LET’S TALK ABOUT SOME OF THESE IMPORTANT FACTORS.
TRANSPORTATION: A good location is worth a lot to you. The average homeowner is a two-car family making three round trips a day to their home. If the community you choose is only 5 miles farther away than the community you really like, you will travel an average of at least 30 extra miles per day. Your out-of-pocket cost will be about $15.00 per day in gas and repairs. By the end of the month you might well spend an extra $450.00 to get you to that “less-expensive” location.
CONVENIENCE: How about the convenience of a good location. Think about all the times you need to run to a store or grab a quick meal or catch a movie. When you move into a community that has a fine location, getting to work is easier, running errands is easier — in short, just about everything you do, you do more quickly, easily, and for less cost.
RESALE VALUE OF YOUR HOME: There comes a time when everyone moves along and needs to sell their home. Manufactured homes are no different than any other type of housing. If you have a beautiful home located in an undesirable community, you will not get the same price as you would for that home if it is located in a beautiful community that offers location, amenities, and convenience. That price difference can mean many thousands of dollars to you when you go to sell. The difference in resale alone will more than pay for any difference in rent.
LIFESTYLE: Let’s talk about what you’re really looking for when you choose a home and a community to put it in — YOUR LIFESTYLE. A good-quality community should have location for convenience, be well-maintained for higher resale values, and offer you a better lifestyle every day that you live there. Call it pride of ownership, call it liking a nice place to come home to every night, call it being proud of the place you live when you bring friends or relatives home. What it adds up to is that a good quality community should give you all of these things. Can you place a dollar value on all of those things? Having a swimming pool and club building to enjoy and meet your neighbors to spend an afternoon can hardly be measured in dollars alone.
SO WHAT’S THE REAL COST? Most quality communities only cost about a dollar a day or so more than their competition, but look what you get and weigh the real cash savings plus the higher resale value and soon you discover that moving into a high-quality, well-located community really doesn’t cost more at all — in fact, it saves.
MANUFACTURED HOMES DEPRECIATE?
Don’t You Believe Those Stories!!!
Here are some facts about manufactured homes that may surprise many:
- Manufactured homes tend to hold or increase in value.
- Location is the main factor in determining whether they appreciate or depreciate just as with all other real estate.
The quality of today’s manufactured homes is essentially equivalent to that of convention site-built homes.
These three statements are the findings of a recent study by the University of Michigan. The study, which was conducted by the university’s College of Architecture and Urban Planning, found that modern manufactured homes tend to increase in value. The determining factors, the report said, were the same that affect other real estate — mainly “location, location, location.
The research also found that the quality of modern manufactured homes has improved to the point of being “essentially equivalent” to conventional site-built homes. It attributed this to consumer demand and to the federal building code and enforcement system, which was instituted in 1976. To determine whether manufactured homes retain their value the University of Michigan research team analyzed the prices of 20,000 new and pre-owned manufactured homes sold in Michigan.
The University of Michigan study findings are significant because, historically, manufactured homes have been regarded, inaccurately, not as real estate, but as personal property. Depreciation, thought to be inevitable, was proven to be an inaccurate and outdated stereotype.
The Michigan study also found that the quality of manufactured homes has become “essentially equivalent” to site-built homes. The HUD Code, the Federal building standard to which manufactured homes are built, was compared to the BOCA Code, the standard to which site-built homes in Michigan and most of the northeast states are built. “The two codes are shown to be very similar, and in a number of cases, the HUD Code is more restrictive,” the report says.
The University of Michigan study showed that old stereotypes about manufactured homes are based on inaccurate and outdated information. Today’s manufactured homes offer a unique combination of quality, value, and affordability.
(May issue of the Missouri Manufactured Housing Institute)
AVERAGE USEFUL LIFE OF MH EXCEEDS 55 YRS., STUDY FINDS
The popular notion that manufactured homes are short-lived, “temporary” dwellings received a knock-out punch in a recently released study conducted at the University of Georgia.
Dr. Carol Meeks, professor and head of the Department of Housing and Consumer Economics at the university, found that 84 percent of the 10.7 million factory-built homes shipped between 1945 and 1994 were still in use. She estimated that the average manufactured home occupied the year round should last 55.8 years, which is 22 years longer than previously forecasted.
The new study took into account seasonal and vacant homes as well as those occupied the year round. Of the 9 million homes currently sited, more than 8 million were occupied the year round, Meeks found. Another 695,000 homes were occupied seasonally and 630,000 were vacant.
In 1991, the American Housing Survey (AHS) estimated that there were only 7.4 million manufactured homes that were currently sited. According to MHI, AHS missed about 25 percent of the new homes then sited, due to insufficient data collection by the Bureau of the Census.
A key factor in the growing acceptance of manufactured housing is affordability. At an average cost of $41,100, it is clear why a manufactured home is much more affordable than a site-built home at an average cost of $132,150 (excluding land price).
Today’s manufactured home offers the homebuyer quality, value, flexibility in choosing floor plans and designs, and many more benefits at an affordable price. In addition, manufactured homes are required to meet the strict HUD Codes, including requirements for energy efficiency, which are designed to make sure that the homebuyers have the lowest possible energy costs balanced with the best value in their home purchase.
It is easy to see why the use of manufactured housing is growing so rapidly and makes good economic sense!
So pay us a visit. You’ll find a home at Eldorado for you and for your most important investment.