With hurricanes coming in regularly, disaster recovery in hard hit areas is being helped by the construction of modular homes. These homes are durable and low cost. They can withstand the forces of nature much better.
System built homes or modular homes are quite different from mobile homes. They are now being understood as quite superior to mobile homes because of their durability, energy efficiency and quick construction.
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The Blue Book value of mobile homes is a numerical value found in one book. Earlier there were many books for this purpose, today there is just one – the NADA Manufactured Housing Appraisal Guide. Professionals use this guide to find out the value of a manufactured or mobile home.
There are various rating parameters that are used to calculate a mobile home’s Blue Book value. These are model and size of home, age, geographical location and make. It is a good idea to get a professional appraisal even if you have this book at your disposal. The reason for this is that the formula for determining book value can be so complicated that it is easy for the layman to make errors.
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Perhaps you did not know that mobile homes can appreciate in value as well. Mobile homes that are attached to fixed foundations appreciate with the years. The value of the home will be much greater that the purchase price after you have paid the mortgage for a few years. This difference between the appraisal value of the home and the mortgage value is mobile home equity.
Mobile home equity grows as the years go by. The owner of the mobile home also owns the equity, which is a financial asset. This can be used to borrow more money as a collateral. Mobile home equity loans can take a value of 85% to 100% of the built up equity value. This also depends on the lender’s policy and the borrower’s credit score.
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After purchasing your mobile home, the next step is to place it somewhere safe and somewhere near the area you work in. However, what if you still don’t own a piece of real estate property? The best choice that you have is to temporarily situate your mobile home in a mobile home park. You will see that there are different kinds of mobile home parks available. There will be mobile home parks for seniors, and there will also be mobile home parks for families as well as single individuals.
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If you need repairs on your mobile home or want to make improvements, you’ll often need more money than you have. Maybe you have lots of money socked away in a savings account, and if so, then this article probably won’t be of much help to you. But if you’re one of the many people who need to make mobile home repairs and just aren’t sure how to get the money you need, read on. You’ll learn three ways to pay for mobile home repairs — which way you decide to go with depends on your financial situation and personal preferences.
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If you’ve decided to buy or rent a mobile home, congratulations! Many of today’s mobile homes are spacious and luxurious, not to mention affordable. You can find roomy mobile homes with wall to wall carpeting, central heating and air, and even whirlpool tubs. After you’ve chosen the perfect mobile home, you’ll need to decide where to put it.
Some mobile homes are already located on lots or in parks, others will need to be moved. Regardless, it’s important to choose the right mobile home park to ensure a peaceful and happy living experience.
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If you’re in the market for a used mobile home but don’t know where to start, this article can help you. The great thing about mobile homes is their versatility and the fact they can be transported to anywhere you need them to be. There are many places where you can obtain great deals on used mobile homes, if you know where to look!
First and foremost, check the classifieds section of your local newspaper. Often, owners of mobile homes that want to sell them will use the classifieds as their means of advertisement. If you don’t see anything you’re interested in featured in the newspaper classifieds, don’t worry. There are lots of other places you can look.
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People often confuse among the different kinds of homes. So A Mobile home might be called a modular home and vice versa. Similarly there are other kinds of homes like panelized homes and kit homes. Let us discuss the points which distinguish these kinds of homes from one another.
Modular homes are constructed in factories in accordance with the UBC or Uniform Building Code that is also followed in the case of site built homes. They are then transported to the place where the home is to stand. Here the modular home is attached to the foundation.
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There are many types of loans that can be used to purchase a Mobile Home. These could be personal loans, chattel loans or mortgage loans. Sometimes monthly payments become a burden. Sometimes the person may want to repay the loan sooner or improve the terms and conditions of the loan due to improved credit. The answer is refinancing.
Mobile home loan refinancing is tougher than home loan refinancing. One reason for this is that mobile homes reduce in value over time. Refinancing different financial loans has different costs…some are easier to refinance. Both mortgage loans and chattel loans are relatively difficult to refinance.
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If you’re planning on purchasing a mobile home, you will probably need to obtain a mobile home loan. A loan will allow you to purchase the home you desire in an affordable way. Obtaining a mobile home loan is quite similar to getting a loan for a regular house. Let’s take a look at what a mobile home loan may involve and how to choose the best type of loan for your individual needs.
It’s important to look for the lowest rates possible when seeking a mobile home loan. Housing rates fluctuate depending on the market, and choosing to buy when the rates are low will mean that you can obtain a loan that’s affordable. What your rates will be will depend on the type of loan you get, where you get it from, the value of your mobile home and the lender you obtain the loan from.
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Just like any other home, you will need insurance for your mobile home. Sometimes, obtaining the right coverage can be a real hassle, which is why it pays to be as knowledgeable and prepared as possible. Here we’ve gathered some mobile home insurance tips to help you with the process.
