2 years ago · Justin Becker · Comments Off on Is it Worth Buying a Mobile Home?

Is it Worth Buying a Mobile Home?

Purchasing a mobile home can be a cost-effective housing option, especially if you are on a tight budget or plan to live in a particular location for only a short period of time. However, there are some important factors to consider before making the decision to buy a mobile home. That is why the question, “is it worth buying a mobile home?” makes a lot of sense.

The ongoing cost of constructing a traditional stick-built house might make it inaccessible for many people (as it is built on a permanent foundation). One alternative that may be more accessible is a manufactured home. Sometimes referred to as modular homes or mobile homes, today’s manufactured homes may be subject to misconceptions.

So, what if buying a mobile home is really worth it? It is important to investigate further so you can make a smart decision.

Difference Between Mobile Homes and Stick-Built Homes

A mobile home is a type of housing that is built in a factory. It is then transported to its final destination, where it’s placed on a permanent foundation or piers. Mobile homes are also known as manufactured homes or modular homes. Learn exactly how mobile homes are built here.

More Details

If you own both a manufactured home and the land it is permanently installed on, it will be considered real property. That is why you will also have to pay property taxes for it.

A traditional home, on the other hand, is built on-site, using materials such as brick, wood, and concrete. Traditional homes are also known as stick-built homes or site-built homes.

Is it Worth Buying a Mobile Home?

Though mobile and manufactured homes are considered personal property if built on leased land, you will still have to follow the park rules. So, let’s weigh the pros and cons of mobile home ownership before you plan to buy a mobile home.

The Pros of Buying a Mobile Home

The following reasons will guide you in deciding if you should opt for a mobile home.

No Compromise on Quality

Mobile homes constructed after 1976 have been held to standards or local building codes set by the U.S. Department of Housing and Urban Development, i.e. the HUD Code for manufactured homes. This ensures that mobile homes have a considerable life expectancy.

Mobile Homes are Built to Last

You may be able to buy a mobile home that is both affordable and built to last. However, it is important to know that a mobile home still tends to have shorter lifespans as compared to a traditional stick-built house and may require more frequent repairs.

High on Affordability

Manufactured housing can be a more affordable option than having a custom stick–built home. The lower price can make homeownership more attainable and allow you to get more space for your money. That is because the average price of mobile homes is often less per square foot than that of stick-built homes. Find out exactly how much manufactured homes cost here.

It is a Saving Opportunity

Even if you plan to buy a cheaper mobile home, you can save a significant amount of money by choosing a manufactured home over a traditional home. Once you know how much a mobile home costs, you can buy one easily.

Better than Renting a Stick-Built House

You would not have to pay rent if you plan to buy a mobile home. If you are buying a manufactured home on leased land, you will be able to own personal property (in other words, real property) for less than the cost of renting an apartment. This way, you will also not be losing money on various expenses.

A Great Option for Those Who Prefer Customizable Homes

Modern mobile homes can be customizable to a certain extent. Many manufacturers offer a range of floorplan options that allow you to choose the layout and features that best meet your needs. You can choose the number of bedrooms and bathrooms, the layout of the kitchen, and the type of flooring and appliances.

You Can Also Get Detailed Customization

Some manufacturers also offer upgrades such as extra insulation, energy-efficient windows, and high-end finishes. With that said, before you select a design for your home, you should consult with your local government’s zoning office to make sure that the design meets any criteria that might apply to the type of home that can be built on the lot you have chosen.

Mobile Home on Private Land will Appreciate in Value

Just like a stick-built home, a mobile home that is placed on land may appreciate in value over time. This means that owning land outright can also increase the chances of equity gain.

In a housing market where prices are rising, the value of mobile homes with their own land may also increase.

Mobile Homes are Eco-Friendly

An increasing number of mobile homes are being constructed with environmentally-friendly materials. These are also designed to have a low carbon footprint.

Many are powered by solar energy and are Energy Star certified. This means that they have energy-efficient appliances, lighting, and plumbing fixtures. As a result, mobile homes can be a more eco-friendly option compared to traditional homes.

Mobile Home Living Encourages a Sense of Community

Many manufactured home communities offer opportunities for socialization through clubs and group activities. So, living in a manufactured home park can provide a sense of community and the chance to make new friends.

While mobile home owners have their private driveways and small backyards, they are also close to their neighbors. This can encourage social interaction.

You Can Earn Some Rental Income

You can rent out your mobile home once you have possession. This can be a great way to earn rental income, but there are some additional considerations to keep in mind. Mobile homes are often located in mobile home parks. So, potential tenants might need to be approved by the park management before they can move-in.

There is a lot to Learn About Mobile Home Living

Though you need to follow the park rules, you can also learn more about living in a manufactured home community if you decide to move-in instead of renting out. It might be that you will start enjoying your life within the mobile home community!

The Cons of Buying a Mobile Home

Though we believe that it is worth buying a mobile home, there are some cons, too. Let’s have a look at each one of them.

Mobile Homes Depreciate

You might not be able to sell your modular home for as much as you paid for it because it depreciates over time. This may affect its resale value, but this shouldn’t be a concern for first-time homebuyers who prefer living in houses with low home prices.

Financial Limitations

From a financial standpoint, financing options for mobile homes are limited. Besides a down payment, you would have to face difficulty in getting a mortgage loan for a mobile home.

This means that you wouldn’t be entitled to personal property loans if you get the mobile home constructed in a mobile home park.

You Will Be Paying the Lot Rent

Do not forget the lot rent if you don’t own the leased land. If you choose to live in a mobile home park, you will need to pay the lot rent for the right to place your mobile home on the park’s land.

Not as Structurally Sound as Traditional Stick-Built Homes

Mobile homes may not be as safe as traditional stick-built homes during natural disasters, such as hurricanes, tornadoes, and earthquakes. This is because mobile homes may be more prone to damage from high winds and heavy rain. However, you can avoid this situation by acting proactively and building a strong and durable structure of your mobile home. Learn about wind zones for manufactured homes here.

Who are Mobile Homes for?

Even after looking at the cons, we suggest that mobile homes can be suitable for a variety of people, including:

• People who are looking to buy their first home (within limited budget)
• Retirees
• People who want a second or vacation home
• People who want a home that they can take with them if they move – learn the cost to move a mobile home here

Additional Categories of Mobile Homeowners

• People who want a low-maintenance home
• People who prefer a sense of community and socialization
• People who want a home that is energy-efficient and built with environmentally-friendly materials

If you belong to one of the above-mentioned categories of potential mobile homeowners, you should buy a mobile home.

The Takeaway

Overall, whether or not it is worth it to buy a mobile home will depend on your individual circumstances and priorities. However, if you are looking for a cost–effective housing option that offers flexibility in terms of location, a mobile home is definitely a great choice.

Other benefits that make buying a mobile home a worthwhile decision include lower monthly costs, fewer mobile home maintenance costs, and less financial risk.

After all, who doesn’t want all these perks? Plus, buying a mobile home also means that you would not have to pay any monthly rent.

When you have saved up enough money to buy a traditional home or apartment, you can move out and rent out your mobile home for additional income.

Once you have made the decision to buy a mobile home, the next step is to know about the best time of the year to buy a mobile home!

Read more

2 years ago · Justin Becker · Comments Off on The Best Manufactured Homes for Sale in a Park

The Best Manufactured Homes for Sale in a Park

With the housing and real estate market the way it is today, it’s time to look at manufactured homes as a form of investment.

Of course, mobile homes and manufactured homes can also become your dream home!

With Tyrone Woods Manufactured Home Community, we are here to help you achieve just that. With the most amazing mobile homes for sale, Tyrone Woods is dedicated to helping anyone invest properly and settle down in Fenton, MI.

Manufactured Homes for Sale in a Park

Are you on the look for mobile homes for sale in Fenton, MI? If yes, you are on the right track. At Tyrone Woods Manufactured Home Community, we give you the best purchase price, an awesome range of floor plan choices, and much more. However, there is a lot to explore before making the right purchase.

How to Choose Mobile Homes for Sale with Tyrone Woods Manufactured Home Community

When you book a tour with Tyrone Woods Manufactured Home Community, you get to see everything before making a commitment.

