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Securing Finance for a Manufactured Home Improvement Project

Securing Finance for a Manufactured Home Improvement Project

Manufactured Houses
Manufactured Home Improvement Project

Securing finance for a manufactured home repair or renovation project can be a bit difficult and tricky task. If you are living in an old manufactured house, you will probably need to make repairs to the house to make it a bit more attractive and to fix damages. However, if you are planning to sell your old mobile home in the near future, then securing finance for repairing the house is not a good idea.

Having a proper knowledge on the various manufactured home financing options is necessary, as it will give you an idea on how to acquire finance for manufactured home repairs. So, consult with a few manufacturers and some manufactured homeowners, as it will help you understand about manufactured home financing options.

Some of the credit unions in the country often provide competitive financing for manufactured home repair in the form of personal loans and equity loans. However, credit unions may sometimes add the vehicle you own as a lien for securing the loan on manufactured houses.

Some other popular sources of financing are personal loans from your family members, friends, or equity loans. In addition, you could also seek help of your own personal bank and request them to finance your manufactured home improvement project. If you are a person with a good credit score, then acquiring a loan from financial institutions will be a simple task.

Several expert manufactured homebuilders advise their customers to look for the best interest rate when they are trying to secure finance for manufactured houses improvement project. Additionally, homeowners should also try not to settle for an enormously high, long-term interest rate loan. This is because most old manufactured homes fail to retain their value as much as conventional site-built homes, meaning that paying back a huge amount to your financial institution is a bad idea.

However, manufactured home improvement projects that include updating the bathroom or kitchen, adding porches or patios, replacing the flooring, wall covering, and paneling can help to raise the resale value of your home significantly. This will help you get a better deal when you are selling the house.

Theft Prevention in Manufactured Houses

Theft Prevention in Manufactured Houses

Manufactured Housing
Manufactured House Security

One of the simplest ways to prevent burglary in your manufactured housing is to properly lock the windows and doors of the house when you are away. However, standard door locks such as the key-in-the-knob spring bolt locks might not be powerful enough to prevent the entry of burglars into your manufactured houses.

Your best bet for a door lock is certainly a single cylinder dead bolt lock. These types of door locks are usually backed up with a strong reinforcing strike plate that is fixed with three-inch screws. However, you should also take note of the fact that the thickness of the deadbolt should be at least one inch.

Sliding patio windows and doors present a unique security challenge to most burglars. Placing a pipe or dowel in the slider track might be also useful but they are not perfect, as cunning burglars will have the skill to easily bypass them by simply lifting the windows and doors out of its side channels. You can efficiently prevent the issue by tightening the adjustment screws.

In addition to that, make sure to lock your storage sheds or garage, which is located on the property, particularly if there are any ladders or tools inside them. You should also consider using a quality deadbolt lock too, as it will significantly reduce the chances of a break-in.

Investing in a reliable home security system is also a great choice since they will instantly update you when something abnormal happens inside your manufactured homes. You will be easily able to find a cheap home security system without much research. Additionally, you may also invest in a few security alarm systems, as they will also come in handy in the events of a break in.

Below are a few things that you should do when you will be away from your manufactured home for a week or more because this will make your home look occupied even when no one is inside it.

  • Ask a trusted neighbor or friend to pick up your newspapers and mails
  • Hire someone to shovel snow or mow your lawn
  • Request a neighbor to park their car in your driveway
  • Try not to broadcast your absence
  • Make sure to turn the ringer of your landline down or off
Helpful Tips in Enhancing the Décor of Mobile Homes

Helpful Tips in Enhancing the Décor of Mobile Homes

Manufactured Housing
Enhancing Mobile Homes Décor

Manufactured housing has become the preferred choice of living among many of us. They offer more facilities and comfort than conventional homes while also providing increased customization options. The affordable nature of manufactured houses presents a more simplified way of living to the inhabitants. This simple living option can be further enhanced by incorporating several styling and décor elements in the home. This will make the home aesthetically more pleasing while also improving the comfort levels offered to the inhabitants. Described below are few tips to enhance the décor of your mobile home.

Painting

Normally mobile houses come with built-in paneled walls. These panels can be dark and may reflect light poorly to make the interiors appear dim. Painting is the most preferred way to enhance the interior spaces of a mobile home. Using light colors, preferably white will help offer better reflectivity, as the light will bounce through the walls to provide a diffused and even lighting inside the home.

Choosing other colors can significantly alter the ambiance of the interior spaces. Green and reds are the preferred colors to enrich the interiors truly. When opting colors to paint your manufactured housing, do a proper research beforehand and go for the one that suits well with your taste.

Floor Treatment

Carpeting is usually installed on the floors of most of the mobile homes, which may make the overall flooring dull, at times. To improve the décor of your mobile home, you may consider removing the carpeting and replacing it with tiles or hardwood flooring. Such flooring options can offer a pleasing look and feel across interior space of the home.

