The Home Buying Process
Manufactured Home Communities
As you shop for a new home and decide what type of community you want to live in, explore living in a manufactured home community. Today's manufactured homes provide durable, state-of-the-art housing with custom features and options at prices you can afford. Today's manufactured home communities are well planned, attractive, and secure, offering a wide array of services and amenities.
Many people don't understand the financial benefits that can be realized from leasing land while owning their own home. When you live in a land-lease manufactured home community, you purchase your home but lease the land where your home is located. When homebuyers make their housing purchase with land costs included, their total housing costs increase significantly. When purchasing your home, but leasing the land your home is sited on in a manufactured home community, your initial dollar investment is much lower. This lower initial investment puts more money in your budget each month to either save, cover living expenses, or to give you some of the extras you want and need. If you invested your savings, the earnings could offset the rent you pay on your homesite, further reducing your monthly expenses. You could decide to make use of your monthly savings in numerous ways. You may initially wish to buy a bigger home since land costs are not included in your home purchase. You may decide to take more vacations or buy that boat you have always wanted. Another financial benefit of living in a manufactured home community involves real estate taxes. When leasing land, real estate taxes are paid by the community owner and are included in the monthly land rent. The individual homeowner only pays taxes on the value of his or her home, usually in the form of personal property tax.
Many manufactured home communities offer lawn maintenance, pools, clubhouses, cable television, storage facilities for RV's and boats, and playgrounds. They also have the staff to keep things in shape, freeing the homeowner from many of these chores. The services found in your manufactured home community are usually included in the rent for your homesite.
Manufactured home communities can provide you with the secure living environment you are looking for. The manufactured home community is the original gated community. Many have only one point of entry and exit. Some have security guards that ensure only residents and their guests have access to the community. Some communities provide security forces that constantly patrol the community to ensure resident safety. Plus, neighbors look out for each other, forming a full-time, caring, unofficial crime watch, so to speak. Residents can leave their homes for days or weeks without worrying about its security.
Professional managers for the community ensure that the common areas, homes and homesites are attractive and properly maintained. They ensure that the pool is operational, the snow is removed and the trash is collected. The owner of a manufactured home community wants to keep the community in "tip-top" condition to keep you as a resident and attract new residents. This professional management helps you protect your home investment.
When you want to sell your home, you may find the resale of your home in a manufactured home community is quicker and easier than in a traditional subdivision. The price of your home will be more competitive than homes similar in size with land included. The amenities of your community will help sell your home as well. Three things mostly determine resale value: the condition of your home, the location of the community, and the condition of the community. In a manufactured home community, the management helps you enhance the value of your investment by maintaining the overall community.