What is the difference between a manufactured home and a modular home?
While both manufactured homes and modular homes are built in a factory environment, there are some differences between the two. The main source of difference between modular and manufactured homes is the code to which they are built. Manufactured homes are built to a federal HUD code, while modular homes are built to state or local residential building codes.
What is a land lease community?
A land lease community is one where you own your home and lease the land. Most manufactured home communities in the U.S. are land lease communities.
Are pets allowed at communities?
Most communities are pet-friendly and each community has guidelines regarding pets.
Is there financing available for Manufactured Homes?
Manufactured home communities have lenders they can recommend. Upon selecting a home, sales advisors can help you secure the right mortgage for you and your new home.
What kind of features can I get in a manufactured or modular home?
MH manufacturers offer features including numerous floor covering options, vaulted ceilings, contemporary master bathrooms, state-of-the-art kitchens with stainless steel appliances, custom cabinetry, storage shed, bay windows and porches just to name a few.
What fees can I expect to pay as a resident of a manufactured housing community?
Some of the typical fees associated with living in a manufactured housing community include site rent, utilities such as water, sewer, electric and gas, trash collection and cable television service.
What are the benefits of a land lease over purchasing land for a manufactured home?
In an effort to help our customers make this decision we have outlined the advantages of a land lease below:
- Financial Retention — Retirees looking to retain savings appreciate the safety net that the land lease provides. Homeowners in a manufactured home community are free to invest the money they would have otherwise spent on land in other ventures, and are able to have a more flexible savings program.
- Lower Cost — A home in manufactured home community tends to fall below the market value of other comparable homes. Your monthly mortgage payment will also be less than when you own the land.
- Low or no property taxes – Since you don’t own the land, you will save when it comes to property taxes.
- Pride of Ownership — The community owner has a vested interest in maintaining the grounds and the desirability of the community. This provides built-in protection for the homeowner for their investment in the home.
- Sense of Community — Community living offers individuals an opportunity to share common interests among those living in their neighborhood. An abundance of activities and resort-style amenities combine to offer residents a fabulous lifestyle.
Who are some of the manufacturers that build manufactured homes?
Some of the top manufacturers in manufactured home industry include Skyline Homes, Champion Homes, Schult Homes and Cavco.
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