The prices are great in themselves – and you don’t have to take our word for it! Simply check out how much are manufactured homes in Fenton, MI and other areas. This information will give you some idea of the excellent price ranges we offer.

The Details

With our open house listings, we make sure to give individual mobile home tours with all the property details. These include:

• The price of each manufactured home
• Sales history
• Property tax information
• Information about nearby schools
• Property photos

And a lot more.

We pride ourselves on being among the top mobile home parks in Michigan. With this in mind, we want to be transparent about our mobile homes for sale.

Why Should You Live in Fenton, MI?

There are many reasons why people are flocking to live in Fenton, MI. As we speak, Americans are choosing Fenton, MI as their dream home location. Just a few perks of living in this area include:

Proximity to Recreational Areas

In Fenton, MI, you will never be at a loss for entertainment and exercise. With fun parks, campgrounds, hiking trails, and several other options, kids and adults alike can have the time of their lives.

In need of some well-deserved pampering? You can check out the top hair salons in Fenton, MI!

Close to Nature and Ample Dining Options

Fenton, MI also has several natural spots where anyone can enjoy themselves in a healthy way. If you are looking to reconnect and relax or just have fun in the outdoors, there are several spots near Tyrone Woods Manufactured Home Community.

When you are settled in your new manufactured home, plan out your day visiting the top lakes in Fenton, MI.

Having a party or just in the mood for something casual? You can always check out the top pizza places in Fenton, MI, too.

Excellent Educational Opportunities

Do you have school going kids in the family? Perhaps, you want to live near Cider Mill Crossings for the sake of their education. While Cider Mill Crossings is fair enough, you have some amazing educational opportunities right here in our Tyrone Woods Manufactured Home Community!

When it comes to education, students get some of the best schools in Fenton, MI.

The Best Offers are Waiting for You

Tyrone Woods Manufactured Home Community aims to help you find your dream home. We know that this includes education for your kids, and, perhaps, even yourself! Check out Cider Mill Crossings and other mobile home parks if you have to; but you will find that the best offers are right here at Tyrone Woods.

Getting the Best Manufactured Homes in a Park

At Tyrone Woods Manufactured Home Community, you can purchase Michigan mobile homes for sale in a park setting. There are several perks to this step. so let’s check them out right now:

A Lot of Options

There are several mobile home parks available in Fenton, MI. When you conduct an online search for mobile homes for sale in Fenton, MI, the names of Cider Mill Crossings and Lake Fenton Estates might pop up. We are aware of the options, but Tyrone Woods Manufactured Home Community offers a lot more in Fenton, MI.

Diversifying Your Investments in Fenton, MI

Of course, you can always diversify your investments. Those who have a manufactured home in Cider Mill Crossings can move on to Tyrone Woods Manufactured Home Community for an added safety net. It is not like purchasing a manufactured home and saving it on your own property. Not to mention, we will move your mobile home for free.

Reducing the Financial Burden

If you want to live in Fenton, MI but also want to save money, options like Tyrone Woods Manufactured Home Community are your best bet. You can also compare Tyrone Woods Manufactured Home Community to Cider Mills Crossing and get an idea of the best investment possible.

This way, you can have your own home, but without the financial burden of buying your own property in Fenton, MI.

Saving Money

When you live in a mobile home park in Fenton, MI, you can save some money. Here are just a few ways in which we can help you save that hard-earned income:

• Tyrone Woods Manufactured Home Community takes responsibility for all communal maintenance and repairs
• Amenities that you automatically get in the park – (on your own land, you will have to pay a high price for such facilities)
• In return for lot rent, you will be earning equity – this means that you have your own manufactured home, instead of nothing in hand like when you rent an apartment

Additional Benefits

While it is possible to have a home in Fenton, MI, what exactly do you get from it? At Tyrone Woods Manufactured Home Community, you get some great neighbors, equity on your investment, and your own roof to live under! All of this is at an affordable price that you will not get anywhere else in Fenton, MI.

Double-Wide Mobile Homes

All of the Michigan manufactured homes we offer at Tyrone Woods are double-wide manufactured homes. These are usually made when two single-wide homes are joined. As a result, you get a larger living space and more potential for added amenities.

No matter what kind of manufactured home you choose, you can be assured of a decent lifestyle here in Fenton, MI. There are pros and cons to every choice, though, so make sure that you look these up before deciding on a certain floor plan. Tyrone Woods in Fenton, MI has no shortage of options. So, take your time and choose whatever suits you best!

Ready to Make a Home in Fenton, MI?

When all is said and done, there is nothing like the amazing lifestyle you get in Fenton, MI. There is great schooling, a lot of parks, natural surroundings, and several recreational opportunities. When you live in Tyrone Woods Manufactured Home Community and get one of our mobile homes for sale, you will be all set.

Ready to take a tour? Call us up today and book an appointment!

Read more

2 years ago · Justin Becker · 1 comment

How Much are New Manufactured Homes?

Having their own home is the ultimate dream for many Americans, but it is not always accessible for the average person. At least, that is true if you insist on sticking to the traditional form of real estate. If you have started thinking outside the box, a mobile or manufactured home might be on your list of major investments in the near future!

What is a Manufactured Home?

First of all, it is important to establish the knowledge of just what manufactured housing is. These homes are not like a traditional house or apartment. So, any potential buyer should know absolutely what they are purchasing before signing anything.

Manufactured homes or mobile homes are pre–made structures that come from a factory and set on the desired site. Some might have a mobile home park or manufactured home community as their destination, while others may sit on private property.

Manufactured homes are also considered to be personal property, which means that they usually won’t be eligible for a traditional mortgage. While some manufactured homes might have affordable prices, certain models will still be difficult to buy outright. That is especially true when you go for a double-wide – which is more than twice the size of a single-wide.

A modular home is similar to a mobile home, but it is a more permanent structure. It is also subject to the same building codes as a site-built home. On the other hand, new manufactured homes are subject to the federal code under the Department of Housing and Urban Development or the HUD Code for manufactured homes.

How Much are New Manufactured Homes?

At the end of the day, there is no denying that mobile homes and manufactured homes are more cost–effective than site–built homes (see: mobile home vs. stick-built). The average price range is more in reach, but there are still several factors to consider before buying a new manufactured home.

While it is more conventional to rent space if you can’t afford a traditional home, it might be a wiser financial decision to go for manufactured housing. Before committing to anything though, let’s have a look at the cost breakdown of buying a new manufactured home:

The Average Cost of a Mobile Home Compared to a Site-Built Home

According to the U.S. Census Bureau, the average sales price of new manufactured homes was around $111,900 as of November 2021. The median sale price of a new site-built home, according to the Federal Reserve Bank of St. Louis was around $400,600 in February 2022.

However, the actual manufactured home or mobile home cost goes beyond just the median sale price. When you are thinking about how much is a manufactured home, you also have to consider new and used options as well as the sizes available.

For the lowest prices on a decent manufactured home or mobile home, you may have to consider the best pre-owned manufactured homes for sale in Michigan. However, keep in mind that any such structure manufactured before 1976 is called a mobile home, not a manufactured home, and will probably not be up to HUD standards. After that, all homes like this are called manufactured homes. However, the terms still remain interchangeable.

A Single-Wide or Single-Section Manufactured Home

The manufactured housing industry has a wide range of options for every homeowner’s needs. There are different floor plans that can accommodate various kinds of occupants within the same square footage.

A single-wide manufactured home is obviously less expensive than a double-wide. It is also small enough for a highway lane, so you don’t have to pay for as much on-site work when bringing it on a site.

In November 2021, a new single-wide manufactured home was around $76,400. Their size range is around 784 to 1,440 square feet.

A Double-Wide or Double-Section Manufactured Home

Double-wide manufactured homes are usually double the square footage of standard single-wide homes in the same area (or from the same manufacturer). It is also usually double the price, but you might be able to get a good deal with some manufacturers or double-wide mobile home dealers.

When a double-wide arrives on the site, it is usually in two parts or sections. These are assembled at the site itself, since the resulting home is usually too large to transport safely.

The large size of a double-wide home also means that you can customize it on many levels. This may include both the interior floor plan as well as the exterior appearance. According to the U.S. Census Bureau, new double-section manufactured homes cost around $139,000 as of November 2021.

