Modular Homes California
With real estate prices soaring, modular homes California are proving to be a very affordable alternative to many. These homes are available in a variety of floor plans and built using various materials. Quality concerns are another factor influencing the popularity of modular homes California. In this state more than 60 percent of manufactured homes are eventually placed on lots in urban, suburban or rural neighborhoods. The state laws in California are perhaps the most flexible of all states regarding modular and manufactured homes. According to this, modular homes California can be placed on any residential lot as long as they meet local development standards.
Many owners of modular homes California lease the home sites from corporations who maintain the community and amenities that are provided. Land lease fees could be anywhere upwards of $250. Subdivisions are another area where modular homes California and manufactured homes can be found. Local laws state that all new manufactured homes must be sold by a licensed retailer or if in a subdivision by a licensed general contractor. Dealers of manufactured housing can also be found registered with the California Manufactured Housing Institute (CMHI). A few years ago people hesitated to buy modular homes due to concern over depreciation of real estate values.
But this notion has come to be dispelled paving the way for an improving market for modular homes California. Recent studies also support that the type of housing does not in any way affect the property value of the home or the surrounding homes and land. Studies indicate that the value of modular or manufactured homes is decided by the housing market where the home is located. Other factors influencing the home’s value include the original price of the home, the age and the condition it is in, and inflation.
When looking to buy insurance on your home, you will also need to run a check on the company you are thinking of approaching. Find out how much experience the company has in insuring manufactured and modular homes. Go through the various coverage options on offer and choose the one that suits you best. See if there are provisions for you to modify or upgrade your policy at a later stage should you feel the need to do so. Also make sure the company has a good track record of settling claims and dispersing compensation at the earliest.
Similar criteria should also be made use of when seeking financing for your purchase. Banks, mortgage brokers, credit unions and finance companies are some of the institutions that might be able to help you out in this. Asking friends and family who might have purchased modular homes is also a good way of ensuring you are getting everything right. Peace of mind is assured once you go through all these procedures and know that you have given it your best. If ever you encounter a problem that is covered under the warranty, be sure to address it at once and get in touch with the dealer and manufacturer immediately.