Whether you call them mobile homes or manufactured housing, everyone has heard stories of high winds and tornadoes destroying factory build homes. I new proposal from U.S. Representative Spencer Bachus, (R) from Alabama, may provide added safety for those living in these homes. Bachus has proposed legislation requiring weather alert radios to be installed in new manufactured homes.
Some manufactured housing groups are opposing the legislation saying that it is unfair to single out the industry. While the spring storms of 2011 destroyed all types of structures, Bachus believes that the addition of emergency weather radios cal give residents of mobile homes enough advanced warming to be able to seek shelter especially in the event of an approaching storm late at night. The advanced warning could allow sleeping residents to get their families to community shelters or to a home with a basement.
The cost is reported to be between $11 and $45 per radio. Bachus considers this cost insignificant when compared to the number of lives that could be saved by providing advanced notice of approaching violent weather.
The proposal has received bi-partisan support and will now be passed along to the Senate where it has been well-received in the past, but has failed to pass.
Bloomberg News reports Housing and Urban Development (HUD) Secretary Shaun Donovan says home prices may start to increase as early as the third quarter, as the rate of foreclosures decline. Speaking on CNN, Donovan says, “The real question is when will we start to see sustainable increases. Some think it will be as early as the end of this summer or this fall.” He says defaults are declining, and home sales have gone up in six of the last nine months. Lenders need to encourage home ownership so people can realize the value of their investment over time, not overnight.
July 11 (Bloomberg) — The Federal Reserve may keep interest rates at record lows for the longest period since World War II as the economic slowdown that sparked a four-month bond rally worsens, according to Treasury market signals.
This means that there has literally never been a better time to buy a new manufactured or modular home than now, before the housing prices rise. Centennial Homes has striven to keep our prices as low as possible while still providing the highest quality product and the best service in the industry. We encourage you to visit your local area model home center today and discover just how affordable our homes can be for you.
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Before buying a manufactured home, carefully consider the pros and cons of the design and floor plan.
Single-section mobile homes are made of one main unit; multi-section homes are made of two or more pieces joined together. Compare the floor plans of single-section and multi-section homes to help you determine how much room you need and what design best meets your needs.
Centennial Homes provides sales literature for all of our model homes. The literature often shows the home’s basic construction specifications, its features, and the variety of floor plans available.
Single-section and multi-section mobile homes come in a variety of sizes – with prices to match. In general, single-section homes are less expensive than double-section homes, which are less expensive than triple-section homes.
The average single-section home has about 1,100 square feet of living space and costs about $60,700.
The average double-section home has about 1,700 square feet of living space and costs about $85,100.
Select a Home Location
Before you select a home, decide whether you want to rent or own your land, and find a lot. If you own the land and place the home on a permanent foundation, you enjoy better financing options, and your home is more likely to appreciate in value.
* Beware zoning or restrictive covenants that limit your ability to place mobile homes on some private lots. Rental parks and some localities have restrictions on the size, type, and appearance of homes allowed in their communities. Your home will likely have higher resale value if its design fits in well with the neighborhood.
* If you do not buy land, be sure to examine all park rules and lease terms, including allowable rent increases. Some rental communities require you to move your home out of the community if it is a certain age at the time you decide to sell it. Some parks have specific rules relating to the landlord’s right of access to the inside of your home, behavior of children, use of clothes lines, parking and much more that might affect your decision to live there. It is important to be aware of these restrictions before purchasing a home.
When people think about buying a new manufactured or modular home one of the first questions many ask is; How much home can I afford? This is a very legitimate question and our years of experience have shown that without accurate information people usually make one of two common mistakes. They either buy too much home and find that making the monthly payments can be a real challenge. Other times, people buy too little home and later find that they have very quickly outgrown the home. In this article you will learn how to determine how much home you can afford.
Manufactured homes are often sold separately from the land on which they will be placed. When calculating how much home you can afford, you need to factor in the cost of the land or land rental.
If you purchase land be sure to include costs to prepare it for your home: clearance and grade work, a well or septic system, electrical and water connections, driveways, porches, landscaping, and more.
If you place the home in a park, these costs may be bundled into “park packages,” which pay for improvements such as driveways and carports for lots owned by the landlord. Don’t forget to factor in likely rent increases when budgeting this option.
Charges to transport the home from the factory and install it at its final destination may be included in the price of the home. If you buy a used homes sold in place, you will not incur these costs.
New mobile-home owners also shoulder long term costs that need to be factored into your budget: insurance, utilities, taxes, maintenance and repairs. Despite warranties, new mobile-home owners, like the owners of traditional homes can have significant out-of-pocket repair costs in the first years of ownership.
Compare the total cost of a manufactured home (not just the purchase price) to the cost of condos, houses, and apartments in your area. You will likely discover that even with some of the added costs, the cost of ownership of a manufactured or modular home is still well below that of any other housing option. Knowing all your options will also help you to negotiate the final price if you decide to buy a manufactured home.
If this is your first home, consider homeownership counseling. A mobile home is no less a commitment than a conventional home, and a counselor can help you prepare for the purchase process and the responsibilities of homeownership. Each Centennial Homes consultant has the training and experience to act as your guide in what can be a confusing process. When you visit one of our 8 model home centers, be sure to ask questions and your personal home consultant will be happy to provide you with enough information so you can be sure that you have purchased exactly the right home.
Click here to be connected to a professional home consultant in your area today.