There are even large mobile homes called triple-wides. They naturally have a lot more square feet than a double-wide, but aren’t as common.

Customizing a Manufactured Home

Before we settle on the cost of a manufactured home, there is also the matter of counting customization costs. Some manufactured homes can also have add-ons like attached garages or patios. So, you will have to factor in the cost of these as well.

The customization costs for a custom manufactured home can range from minimal to pricey, depending on various factors. These include:

• The scale of the project you have in mind
• The quality of materials you use
• The quantity of materials you plan to use
• The cost and quantity of labor required
• The hours of work you lose if it’s a DIY project
• Your location
• The kind of customization; cosmetic customization usually costs less than adding a square foot or so to the property

What Kind of Customizations Can We Add to Our Manufactured Home?

A carport, garage, or additional room will be a major customization for manufactured homes. Not every manufactured home owner will consider these. However, many such owners will consider the following features and customizations at some point:

• Adding or upgrading cabinets in the kitchen area
• Plumbing features 
• Porches
• Decks
• Partitions in the rooms to make smaller areas
• Knocking down a wall to make a larger room
• A fireplace
• A patio with doors
• A surround sound system

Some of these customizations and add-ons can be great for your manufactured home and even increase its value. However, keep in mind that any shoddy projects can cause the value of a manufactured home to go down. If you are not experienced in these projects yourself, calling in a professional is the best idea.

Also, do not greenlight any project until you have read up on the life expectancy of a manufactured home.

The Cost of a Manufactured Home’s Site

Since a manufactured home is built in a factory, you need to evaluate the land in detail. If you already own the land and are planning to get a manufactured home on top of it, you have to consider several additional costs. These are:

• The cost of the land
• The property taxes it incurs
• Any costs incurred in getting the land ready to hold the manufactured home – clearing away grass, leveling, etc.
• Grade work for designing a proper drainage system

The cost of the work will overall depend on what kind of land it is. The number of trees it has, the soil type, and other factors will determine the final cost. These costs are non-negotiable if you want your manufactured home to be safe and stable.

Buying in a Community

Many manufactured home owners may choose to rent space within a manufactured home community or mobile home park. There are several of these options scattered all over the U.S., but they vary according to size, cost, conditions, and general atmosphere.

It is possible to purchase a manufactured home in a mobile home park or a manufactured home community. However, the land under the home will still belong to the landlord or company that owns the mobile home park.

There is still a bit of stigma attached to living in structures that are not traditional houses. This mindset is slowly changing, though, as several manufactured home communities offer a safe and peaceful neighborhood, tight security, and amenities like clubhouses, pools, and tennis courts.

What to Know Before Purchasing a Manufactured Home in a Community

Before you decide to purchase any manufactured homes for sale within a community or park, make sure to check the lease thoroughly. You may want to buy an existing manufactured home that already sits on their property. If you already have a manufactured home of your own, you should be allowed to bring it in.

Some communities will include perks like lawn care and trash pickup in their services. Others may have certain rules in place, which control what you can and can’t do while living there. To avoid any unpleasant situations, you should read all the documents, negotiate, and decide accordingly.

The Cost of Moving a Manufactured Home

If you are planning to move your manufactured home somewhere else, or just move it from the factory to a site, these costs will also factor into your financial decisions.

While manufactured homes may be called mobile homes, they are not caravans or RVs. Some manufactured home moves are transport-only, while others require a full-service move. Let’s have a quick look at what this means:

Transport Only

This sort of move means that a towing vehicle takes the manufactured home to the new desired location. This may cost anywhere from $700 to $3,500.

Full-Service

This move means that manufactured home movers disconnect all the utilities and structures. Once the manufactured home gets to the new destination, you connect new utilities and carry on.

The full-service move is the more expensive of the two options. It is also the more beneficial one, since you can move the manufactured home safely and get new utilities when moving back in. This may cost anywhere from $3,000 to $14,000.

A full-service move is probably what you need the most. Ask questions and make some calculations; you might be able to save some of the cost by doing some of the work yourself. For this, try figuring out what a layman can do and call in a professional for the rest.

What to Consider Before Buying a Mobile Home or Manufactured Home

Before buying either a mobile home or manufactured home, a buyer should consider the following factors:

It is a Different Process

The purchase process for buying a mobile home is a bit different than for buying a site-built home. If you are doing this for the first time, make sure to read up on everything you need to know about buying a manufactured home.

The Type of Ownership

Even the way in which you own a mobile home is unconventional. The title deeds you get here are more like that of a car than a house. Unlike site-built homes, you don’t get a property deed.

Even if the square foot measurements are the same as small site-built homes, the manufactured home will not count as traditional housing. On the bright side, this will save you a bit on property taxes (but there are other taxes to consider).

Financing Issues

Due to manufactured homes being under the category of personal property, it won’t be eligible for most traditional mortgage or value-added loans.

Most other lenders may not finance manufactured homes, especially if they are moved or moveable. In order to get a standard 30-year VA loan, the homes have to be fixed to a permanent foundation and under the real property classification. There are also some other requirements, but fulfilling all of these would mean that they are not classified as manufactured homes anymore.

The best bet is to have enough cash on hand so you can easily finalize your purchase.

Expect Depreciation

Unlike site-built homes, manufactured homes are also liable to depreciate in value as time goes by. Real estate usually increases in value with time.

However, you might be able to take advantage of a sweet spot when it comes to purchasing mobile homes or manufactured homes. Find out the best time to buy a manufactured home, and then purchase one for between $25,000 and $50,000.

If you maintain the manufactured home and keep it up to date, the value is not likely to depreciate much within the range. That is a plus point.

Inspect Before Buying

You do not have to pay for a thorough professional inspection for all the mobile homes under consideration. There is a simplified inspection that should reveal anything problematic. It consists of just four points:

• The roof
• The electric system
• The plumbing system and network
• The heating and air conditioning system

Any issues with the systems listed above will be the most problematic and the most expensive ones to repair. As long as these seem to be in working order, you may go ahead with the manufactured home purchase. Even new manufactured homes might have some issues in these systems, so a quick inspection like this can reveal whether buying it is a good idea or not.

The Maintenance is Similar, but Cheaper

The necessary mobile home maintenance for most manufactured homes is usually the same as for site-built homes. This means that you won’t have to call in a specialized tradesperson for any maintenance and repairs. If you are handy yourself, the mobile home DIY upgrading projects will be around the same as well.

Since the manufactured home will have fewer square feet than a regular home, the footprint will be smaller, and, therefore, less expensive to maintain.

The Takeaway

It is evident that ample living space and energy-efficiency of a double-wide mobile home will give much more value than a stick-built home. The exact cost of a new manufactured home will vary widely depending on the local requirements, square feet measurements, and policies of the mobile home park.

The average sales price of a new manufactured home might run up to tens of thousands of dollars. While you may have to look outside conventional loans for making this purchase possible, it is still a viable investment in many ways. When you are ready to sell and cash in, check out our guide to selling a mobile home in Michigan.

Read more

2 years ago · Justin Becker · 2 comments

The Best Pre-Owned Manufactured Homes for Sale in Michigan

With the uptick in prices of traditional housing these days, many more people are now considering manufactured homes as their next major investment. At Tyrone Woods Manufactured Home Community, we are proud to have some of the best pre-owned manufactured homes for sale at the most reasonable prices in the state.

Pre-Owned Manufactured Homes for Sale

Our Michigan manufactured homes are modern, updated, and suitable for all kinds of lifestyles. Whether you are a single individual, a couple, a retiree, or a family, our manufactured homes have the most relevant floor plans available! Explore our catalog now for luxury manufactured homes, pre-owned homes, and customized homes with all the required amenities on hand.

Why Choose Tyrone Woods Manufactured Home Community?

At Tyrone Woods, we make sure that all our manufactured homes for sale in Fenton, MI fulfill the strict standard for mobile homes. When you choose a community, you are choosing the best floor plans, home designs, builders, and top quality materials. We also ensure that our manufactured homes are as comfortable, private, and hassle-free as possible.