Upholstery Updates

The other major element that will really assist in the beautification of the interiors of a mobile home is the upholstery. Placing them in the right way across the rooms can convey a unique sense of character while providing more comforts. While choosing upholstery, go for the plain and lighter colors as they can make the room to appear more spacious and bright. For curtains also, you may choose lighter colors over dark ones as it can help in conveying a sense of larger space.

Cabinets

Adding cabinets is another great way to enhance the look of the home. When selecting cabinets, you may go for the lightweight models that match perfectly with the rest of the décor. Cabinets made of wood like mahogany or oak will enrich the interior of the home along with offering added functionality.

Safety Tips for Manufactured Houses

Safety Tips for Manufactured Houses

Manufactured Houses
Manufactured Houses Safety Tips

Many American citizens have started to choose manufactured housing over all other types of housing because of the comfort and convenience offered by these structures. If you are planning to build manufactured houses or if you are planning to invest in these factory-build structures, then you should have a good knowledge about the construction process of manufactured houses.

Consulting with experienced manufactured homebuilders will certainly help you to get an idea of the construction process and it will probably help you discover more about them. The next thing that you should know is to how to eliminate the chances of fire and tornado accidents in these structures. Below are a few fire, CO2, tornado, and high wind safety tips that will protect your home from these dangerous natural hazards.

Fire and CO2 Safety Tips

Install Carbon Monoxide and Smoke Detectors

Manufactured homebuilders advise their customers to install reliable and efficient carbon dioxide and smoke detectors at their home. They also insist homeowners to keep the alarms on each end of their home. Homeowners will also have to ensure whether they are working properly or not every 6 months.

Buy Fire Extinguishers

Make sure to buy at least two fire extinguishers and always keep them inside your manufactured home. You can keep one of them in your kitchen and the other one in your mechanical room. In addition to that, you should also use fire retardants, as they will help you to prevent the spreading of the fire when there happens to be a fire accident in your home.

Tornado/High Wind Safety Tips

Follow Instructions

The first and most important thing to do after building a manufactured house is to confirm whether the house is installed according to the local and state regulations as well as per the manufacturer’s instructions. If your home is not installed according to the regulations and instructions, immediately consult with your manufacturer and take necessary steps to resolve the issue.

Monitor Weather Reports

If you are living in an area that receives high wind, then keep a close look on the weather variations and know the difference between a warning and a watch. In addition to that, you should also purchase additional tie downs, as it will offer more security to your home. Consult with your local contractor to get more information on tornado/high wind safety tips.

Tips for Moving into a Manufactured House

Tips for Moving into a Manufactured House

Best Manufactured Homes
Best Manufactured Homes

The increase in the real estate process across the country has urged many homebuyers to choose manufactured houses over other housing options. Manufactured houses offer all the comforts of a conventional site-built home at a cheaper price. Another added advantage of buying a manufactured home is that you will be able to customize the house according to your needs and desires.

In addition to that, you also enjoy the luxury of installing a number of eco-friendly and energy efficient upgrades to your manufactured house to reduce the heating costs. Below are a few efficient tips for moving into a newly purchased manufactured home.

Shop Around

Many first-time homebuyers have a misconception that a manufactured or mobile house is just a trailer. Nonetheless, the reality is that the best manufactured homes come in a variety of sizes, shapes, and levels of luxury. This means that you will be able to find the right manufactured home for you and your family to live in without much research. However, make sure to shop around for manufactured homes, as it will help you to acquire a better home for a better deal.

Where to Live

You will have to find a place or site to install the house if you are buying a manufactured home. There are three options available to you. You can rent a lot, buy a lot, or become a part of a mobile home community or park. Installing your manufactured home in a community or a park that is filled with factory-built homes will certainly boost the resale value of your home. On the other hand, placing it in your own land will save you the rental expenses. So choose wisely.

Get Insured

Ensure that the manufactured home you are planning to buy is protected beyond the warranty of the manufacturer. This can be simply done by making an investment in manufactured home insurance. Below are three major types of manufactured home protection that you should look for.

  • Coverage of fire, water, and wind damage.
  • Theft of the belongings in your manufactured home.
  • Liability for personal injury.

Even though manufactured home insurance coverage is like standard household insurance, they are a bit more expensive. Look out for real estate agents who sell insurance as a part of packages to get the best deal in this scenario.

Why People Invest In Mobile Home Lands

Why People Invest In Mobile Home Lands

Manufactured Houses
Mobile Home Lands

We can strike a valuable deal and ensure resale value by purchasing mobile homes along with a property. The rules on ownership title separately categorize mobile home under the vehicle and the home property under real estate categories. Let us find out the short term and long term prospects of investing in mobile homes with land.