Comparison shopping is one of the most important things you can do when it comes to obtaining the best insurance at the most attractive price. You’ll want to contact several different insurance companies and compare the rates from each one before making a final decision. You can even do much of your comparison shopping online, thanks to the Internet!
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If you’re interested in buying a used mobile home, it’s important to do your research and become as informed as possible about not only the buying process but mobile homes in general. This article will teach you more about how to buy used mobile homes so that you’ll be more prepared before you start shopping.
A mobile home is defined as a factory built structure that is able to be moved from place to place. These days, people use the term mobile home to also describe manufactured homes as well. Mobile homes are often placed in mobile home parks, and although this is often a permanent arrangement the homes can be transported to another location if necessary. All mobile homes built for single families must adhere to stringent guidelines as developed by HUD, or Housing and Urban Development.
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Home is where the heart is. Many celebrities are wandering hearts and often choose mobile homes. They are termed as recreational vehicles and have helped make successful road trips by the plenty.
Some stars even have names for their favorite vehicle. Mathew McConaghey calls his mobile home “canoe.” He really loves it. The vehicle is an airstream trailer which is often parked in Malibu near the coast. The vehicle takes him around the United States. As he travels the press has a field day.
Even Drew Barrymore spent a month in a recreational vehicle. She took a trip across the country in 2009. She found it the most engaging experience she has ever had. This, inspite of driving problems.
A wildfire burned homes in Malibu in 1993. At this time Sean Penn also lost his mansion. Penn did it the smart way. He pulled an Airstream Soveriegn into his estate and used it as a home till his mansion was reconstructed. He used the mobile home for a few years.
Dolly Parton is another celebrity who has used a mobile home. She uses a RV to tour. Her RV is luxurious with a vanity mirror, shower and celebrity comforts. Pamela Anderson also owns an RV with a pole, vibrating bed and a mirror ball.
So thats how celebrities do it in a mobile home. For regular users, a mobile home still works. It has benefits that cannot be measured. It helps to know that you are in good company as a mobile home user.
Like in most businesses, traditional thinking does not always give the highest yields. In the business of investments, likewise, thinking different does have its benefits. Many people find that their most profitable income from investments comes from old mobile homes. When you see a 14 year old mobile home, that looks like a piece of history, you may be just looking at a bright future.
There is money hidden in old mobile homes. There are tons of instances of people buying old mobile homes for $2,800. They then spend another $500 on advertising and minor repairs. Once that is done you find that people would be willing to spend upwards of $6000 to buy it from you. That $6000 is affordable to them because you, the seller are willing to give it to them through a small down payment and a regular monthly payment.
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Mobile homes have become popular in recent years. They are now being seen as a great alternative to traditional housing and not without good reasons. You get more space for the same money with mobile homes. They are more peaceful than apartments and even appreciate in equity.
If you want to buy a mobile home there are a series of decisions you need to make along the way. The first is whether you are going to buy a new mobile home or a used one. If you have the budget for it, a new home may be right for you since it would be low on maintenance and repairs. Choosing a used home must be done carefully specially if it is a pre-1976 home that was built before the HUD standards came into place.
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There are a number of ways you can go about purchasing your new mobile home. How you do it depends on your income, credit and down payment. Let us go through some of the options.
If you have a good amount of credit, then you can get a normal loan and start with your bank used for checking and savings. In this way the best interest rate coupled with the lowest fees can be availed of. The payment can be made easily at the bank.
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Rotten and damaged floors are a major issue in mobile homes. Floors need to be maintained and repaired. In older homes this is a bigger problem due to particle board. Particle board disintegrates when wet. Now building standards for mobile homes are higher than was the case previously.
For flooring, you need 2 by 4 pieces, plywood, screw gun, hammer and nails, pry bar and circular saw. The thickness of plywood used must depend on the floor.
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There is a science that says that the way space is arranged affects the people living in that space. One branch of this science is Feng Shui. This ancient system is still in use in modern times around the world to better living environments.
As astrology is to the human, feng shui is to architecture. Feng shui takes into account the orientation of the house. The best part of feng shui is that it gives you remedies which will correct an unbalanced environment thus making it good for health, relationships as well as the finances.
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Many people prefer mobile homes because of their utility and cost efficiency. Nowadays the market offers a variety of loans for financing the requirements of the buyers. In an interest only mortgage repayment, only the interest has to be repaid over a set period of time. The principal can be repaid based on the lenders choice.
Interest only loans have become hugely popular in recent times. The observation is that the interest only option is attached to adjustable rate mortgages. As a result the popularity of interest only loans has skyrocketed.
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There are 5 problems that can arise when buying an old mobile home. These are – whether the foundation level is sound, roof leaks, plumbing leaks, electrical issues, termites and dry rot. Although all this seems basic, checking for these issues when buying an older mobile home is essential because they can lead to disastrous problems if unchecked.
Check the home from outside for cracks or shifting. From inside the doors and cabinets must close easily. if they don’t then the home might need a re-levelling. Inspect the piers under the home as well. They may need replacement if damaged.
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