Buying Pre-Owned Manufactured Homes in Michigan

A lot of people are moving to the state of Michigan as we speak. With increasing job opportunities, beautiful natural surroundings, and an amazing education system, it is no surprise that there are so many folks wanting to settle down here.

Not everyone can afford to buy a house or commit to spending a large portion of their money on rent each month. This is where the manufactured housing industry comes in. With reasonable prices and upgraded models that provide an experience similar to that of traditional housing, manufactured homes are an increasingly popular choice for Michigan residents.

Educated and Aware Homebuyers

Today, we can see that homebuyers are progressing and moving forward in their thinking. They are not always bent on the idea of having things the way they have always been. Even if you have grown up in a traditional house all your life, a manufactured home can work just as well (see: mobile home vs. stick-built).

A More Affordable Choice

At Tyrone Woods Manufactured Home Community, you can find high-quality manufactured homes that won’t completely drain your bank account. If you go for a regular traditional home, chances are that you would be making the mortgage payments for a long time to come.

On the other hand, many manufactured home owners might manage to buy their homes in one go or just a few installments. If the structures were pre-owned, that brings their estimated price down even further. Before committing to anything, you can also look up everything you need to know about buying a manufactured home.

Buying Pre-Owned Manufactured Homes in Tyrone Woods Manufactured Home Community

If you are looking for a forever home or somewhere to settle down for the next chapter of your life, Tyrone Woods could be the answer!

In Tyrone Woods Manufactured Home Community, you will find a community-driven business that is committed to providing affordable, quality, and modern housing in Fenton, Michigan. Our fairly-priced double-wide mobile homes are now up for sale, with various floor plans up to 2,200 square feet.

High Rankings

Tyrone Woods Manufactured Home Community is located in Livingston County, and is rated among the best mobile home communities here. In fact, we are also in the topmost rankings for manufactured home communities in Michigan. Our community is suitable for people of all ages. We also welcome pets in our friendly community – here is our mobile home community pet policy!

The Best Location

One of the reasons why Tyrone Woods is such an awesome community is its location. We are just half an hour away from places such as Ann Arbor and Flint, with Lansing and Detroit being an hour away. Downtown Fenton is a few minutes’ away, too, so our residents are able to access many exciting events and gatherings!

There are also several shopping centers, restaurants, and other entertainment venues within our Fenton community. It should not be an issue to access the essentials for a comfortable life. For more shopping opportunities and exploration, Ann Arbor and around the Cider Mill Crossings community are your best options.

Different Options and Ranges

At Tyrone Woods Manufactured Home Community, we want to provide manufactured homes within a wide range of features and prices. Our aim is to get every resident just the right home features they require within a reasonable budget. This way, we can help you get the lifestyle you want.

Wondering what exactly to expect? Read up on what you need to know about living in a manufactured home park.

Why Invest in a Michigan Mobile Manufactured Home?

When you invest in a manufactured home within our Tyrone Woods Manufactured Home Community, you are taking a wise step. This ensures an open living space with extra amenities and a large lot size to enjoy. Here are just a few more reasons why you should come over and check out our housing options for your next home:

Affordability

Our price range starts at around $30,000 and goes all the way up to $50,000. The prices may also vary according to season. So, do follow up on what is the best time to buy a manufactured home.

These prices are definitely much lower than that of a regular traditional house in Michigan. Even if you rent an apartment, the monthly payments add up. Instead of these two options, why not make the most of your money and invest in a home you can own outright? Check out our pre-owned double-wide homes today and experience the bargains for yourself!

A Premium Space

Even at our lowest prices, you get a premium space in our Tyrone Woods Manufactured Home Community.  There are at least 3 bedrooms and 2 bathrooms in each double-wide manufactured home, all on excellent real estate within a beautiful neighborhood.

Quality Materials

All our new and pre-owned manufactured homes have vinyl siding complete with attractive pitched roofs. This ensures that each unit is fully weatherproof and also nice to look at from the outside.

Fully-Equipped Homes

Each manufactured home also has a master bedroom suite, full baths, and usually an extra family room. This is more than any other mobile home community offers, whether you look in Ann Arbor or even Cider Mill Crossings.

Works with A Lot of Budgets

When we say we offer prime real estate at the best prices, we mean it. Our range covers several types of budgets, but our homes aren’t dirt cheap either. Call us up today and talk about your budget; chances are that we can help you get that dream home sooner than anyone else!

Down Payments

Our required minimum down payments can be as low as 5% of the purchase price. This could make the payment around $3,000, which is a bargain for a mobile home in Michigan.

Great Amenities

Most of our manufactured homes have features like stone fireplaces and hardwood flooring. The kitchens have oak finishings and enough space for comfortable movement. With our full bath and master bedroom suites, it can be hard to believe the reasonable prices!

For maintaining all this, you might want to read up on some extremely helpful manufactured home tips.

Along with space, we also guarantee that each of our mobile homes is luxurious and modern. We have renovated the layouts, with central air conditioning units and much more.

Making it Affordable

The people at Tyrone Woods Manufactured Home Community are committed to helping you become a mobile home owner in Fenton, Michigan. To this end, we have connected with several top financial advisors and other groups in the nation. With their help, we hope to assist in achieving your dream of homeownership soon.

Helping Out with Financial Issues

Is your credit score on the lower end? This should not be a problem! Our partners have solved many such issues for our current residents, and they’re ready to help again at a moment’s notice.

No matter what your credit score or income levels are, Tyrone Woods can work out the best ways to make sure you are able to afford living in Michigan. You can also conduct your own research, starting by finding out how much manufactured homes are in your desired area.

Can You Save Money as a Homeowner?

At Tyrone Woods, we also want to see homeowners saving as much money as possible. This is why we have ensured that a manufactured home is available in the size you want. Overall, buying one of our units outright is also cheaper than most leasing options. The overall savings could be from $200 to $300 each month!

Rent-To-Own

Tyrone Woods provides the options of rent-to-own mobile homes in Michigan. When you lease manufactured homes from us, you also earn some monthly credits that can contribute to a down payment for future purchase.

The Takeaway

Overall, you can be rest assured that purchasing a Tyrone Woods manufactured home unit will be a logical investment. Along with all the quality features of the units themselves, our residents also appreciate the wide-spaced plots, generous amenities, and other benefits. All of this is on our manicured grounds, which give a real feeling of luxurious living.

Are you ready to purchase your ultimate dream home? Call us up and book a tour today!

Read more

2 years ago · Justin Becker · 1 comment

When is the Best Time to Buy a Manufactured Home?

A manufactured home lasts for as long as 30 to 50 years if maintained properly. That is why buying a manufactured home can be a worthwhile investment. This is also one of the reasons why you should not always splurge on stick-built homes that are extremely expensive (see: mobile home vs. stick-built). However, buying a manufactured home requires exploring the market at the right time.

Once you know the best time to buy a manufactured home, you can easily afford luxury mobile home living.

Best Time to Buy a Manufactured Home

Generally, the real estate market has no season. It flourishes all around the year because people are always looking to buy, rent, or sell some sort of property.

The secret that only the experts of the manufactured home industry know is that although the industry is in swing 365 days of the year, there are a few weeks in between when the average sales price goes down. This is also the ideal time to negotiate since the buyer tends to have an upper hand during this season.

Look Out for the Peak Season

The peak season is the least ideal time for you to spend in the housing market. Anytime there are more buyers, you will definitely get a bad offer. On the other hand, the time when the industry has the fewest buyers is your perfect chance to make the move. This time is usually the months of December and January, as well as the hottest week during the summer.

Know About the Competitive Time of the Year

People mostly search for new homes during June and July. That is when home buyers make the most of summer break. Since some might want to involve their children, it makes sense to utilize these months while getting started with the moving process. However, this also means that a large population of home buyers is actively searching for a manufactured home within this time frame (see: how to search for mobile homes for sale). Thus, the real estate market might be highly competitive with high prices of manufactured homes. Therefore, you should wait a couple of months till you get a better price.

Colder Months Can Be Ideal

During winter, you’d hopefully see a different scenario as people prefer snuggling safely in their home. Home prices are low in the colder months. That is when you should take a step ahead and look for a manufactured home at a reasonable price.

Start Your Search Beforehand

The time when you will get the best price on manufactured homes is when you should be making the offer. By this time, you should have finalized the particular mobile home you are interested in and have the estimated deposit in hand.