Competitive Advantage

Depending on the strength of your client base, you would never have to be fazed by competition. Even if the mobile home located on a property becomes old fashioned, there is an option of a new home replacement. The varieties in manufactured housing segment, mainly to meet consumer demands, make mobile homes a worthy investment.

Inexpensive Maintenance

An investor, having the right skill set can do the repair works when mobile homes warrant service contract. In addition to that, there are exceptions to regional service rules, which allow builders to hire a handyman to perform warranty service. That way you can avoid the constant negotiations with a general contractor if your expenses are beyond budget.

Appreciation in Prices

Manufactured houses appreciate in value, all variable factors permitting. The appreciation of prices in mobile homes and the demand among buyers goes in sync even for homes having double-wide sizes. Seasons often guarantee appreciation and that is the time when you should cash in on a lot of properties like mobile home parks.

Control over Property

Where do investors get so much control over varying market forces other than in manufactured housing segment? In mobile home parks, on a tenant-based occupancy, the occupants have to rely on the owners for settling concerns. When a party invests on both the land and the mobile home simultaneously, investors get the control over property related matters.

Longer Term Buying Benefits

Adherence to rules eventually leads to tax relaxation, reduction in paperwork and liquid cash when paying off debts owing to tax department on a lump sum basis. The indirect positive income gives a long-term benefit for investors. In fact, laws regarding tax payment do not hold back investors from expense set-offs and property depreciation.

The great benefit of manufactured housing is the features and comforts offered by these homes. You can simply own the homeland and rent it out to third parties and that way even after retirement an income for a living is assured.

Importance of Inspections in Mobile Home Installation

Importance of Inspections in Mobile Home Installation

Best Manufactured Homes
Mobile Home Installation

Are you planning to relocate your manufactured house? If so, note that there are a few standard inspections, which you need to conduct before and after the installation of a manufactured housing structure. Read on to understand the details of these inspections.

Site Preparation Inspection

This inspection should be done before moving the manufacture home to the property. This inspection will help to ensure that the home installation site is prepared well, as a properly prepared lot is very much necessary before starting the installation of the foundation and anchoring systems of the home.

It should be ensured during the inspection that the area beneath the manufactured housing is well drained. This is important to ensure long-term structural integrity of the home. The installation site should be crowned and grades to avoid moisture accumulation under the manufactured home. In addition, a two percent slope should be provided to offer proper drainage. If it is impossible to provide slope, approved drainage systems can be used.

Rough Inspection

This inspection concentrates on the home installation, electrical, plumbing, and HVAC systems of the manufactured home. This inspection ensures that the manufactured home is installed properly on the site, with necessary piers and tie downs, as per the instruction manual of the home manufacturer. All electrical, plumbing, heating and cooling systems will be checked for their material quality and installation under this inspection. All appliances and parts that are installed by the owner will also be inspected by the same standards as professional installations.

Final Inspection

This inspection will be done once the installation of the manufactured home is completed with all building service equipments, porches, decks, steps, etc. The permanent enclosures and skirting of the home will also be inspected to ensure that these are made of material that is suitable for exposure to elements and contact with soil. The permanent perimeter enclosure of the home should be made of materials used in regular foundation construction.

The inspection will ensure that the skirting of the home is installed as per the installation instructions of the home manufacturers. It will also ensure that the skirting is properly secured to minimize vibrations, assure stability, decrease susceptibility to wind damages, and to compensate for chances of frost heave.

Important Tips for Appraising a Manufactured Home

Important Tips for Appraising a Manufactured Home

Manufactured Houses
Appraising Manufactured Home

The manufactured housing industry has witnessed tremendous growth in the US with over 17 million citizens preferring them for living. Their benefits like low costs, faster construction, and energy efficiency has contributed to their increasing favor among many.

The process of selling and buying manufactured homes has become entirely different now with the setting up of many new rules and regulations. Home manufacturers have adopted new policies that govern the pricing and selling of manufactured homes along with numerous Federal and state laws.

The appraisal process is highly important when considering manufactured homes for living. However, after inhabiting the home, the appraisal process does not include the standardized forms and procedures involved. The process of appraising a manufactured home is done using many other methods. The following are some tips to accurately determine the value of a manufactured home.

Assess the Location

One of the major factors that affect the value of a manufactured home is its location. The value will become higher if the home is located on its own land than on a leased land. It is also worth noting that the value of site-built homes located on a leased land will decrease over time. For homes without land, the amount of this decrease in value is about five percent a year.

When assessing the location, the area around the manufactured home location needs equal consideration. In addition, a growing community or neighborhood location facilitates an increase in the value of the home.

Condition of the Home

The general condition of the home can cause an increase or decrease in the value of manufactured homes. Other factors like aesthetic looks, functionality enhancements, and housing demands in the area also contribute to the value of the home.

