. Therefore, making sure everyone stays properly hydrated and is wearing the appropriate clothing is essential. Sunscreen and a pre-air-conditioned home will also help to stave off the effects of the sun or intense heat.
Furthermore, you should take additional steps to ensure your children and pets are being properly looked after. Leaving your kids to play outside while you are moving or leaving pets in carriers or cages could create a host of problems. Thus, we suggest hiring a sitter for both children and pets. You can leave them with family if you prefer as well. This way, you do not have to keep a constant eye on anyone or your overly curious dog. Nevertheless, if you decide to bring the whole lot instead, make sure you have extra water on hand and healthy snacks for everyone.
Once the last box is off the truck, take a break. No one expects you to be able to do it all in one night. In fact, give yourself a full day or two to get unpacked.
Unpacking should not be too difficult if everything is labeled correctly and color-coded. Moreover, you really only need to unpack the essentials as soon as possible. Typically, bedding and kitchenware are the two main essentials that people tend to unpack first. Plus, thanks to your overnight bag(s) that you packed in the beginning, you should have clothes, toiletries, food, and more readily available.
Ultimately, relocating to a new manufactured home in Fenton should be exciting for the whole family. Don’t let the heat or a little extra prep work rain on your parade. Instead, follow these tips and make your summertime move seamless.
7 months ago ·Justin Becker ·Comments Off on 5 Reasons Why It Is Beneficial To Be Living in A Manufactured Home During Uncertain Economic Times
When it comes to housing options, there are many choices available. However, when it comes to the economy, it can be scary to purchase a house. If something were to happen at your job, you might not be able to make a mortgage payment and the next thing you know, you are stuck without a place to live. Of course, this can happen when you are renting a place to live as well. You have to be able to keep up on your rental payments in order to keep a roof over your head.
10 months ago ·Justin Becker ·Comments Off on Tips For Buying A Manufactured Home in Fenton MI
According to statistics, more and more people are now living in a manufactured home and for a good reason. With less upkeep and up-front costs required compared with traditional homes, manufactured homes offers the luxury of homeownership without much hassle and expense.
If you are thinking of buying a manufactured home in Fenton MI real soon, these simple tips can surely help you out in the process.