This means the search should begin months ago. Ideally, a real estate agent will connect you to some leads. You will take multiple looks at your options, compare, and make up your mind in at least six months. We do not recommend you make a decision any quicker than that.

Average Price of a Manufactured Home

Keep in mind the average life expectancy of a manufactured home. Do not let mobile home dealers fool you with a higher price with the justification that the mobile home will last you longer. That said, a manufactured home is easily available at a quarter of the price of a same-sized traditional single-family home. So, a mobile home suitable for a single-family is priced around $100,000 to $150,000 (see: can a manufactured home be considered a single-family home?).

Tips to Get the Best Deal

The basics of how to buy a manufactured home remain the same, but here are some additional tips to help you get the best deal that will leave you with no regrets:

Have a List of Requirements

There are some standard features to look for when buying a manufactured home, but you can always dream for more. The chances that you find something that checks all 100% of your requirements are slim. However, that should not keep you from trying to find that perfect personal property.

Other than checking off that the property was assembled as per the building codes, you can wish for a specific square foot area. You may prefer living in a manufactured home park. So, your property should be appropriate for that.

Research and Compare

No matter how much you fall in love with the first property you visit, never settle for it without researching other options. Go and visit every possible option that fits your criteria. Make sure to thoroughly compare and research the housing market before shortlisting your options.

What to Look For in a New Mobile Home

Whether you are purchasing a new mobile home or a used one, some features need to be as good as new before you move in (see: what is included when buying a new manufactured home?).

Ensure there are no plumbing issues. The foundation should not only be intact, but in its best possible condition. There shouldn’t be any issues with the drains or electrical wiring. Check that the roof is clean, has no leaks, and guarantees easy drainage of water.

Upgrades You Can Negotiate For

Sellers are ready to offer extras to guarantee sales when the season is out. That is exactly when you can take advantage of the off-season when buying a manufactured home. Do not forget to ask for these upgrades; you might get an unexpected bargain:

• Improved insulation
• Shingled roof installation
• Vinyl sideboards
• Upgraded flooring

The Credit Score

Though manufactured homes are affordable as compared to any other property, some people might go for loan programs. Your credit score will play an important role in whether or not you can buy a mobile home.

So, what credit score is needed for a mobile home? The average credit score required for the purchase is 580 to 620. If you are lower than that, start paying your bills on time. You can devise a plan to get rid of your loans as soon as possible. This is your best bet to bring your credit score up.

The Takeaway

Manufactured homes are a great option for those who want to buy a home within a specific budget. If you are one of them, the best bet is to buy a manufactured home in colder months. That is when the market is least competitive.

You are now just one step away from enjoying mobile home living. So, go ahead and start your search in the housing market with a real estate agent to find the best manufactured home for you and your family!

Read more

2 years ago · Justin Becker · 3 comments

Buying a Manufactured Home: Everything You Need to Know

Alternative housing options are growing more popular with every passing year. This should not be surprising, given that the prices of traditional homes continue to soar as we speak. A traditional mortgage can be a life penalty that usually comes with site-built homes, which usually makes people wary.

On the other hand, buying a mobile or manufactured home can be a relatively cost–effective way to have a home with a permanent foundation. With urban development making everything in the cities more expensive, it is high time we start looking at options like a manufactured or modular home for long-term investment (see: is buying a manufactured home a good investment?).

What is a Manufactured Home? 

So, what is manufactured housing? Manufactured homes, or mobile homes, have a somewhat permanent foundation. This is similar in look and feel as a small site-built home, but it is not like traditional real estate.

In a nutshell, a modular or manufactured home is manufactured in a factory according to the HUD Code. Some buyers might be able to purchase a mobile home outright, while others may have to check out manufactured home financing options.

The Intended Site

After the manufacturing process, the mobile home is transported to its intended site. This could be:

• A mobile home park
• A manufactured home community
• The homeowner’s personal property, which means they will own both the land and the mobile home on it
• Private land that is rented out to the manufactured home owner

If you are thinking about buying a manufactured home or applying for manufactured home loans, there are some factors to consider first.

Buying a Manufactured Home

One can usually get manufactured or mobile homes through the medium of retail dealerships. Fortunately, most modern manufactured homes have an open floor plan that the occupant can customize as required (see: can you customize a manufactured home?).

Buying a manufactured home is not always about the relatively low initial cost. It is also about the amenities you get here, with some surprising additions, such as fireplaces, walk-in closets, patios, hardwood flooring, and much more. 

Wondering what you should know before buying a manufactured home? There is a lot to consider, especially if you are thinking about financing options and renting land. Without any further ado, let’s have a close look at the details surrounding manufactured homes and modular homes:

How Do They Make Manufactured Homes? 

Curious to know how mobile homes are built? The HUD Code–approved manufactured homes are made on a permanent chassis, which is what they call the base frames equipped with wheels. Professionals will then transport the homes in one section or more. After reaching the site, they will remove the axle and wheels from the chassis and anchor the manufactured home in place. The manufactured home can be on either a semi-permanent or permanent foundation, according to the regulations and wishes of the owner. Some manufactured home communities may also have restrictions about this particular decision.

About CrossMod Manufactured Homes

Manufactured housing has developed quite a lot in the recent past. We now also have the option of “CrossMod,” which is a fairly new class in the manufactured home category. The Manufactured Housing Institute, which is a trade group, came up with this name.

These are manufactured homes that follow HUD standards and have permanent foundations, almost like site-built homes. They also have other features, like garages, covered porches, and drywall.

Is There a Difference Between Modular Homes and Manufactured Homes?

Modular homes are a bit different. They might come from factories, but are made according to the state and local building codes. This subjects them to the same codes as single-family site-built homes. Learn if a manufactured home can be considered a single-family home here.

When modular homes leave the factory for their site, they will usually be in sections instead of pre-assembled. Local contractors will then assemble the modular home on the home site.

While they might seem the same, tiny houses or tiny homes are not technically manufactured homes (see: tiny house vs. manufactured home). A manufactured home needs to be around 320 square feet or more according to the HUD Code for manufactured homes.

What Exactly is a Mobile Home and Why Should You Know?

So, is a manufactured home a mobile home? Manufactured homes were originally called mobile homes. The terms are now almost synonymous, however there is a difference that you should know before buying a manufactured home.

Technically speaking, mobile homes are those factory-built homes from the time before June 15th in 1976. After that, the federal HUD standards entered the scenario. Factory-built homes were then called either manufactured homes or modular homes.

Pre-Owned and New Models

Before any kind of manufactured home purchase, you may consider both pre-owned and new models. If you are wondering if you should buy a used manufactured home, make sure to avoid those from before the HUD Code introduction. Here are some ways to find manufactured homes:

• Real estate agents
• Real estate listing websites
• Online marketplaces for manufactured homes
• Owners of manufactured home communities

Here are some tips on how to find used mobile homes for sale.

What to Expect in a Manufactured Home Purchase

When you are buying a manufactured home, it might be like buying a vehicle without haggling on the price. You can visit mobile home parks or communities and check out the manufactured home construction before buying. There may also be a sales lot with manufactured homes on display.

You can choose the manufactured home and its customized features, then apply to some financing options the same day. There will be several sizes and floor plans available, from 1-bed and 1-bath basics to 4-bed, 3-bath manufactured homes. The square footage may range from 500 to over 2,500.

Responsibilities of the Manufactured Home Seller

The manufactured home retailer will be responsible for transporting the structure (learn how much it costs to move a manufactured home here). They will usually give you a package that includes installation as well. If not, be sure to ask about such services as they usually require a professional.

Many manufactured home makers have warranties that cover the plumbing of the structure, the electricity, and the heating system, as well as the home itself. These can range from 1-5 years, depending on the Manufactured Housing Institute regulations. Before committing to anything, you may also want to read up on the life expectancy of a manufactured home.

Appliances already in the manufactured home might also be under warranty. Ask for details before finalizing any purchase.

How to Choose a Lot for Your Manufactured Home

Before you choose your manufactured home, you need a site for it. This could be on your own land, rented land, or a leased lot within a manufactured home community.

What are Manufactured Home Communities Like?