The value is significantly higher for a home maintained in good condition than a home needing any major external and interior repairs and remodeling works. For homes located in a community, the conditions of the surrounding homes should be taken into account as well.

Comparing the Home

Another way to determine the value of a manufactured home is by comparing it to other homes that have the same characteristics of size, condition, and location. Do a quick comparison of surrounding manufactured homes to analyze whether they are put up for sale or if the homeowner has set a value. Online housing resources and contacting home community managers is the best way to obtain more information related to the status of the homes.

A Beginner’s Guide to Reverse Mortgage for Manufactured Houses

A Beginner’s Guide to Reverse Mortgage for Manufactured Houses

Best Manufactured Homes
Mortgage for Manufactured Houses

It is true that many manufactured homeowners have no clue on what is a “reverse mortgage” even though they have heard the term several times. However, if you were ready to do a little bit of research, then you would be easily able to know what a reverse mortgage is and how they can be beneficial to the homeowners.

A reverse mortgage can be simply defined as a loan that is available to homeowners above 62 years of age. This loan allows these seniors to take equity in their manufactured home and to turn them into cash payments. Note that reverse mortgages are also known as Home Equity Conversion Mortgage (HECM).

One of the major perks of acquiring a reverse mortgage for manufactured houses is that the borrower will not have to repay the loan until he/she vacates or sells the home to another person. Reverse mortgages are one of the most popular and arguably the best choice for seniors with limited income who need assistance in paying the cost for health care services or help in covering their basic living expenses.

However, many seniors wonder whether reverse mortgages are a scam. Yet you must take note of the fact that reverse mortgages are actually a legitimate product that is offered by reputed banks and other lending institutions. In fact, such banks and lending institutions follow a number of regulations and rules in each reverse mortgage agreement.

Besides that, the manufactured homeowner will also have to meet several requirements and inspections for qualifying for a reverse mortgage. The Department of Housing and Urban Development (HUD), The Federal Housing Administration (FHA), and the moneylenders – all have their own specific set of rules and requirements, which you will have to meet for getting a reverse mortgage for your manufactured home. This implies that you will have to convince three different entities for acquiring a reverse mortgage for your home.

The Home Equity Conversion Mortgage Program (HECM) has put forward a general list of requirements that manufactured homeowners will have to meet for getting a reverse mortgage. Some of the requirements to become eligible for a manufactured home reverse mortgage are as follows.

  • Your manufactured home should have a HUD seal that is affixed on the exterior of the home.
  • Your manufactured house should be built after January 01, 1990.
  • It should be in its originally installed location.
  • It should have a minimum floor area of 800 square-feet
  • You must be the owner of the land where your home rests.
Common Misconceptions about Manufactured Homes

Common Misconceptions about Manufactured Homes

Manufactured Housing
Manufactured Homes Myths

Manufactured homes have completely altered the housing industry around the world. It has become the preferred housing alternative for many low-income homebuyers. This is due to the many benefits they offer to the buyer like lower costs, quicker factory-built construction, and durability. However, there are many misconceptions associated with the concept of manufactured housing that prevents many buyers from choosing to buy one. Given below are some of the common misconceptions about manufactured homes and the truth about them.

Look Alike

Identical looks and features are one of the most commonly misunderstood aspects of manufactured homes. Most buyers confuse such homes as cramped and devoid of comfortable spaces, unlike a traditional home. However, this is false as manufactured homes present itself a wide range of customization options in regards to its aesthetics and functionality.

All manufactured home builders offer a diverse collection of floor plans and other prominent customization options like roofing, kitchen cabinets, bathroom additions, etc. Relying on a manufactured housing option will provide the customers in choosing their preferred features, plan, and location to cater to their various living needs and lifestyle.

Poor Quality and Lack of Safety

Poor quality in construction is a highly misunderstood fact regarding manufactured homes. This is untrue, as all manufactured homes are built using the same construction materials as that employed in conventional homes. Furthermore, the factory-built construction of manufactured homes offers more quality and finish than what we get with a site-built home. In addition, the construction of manufactured homes is strictly regulated by the US Department of Housing and Urban Development.

In regards to the safety considerations, the construction of such homes abides by Manufactured Home Construction and Safety Standards. These regulations involve ensuring certain construction, durability, quality, energy efficiency, design, and many other performance standards.

Less Energy Efficient

Lack of energy efficiency is another thing that is clearly misunderstood about manufactured homes. However, this is untrue as well, since most of the modern manufactured houses allow for increased retrofitting, remodeling, and design for ensuring better energy efficiency than conventional homes. In addition to that, most manufactured home builders and installers have certified Energy Star ratings in their products for improved energy efficiency of these homes.

Value Reduction

Most buyers have wrong assumptions about the decreasing value of manufactured homes in resale. However, it is proven by many studies that such decrease or increase of a manufactured home is dependent on the same factors that affect the market value of conventional homes.