These communities can be very different from each other. Some might be restricted communities – only for residents aged 55 or older. Others might welcome people of all ages, including families and single individuals.

Some communities might insist that you get rent to own homes. Others might let you bring in your home, with certain limitations.

The newer communities have lots of amenities, including lawns, gardens, pools, waterfront lots, golf courses, etc. For some of the residents, living in such communities might be preferable to a regular site-built home (see: what are the benefits of a land-lease community?)

Buying Land for a Manufactured Home

If you prefer to buy land for a manufactured home, you may have to check whether the local zoning restrictions allow for mobile homes or manufactured homes. Also, check the following factors:

• Septic permit requirements
• Building permit requirements
• Electrical permit requirements
• Electric and plumbing setup options
• Site preparation
• Easy access to the property in question
• Soil stability and quality

Cost of Buying a Manufactured Home

In November, 2019, the average price of medium-sized manufactured homes in the U.S. was around $81,600, according to the U.S. Census Bureau. This price probably has gone up by a bit since then, but it is still much less than a traditional site-built home (see: mobile home vs. stick-built).

For more details, here is a guide on how much manufactured homes are. This can help you make the right decision about buying a manufactured home.

Other Costs

Other than the base price, you also have to consider several costs such as:

• The rent or price of the land (see: what is the lot rent for a mobile home park?)
• The cost of adding on any features, like a patio, steps, foundation, etc.
• Cost of setup and transport
• Fees for services, utilities, and shared amenities in a mobile home community
• Down payment and future loan repayments

When you are considering manufactured homes, make sure to include these costs as well.

Do Manufactured Homes Increase in Value?

Since they are different from traditional homes and usually not considered real property, manufactured homes may not appreciate in the same way as a site-built home.

However, some kinds of manufactured homes could appreciate in value to some extent. Learn how to increase the value of a manufactured home here.

Getting Manufactured Home Loans

If you are struggling with the down payment or total cost of your chosen home, it is possible to get help from a lender. Your manufactured home retailer can help out in this regard, similar to what happens with auto loans.

You can also apply for a personal loan on your own. However, the lender should be willing to work with the retailer to provide a manufactured home loan. Still, the best bet is to pay the lump sum amount for a manufactured home. Learn how to finance a manufactured home here.

Mortgages for Manufactured Homes

If you want to go with a mortgage, that is also one way to finance a manufactured home. However, this has many requirements: the homes should have a permanent foundation and a proper title. This way, they can fall under the category of real property when bundled together with the land.

Chattel Loans

Chattel loans are applicable when manufactured homes have a personal property title. This is what usually happens when you want to secure financing for a manufactured home.

Like personal loans, chattel financing will also have relatively higher interest rates. So, it is worth knowing before choosing this option. However, they usually also have lower upfront costs and speedier closing times.

The terms of these loans are also shorter than that of a regular mortgage. With chattel loans, the terms may be 10, 15, or 20 years, while a traditional mortgage is usually around 30 years.

The Terms

These are usually backed by the government, especially when they come from the Federal Housing Administration or the U.S. Departments of Agriculture and Veterans Affairs. These are known as FHA loans or VA loans. They usually have low requirements for down payments. If you get an FHA loan (Title I), you can use it to either buy or refinance the lot or the home that stands on it. You do not have to own the land in this case.

Conventional Mortgages

Conventional mortgages do not have government backing. There are two choices here if you have a manufactured home with features similar to that of a site-built home. These are:

• The Fannie Mae MH Advantage Program
• The Freddie Mac Choice Home Program

Both of these options might include very low down payments, sometimes as little as 3% of the actual home value. No matter what you end up choosing, there is an option to consider loan insured options just in case.

Before applying for any manufactured home loans, keep in mind that they might require a higher minimum credit score than traditional loans. You may want to work on that aspect a little before sending out any applications.

The Pros and Cons of Manufactured Homes

We have to remember that manufactured homes may not be for everyone. Here are the pros and cons of this housing option:

Pros of Buying a Manufactured Home

• Lower initial costs: Other than the land, a new manufactured home might cost 47% less for each square foot than a site-built house
• Lots of choice: There are several ways to customize a manufactured home; you can choose from different floor plans, amenities, and upgrades
• Energy–efficiency: These homes are required to meet the HUD standards for both safety and energy-efficiency (see: are manufactured homes energy-efficient?)

Cons of Buying a Manufactured Home

• Financing issues: Since many manufactured homes may not be considered real property, they will not be eligible for traditional loans and mortgages; personal and chattel loans have higher interest rates
• Zoning restrictions: Many cities now do not allow new manufactured homes or require that they stand on very large lots; this severely limits the location choices and forces manufactured home occupants to live in unincorporated or rural areas.

The Takeaway

Once you buy a manufactured home, remember that it needs a lot of care. If you want this structure to last for a long time, be sure to stay updated on the maintenance, repairs, and precautions regarding the weather. These extremely helpful manufactured home tips should help you stay on top of it all!

Read more

2 years ago · Justin Becker · 2 comments

Living in a Manufactured Home Park: What You Need to Know

Manufactured home communities are rising in popularity and becoming more common.

The good news is that manufactured home communities also seem to improve more every year and the perks you can benefit from are astounding. Simply put, manufactured home communities have a lot to offer.

Sure, a manufactured home park may have some significant drawbacks, but the overall benefits are also essential to consider.

This can help you decide if a manufactured home is the route you want to take for your dream home over a traditional family home (see: mobile home vs. stick-built).

This discussion will cover the advantages and disadvantages of living in a manufactured home park. We will cover everything we believe you should know and understand about a manufactured home park to give you the best information possible to make an informed decision.

Let’s start with some basics by covering what a manufactured home park is and what you can expect.

Living in a Manufactured Home Park

A manufactured home community or manufactured home park can be defined as a community setting that accommodates numerous manufactured homes.

The homes within the community or park are typically rented, purchased, or leased, and located within one development or site.

The primary difference in the homes themselves is in the construction process. Checkout how double-wide mobile homes are built here.

Manufactured homes are built at a location and then brought to the development site. This is different from traditional family homes, which are built from the ground up right at the selected location.

One of the most important things to understand about manufactured home parks is that the land is often leased.

Manufactured Home Parks and Communities Vary

Several different types of manufactured home parks are available, but leased land is their typical structure.

Most manufactured home parks are used specifically under a leased-land agreement, however a few manufactured home parks are operated and owned solely by the residents.

Additionally, you have manufactured home communities that specifically cater to the senior demographic and are designed to appeal more to individuals on fixed incomes.

Much like traditional family home neighborhoods and communities, some manufactured home parks are of the high-end regarding finishes and price. Others are more affordable, with fewer options available to the buyers.

The lower end manufactured home communities/manufactured home parks are typically going to offer more affordable prices.

Clearly, for the vast majority, this presents many options for an individual considering purchasing a manufactured home and moving into a manufactured home community. Checkout the advantages to buying a mobile home vs. renting here.

Leasing Lots in Manufactured Home Parks Can Be Sensible

When individuals decide to purchase a manufactured home, sometimes leasing a lot is the only financial option that makes sense for the situation.

It comes down to a budget play at this point and is often cheaper vs. owning the land.

However, in a manufactured home park where you opt to do this, you do run the risk of not having a fixed lease price like a mortgage. So, leasing the land in a manufactured home park runs the risk of annual rent increases.

Clearly, rent increases are not desirable. Especially when you factor in that they may come at undesirable times, such as when inflation generally is on the rise.

Rent increases would happen at the discretion of the property owner or the park owners who have decided to buy mobile home parks as investment vehicles. It is not uncommon for owners to lease land and develop mobile home parks, especially private equity firms.

While rent increases may not happen every year, it wouldn’t be a safe bet to try and predict when rent increases may occur.

This can make the affordable housing option of purchasing a manufactured home in a manufactured home park with leased land less appealing than you may believe. With that said, there are many perks that come with a land-lease community, which we will go into more detail on here.

Property Taxes for Leased Land will Fall on the Mobile Home Park Owner

When it comes to mobile home living, you still have factors to consider as mobile homeowners that can make an impact financially.

One of them that is important to note is that if you opt to go for leased land in a mobile home park or mobile home community, you will not be responsible for the property taxes.

This is due to leasing the land as opposed to owning the land, so the expenses for the property taxes at this point would fall on the mobile home park owners.

This can be a positive for the financial side of things. Just keep in mind the discussion we had about potential annual lot rent increases previously.

Other Factors to Consider

We have discussed some potential options with mobile homes and mobile home parks that will be presented to you during the purchasing phase.

However, we still have several essential items to cover about mobile home parks that are imperative to understand.

A mobile home is a significant purchase with a median sales price of $123,000, so, ideally, you should understand as much as possible about mobile home parks and what they can offer.

Let’s start with some significant advantages of living in a mobile home park.

Budget-Friendly

In general, mobile homes and mobile home parks are attractive to buyers because they offer a budget-friendly way to get into a home with adequate square footage and great living.

Although we live in a time of high inflation, mobile homes are beginning to offer more options than ever when it comes to finishes, the number of bedrooms, and even the yard size. This is all at a lower price than you would expect to pay for a traditional family home.

Mobile homes and living within a mobile park is an excellent option for affordable living and can be financed in some situations using FHA (Federal Housing Administration) loans. This is something some traditional home buyers take advantage of, when transitioning into manufactured housing, during the financing process.

Not to mention, typically, if you live in a mobile home on leased land, as we discussed previously, you will often enjoy the more affordable cost of other items, such as water, trash pickup, and recycling pick up.

Maintenance is Minimal

Another great thing about choosing to live in a mobile home park is that in many situations, maintenance-related issues will be covered by the mobile home park owners.

While you may be responsible for some small yard maintenance, other items around the mobile home park will be taken care of by the mobile home park owners.

Great Locations

Location is always a critical consideration for individuals before making a home purchase for a traditional stick-built. The same can be said for individuals looking to move into a mobile home park.

Often, mobile home parks are in ideal areas. Not only do a lot of mobile home parks sit near beautiful scenery such as ponds or mature trees, but mobile parks are also often located near major cities and within a reasonable distance of most local amenities.

This can be a huge plus to consider for those who enjoy the best restaurants and the rest of the communities in nearby cities have to offer.

No Neighbors Below or Above You

Clearly, this is not something you would deal with purchasing a traditional family home.

For those who may be considering an apartment, this could be not very pleasant and something you may want to consider avoiding.

While mobile home parks are not going to provide huge yards by any stretch, you can undoubtedly enjoy mobile home parks providing no neighbors that are directly above or below you to worry about.

You have your own mobile home to worry about, along with the people in it, and that is it.

Likely No Property Taxes

We touched on this previously for a moment, but it is a significant factor to consider. No property taxes each year can be a considerable saving.

While it is typically only an advantage when leasing land or the lot your mobile home rests on, it is still a significant benefit.

Just keep in mind that this does typically come at the cost of annual rent increases.

Rules within the Mobile Home Park

Most of the time, when you are ready to make a purchase like a mobile home, you have reached a point in life where rules within the community or mobile home park are welcome.

Mobile home parks can be desirable due to rules that are enforced within. Things like no nuisance music after certain hours is a typical rule you would find within a mobile home community.

This is probably heavily welcomed by anyone moving from an apartment complex.

Other Mobile Home Park Perks to Enjoy

When it comes to the benefits mobile home parks offer, we have barely scratched the surface. We have not even included what some mobile home parks may offer in the form of amenities or perks.

For example, many mobile home parks offer community pools, community fitness facilities, and events you can attend with the entire family.

Mobile Home Park Friendships

Another perk that many search for when deciding if they want to live in a mobile home park is something simple in nature, but important to everyone; community and friendship.

Mobile home communities often have age restrictions or appeal/market to select demographics, such as seniors, as we discussed earlier.

This creates a community and environment that takes a lot of similar individuals in age and lifestyle and places them together.

Many individuals currently living in a mobile home park would probably rank the community atmosphere and the friendships formed as the best perks you can gain from living in a mobile home park.

This also creates an environment when you form friendships within the mobile home park that give you a sense of safety, security, and peace of mind with your living situation and the location of your new manufactured home.

Upgrades are Possible

Many individuals believe that a mobile home does not have the ability to upgrade or allow for some of the finishes you prefer. This is not true!

Mobile homes now offer a lot of upgrades that are possible, including high-end finishes.

Even if you are leasing land, if you opt to purchase a manufactured home, you can even customize it to be built based on your desires.

When you do this, you can feel safe knowing that the manufactured home is being built to the standard of the Manufactured Housing Commission and HUD Code for manufactured homes.

Do not hesitate to purchase a mobile home or live in a mobile home park because you feel you don’t have options or can’t have any customizations. You certainly can, and the options are usually limitless, assuming you are not renting a mobile home.

Talking with the mobile home park owners or another professional about your options would be your best bet to ensure you go through the proper process and get exactly what you want.

The Takeaway: Mobile Home Parks are a Great Option

As we stated at the beginning, manufactured housing is rising in popularity. This can be attributed to the fact that manufactured housing is becoming more customizable, and manufactured housing communities are beginning to appeal to many homebuyers.

Manufactured housing and owning a mobile home also has a lot of important considerations that all homebuyers should be aware of.

The manufactured housing industry is booming right now, with more than 17 million individuals in America currently living in mobile homes. Understanding the ins and outs and pros and cons of mobile home parks is essential to your decision-making process.

Mobile home parks clearly offer many advantages; but if you go into the process unaware or uneducated, you may get into a situation you did not intend to.

Our goal is to help you avoid these situations and inform you about everything that is imperative in order to fully understand mobile home parks.

We are always here to help current Michigan mobile home residents or help you become a Michigan mobile home resident if you are considering purchasing or moving soon.

If you are in the market for a mobile home or still searching for a Michigan house, we welcome you to check out what we have available in our manufactured home park: Tyrone Woods Manufactured Home Community.

Read more

2 years ago · Justin Becker · 1 comment

How Much are Manufactured Homes?

With the rapid changes and increasing prices within the housing industry, it is no wonder that many people are now looking towards alternative housing options. A traditional house or even an apartment may now be out of reach for someone who is just starting out in life. Plus, it is much easier to be a homeowner when you are looking at options like manufactured homes, mobile homes, trailers, a modular home, and so on.

What is a Mobile or Manufactured Home?

Mobile homes or manufactured homes are housing options that are built a little differently from traditional brick, cement, or wooden houses. The main difference lies in the way they are assembled; the parts of a manufactured home are made in a factory (see: how are double-wide mobile homes built?). Depending on the kind of manufactured home you buy, the parts might come pre-assembled or in a few pieces that you have to join together.

A site-built home or traditional home will be constructed right on the spot where you want it. The interiors may vary, with a manufactured home being likely smaller than the site-built home (see: mobile home vs. stick-built).

Why Would Anyone Buy a Manufactured Home?

Manufactured homes may not be the first option for many folks. Some may not be able to adjust to mobile home park living, while others have no experience in working with manufactured home dealers. In any case, manufactured housing does provide several perks. Here are just a few to consider: 

Lower Median Sale Price

When compared with traditional home and apartment prices, a mobile home cost doesn’t seem too bad. The average sales price is usually within reach of many regular folks. Some might also opt for conventional loans. Plus, you don’t have many property taxes to worry about; mobile homes are regarded as personal property and taxed accordingly!

Quick Building

The time it takes to build a mobile home compared to building site-built homes is very little. You usually do not have to bother with building permits, especially if you are already within a mobile home park.  This speeds things up even further.

Customization

Most manufactured homes are customizable, so there is not much searching around like with site-built homes. You can select whatever floor plan seems best and move walls around as needed (after consulting a professional in the manufactured housing industry). You can also do some research on whether one can customize a manufactured home or not.

High-Quality Assurance

When you look at modern manufactured homes, you can be assured that the living space will be of high quality. There are very strict standards set by the Federal Housing Administration regarding urban development, so each home is sure to be very well-constructed.

Desirable Locations

Site-built homes in desirable locations with good schools and great amenities might be a far-off dream for most middle-income folks. However, several Michigan manufactured homes are now within such neighborhoods. A manufactured home community might even have features such as a clubhouse, pools, and so on.

Are There Any Downsides of Manufactured Homes?

There are some definite compromises to keep in mind when you are looking at manufactured homes for sale. The man two factors here are as follows:

Not as Sturdy as Site-Built Homes

Even if you get a decent square foot measurement at affordable prices, there is the fact that mobile homes are simply not as durable as the traditional option. Their deterioration may also make them more challenging to sell than a stick-built home.

Before deciding to go for manufactured housing, make sure to take a look at the life expectancy of a manufactured home. After all, a lower than average price range will mean compromising in certain areas.

Smaller Spaces

While there are mobile homes with similar square footage as traditional options, they are usually the more expensive kind. For regular manufactured housing, the homes for sale will be smaller than most people are used to. Tiny homes are great for the environment, but not everyone is suited to such a style of living (see: tiny house vs. manufactured home).

There are several other downsides to buying manufactured housing. However, these will vary widely depending on your specific needs and requirements. Make sure to conduct a cost-benefit analysis before getting a place in a manufactured home community.

How Much are Manufactured Homes?

Of course, we now have the all–important question: just how much can we expect manufactured homes to cost? Along with answering the question directly, we should also take a look at the other costs to consider when purchasing a mobile home and/or living in a manufactured home community. The influences on these costs are also worth a discussion.

Ready to calculate and consider the overall cost of buying manufactured homes? Let’s start discussing them now!

1. The Numerical Cost of Manufactured Homes

The average sales price of mobile homes, and especially Michigan manufactured homes, might fluctuate at times. However, the cost of these homes is mostly rising due to the limited supply and higher housing demand.

Keeping the square footage in mind, the average purchase price of a mobile home has gone from $75,000 to $100,000 in the course of one year. Since the cost of private land has also gone up, the cost of mobile homes will follow suit.

2. The Size of a Mobile Home

A mobile home or new manufactured home can be twice the size of a small apartment and still cost much less. Even if the property, size, and location are around the same, the rent space for an apartment or traditional mortgage payments can be more expensive than making payments on a new manufactured home (see: what is included when buying a new manufactured home?).

3. An Efficient Construction Process

Unlike a site-built or modular home, manufactured homes are made within a factory. This saves them from damage or delays due to any adverse weather conditions.

The average cost of a new manufactured home in the year 2020 was around $57,700. However, the cost will vary according to location, size, square foot area, etc. If the square foot area of the mobile home is larger, for instance, the median sale price and expected down payment will increase.

High-Volume Manufacturing

With bulk manufacturing, the process of making a mobile home becomes much more cost-effective. Manufacturers can get suppliers, building materials, and other necessities in bulk rates. This means a lower final cost per square foot.

If you opt for a desirable location, be prepared to pay a little more for that privilege as well. However, the convenience of having a good school or workplace nearby can more than make up the extra costs per year. The same goes for opting to live in a decent manufactured home community.

4. A Permanent Foundation

Many mobile home owners opt for a permanent foundation. This is great for securing their manufactured home and increasing its value. On the downside, the foundation will increase the initial cost of buying or building a mobile home.

5. The Placement of the Mobile Home

If you place your mobile home or manufactured home on undeveloped land, you will have to work on extending utilities. This will make the mobile home livable, but also up your costs.

You can also choose to lease some land or buy it outright, if possible. Rural areas will have lower land prices than any suburban or urban locations.

6. Applicable Taxes

The placement of your mobile home will also decide the taxes you have to pay. A mobile home owner who rents the land they live on will probably have to pay fewer taxes than one who owns the land outright.

Paying the Same as Regular Homes

If you are in Oregon or California, you will be paying around the same amount in local and state taxes for your mobile home as you would for site-built homes. For now, these rates are around 0.98% and 0.72%, respectively.

A mobile home on a permanent foundation will incur the same taxes as traditional homes in New Mexico, Arizona, and Washington. A double-wide mobile home will probably incur more taxes than a single-wide mobile home.

7. The Delivery and Setup of the Mobile Home

Two significant costs of buying and moving into a manufactured home are the delivery fees and setup charges. Fortunately, many mobile home manufacturers will waive delivery fees if you are located near their headquarters. They will likely mention the radius limitations in their policy.

If you need an escort vehicle or several moving trucks, the delivery costs are likely to go up (see: how much does it cost to move a manufactured home?)

Setup Costs

The setup costs may also be included in the price of the manufactured home. However, this will again depend on the manufacturer you choose. Assembly according to your unique requirements may carry an additional fee.

8. Customization Costs

One of the main benefits of having a mobile home is that you can customize it to your requirements. Along with the floor plan, here are just a few features that a mobile home owner might dream of having:

• A functional fireplace
• In-built furniture that can pull out when needed, like kitchen counters, shelves, or study desks
• Sturdy siding materials
• Roof coverings and other upgrades

Getting any or all of these will be absolutely possible in a manufactured home. However, you do have to be prepared to pay up for these additions. The exact cost will depend on how much you want to customize the mobile home and how much your manufacturer charges for it. You can also consult these extremely helpful manufactured home tips for more ideas.

9. Insurance Premiums

With any major purchase, one is usually advised to  buy an insurance policy in order to protect the investment. Mobile home insurance covers issues such as theft, fire, weather damage, etc.

If you think your home will be at risk while on its way to the desired location, you may want to purchase travel coverage as well; it is not necessary, though.

Of course, the insurance payments will increase the cost of having your mobile home. You may have to pay more for a double-wide mobile home or if your mobile home is located in a disaster-prone area (see: wind zones for manufactured homes).

10. Seasonal Changes in Prices

If you are wondering how to lower the costs of acquiring and running a mobile home, it might help to look at the season and buy accordingly. The peak seasons will usually have higher prices. Therefore, it is a good idea to look for months where the mobile home prices are as low as possible.

Months with the Lowest Potential Pricing

The average mobile home prices from January to March are usually less than during the other months. You might even be able to find a brand-new home at slashed prices during this downtime of the year. If you are buying something large, like a triple or double-wide mobile home or mobile homes with two sections, the savings could be up to tens of thousands of dollars.

With fewer people buying mobile homes during the winter months, there will also be fewer sellers. You should be warned in this situation as you may find some bargains, but they won’t always be in the size and combinations you require.

Months with the Highest Potential Pricing

The summer months of June through September will showcase several choices of mobile homes for sale. You might be able to find that perfect home and even be willing to pay a little extra for it. If you want to sell during this month, this guide on selling a manufactured home in Michigan might help.

It can be quite challenging to find the perfect balance between the choices of homes and reasonable price ranges. Therefore, you should make sure to shop around a bit before making any final decisions.

Considering a Modular Home

If you want the perks of both site-built homes and mobile homes, a modular home might be the answer. These homes have similarities with mobile homes in terms of construction, but also offer the benefits of a site-built home.

Basically, modular homes have their parts manufactured in factories. However, they have a separate building foundation on the site where the parts are brought and assembled.

Wondering whether a modular home will fit the bill? Here are some quick facts about this particular housing option:

• Modular homes have to be made according to the same building codes as on-site homes
• They are easy to finance and refinance, if necessary
• Their value appreciates over time like that of traditional homes
• Every modular home needs an inspection and approval by on-site local inspectors, along with factory inspection during production
• They can be any kind of floor plan, shape, or size as per the owner’s needs
• They are stronger than site-built homes, as they have to withstand road transport
• It only takes about 4 to 8 weeks to construct a modular home’s parts in a factory
• Modular homes contribute to energy-efficiency due to their construction

The Takeaway

At the end of the day, a manufactured home makes it relatively easy to achieve a homeowner status. Having your own home gives you a sense of security and achievement, no matter how small or unconventional it might be. With mobile homes costing less per square foot than traditional homes, you will be getting more value out of any down payment and monthly payments.

If you are in the market for quality housing that also needs to be affordable, manufactured homes just might be the way to go. A modular home  may also be viable, though a double-wide mobile home will probably give you enough space for a comfortable lifestyle.

At the end of the day, the exact cost of a manufactured home will depend on various factors. You need to determine the level of customization, manufacturer brand, and all the amenities required. These factors, and more, will determine the cost of your mobile home.

If you have decided to take the plunge, it is a great idea to read up on how to buy a manufactured home today!

Read more