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The Five Traps Most Homeownersand Aspiring Buyers Fall Into Today
Homeownership is not something to be taken lightly in todays housing market
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Electrical system malfunctions andheating fires are the leading causes offire in both factory and site-built homes
The 2 nd leading cause of structural fires inboth home types is mechanical failures
Studies indicate that almost all fires arerelated to human carelessness
Source: Live Safely in your Manufactured Home. U.S. Fire Administration, March 2006. Are manufactured homes more vulnerable to fire?, Manufactured HousingInstitute 2011
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Source: 11 Reasons Why I Never Want To Own A House Again, Kelly Phillips, Forbes, www.forbes.com, 2013; Six Hidden Costs Homeowners Need To Be Aware Of, Business Insider, 2012
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Homeowners often fixate on twonumbers : the purchase price andthe selling price, but forget toaccount for all of the money spent
in between.
Property Taxes Insurance Repairs Maintenance
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True value and quality aremeasured in time
44% of luxury home consumers
agree that luxury is havingenough time to do whatever youwant and being able to afford it
Time affluent people are happierbecause they have more time toentertain friends and family intheir homes
Source: Time Element, Market Watch, July 24, 2007. Making the Most of the Money You Have, Yahoo! Finance, January 19, 2007
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Source: Cutting Costs with Modular Construction, NuWire Investor, September 5, 2007. Modular Homes Offer Alternative To Stick-Built Housing, Realty Times, December21, 2001
0
50
100
150
200
250
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350
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Factory Site
Min Time
Max Time
A factory built homecan be built in2-6 weeks
At the extreme end,site-built homesrange from 180 to
540 days
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Whats the cost? Over a 10-year period,
2 system failures a year willcost approximately $20,000 !
Are you prepared to pay for these
failures if your warranty doesntcover them?
Source: Average Annual Home Maintenance Cost, Home Maintenance, January 29, 2010
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Factory built homewarranties generallyexceed a site-builthome warranty withfewer complaints
Source: Manufactured Housing: A Misunderstood Real Estate Market, Journal of Business & Economics Research, May 2006
Factory built homes have a:
Standard 1-year warranty on basic plumbing, lightfixture, appliances and cosmetic defects
5-year warranty on internal and externalwalls, electrical systems, plumbing systems and
the chassis frame
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Home building contractors rankamong the top 6% for complaintsto the Better Business Bureau (BBB)
Source: Sorted by Industry US BBB 2009 Statistics Better Business Bureau, 3/5/10.
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$- $50,000 $100,000 $150,000 $200,000 $250,000
WaterfrontGated
Public TransportWater close
Shopping 1 mileWalking trails
StandardRoads need repairHeavy street noise
LitterBuildings with bars
Abandoned
$231,000$188,000$187,600
$184,500$182,000$180,000
$176,400$173,000$172,000
$171,000$169,000
$159,600
Property Values
Source: How Features of a Home Impact Its Price, National Institute of Home Builders, November 30, 2004
Its all about locationlocationlocation
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What is essential toaccommodate your needs? Budget for house payment Number of bedrooms Number of bathrooms Size and layout of your kitchen Home work space Room to entertain
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What have you alwayswanted in your dream home? Corian countertops
Hardwood floors Plush carpet Tile Customized floor plan Front porch Custom kitchen
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Factory built homes provideluxury, quality, and are affordable
According to a study, 93% of factory built homeownersare satisfied with their choice
Only 70% of regular site homebuyers say they are satisfied withthe quality of their new home
Thats a 27% difference !
Source: Customer Satisfaction, Manufactured Housing Institute, 2011. Most new-build home buyers 'satisfied', SmartNewHomes.com, 24 April 2008
93%Satisfied
Factory built homeowners
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Myth buster #1
Factory built homes ARE energy efficient
In 1994 a new minimum energyconservation standard became effective,which resulted in lower monthly energy bills
Factory industry officials agree thisenhances the affordability of factory builthousing and, perhaps, improves mortgageunderwriting terms
Source: Energy Efficiency, www.homesplus1.com, 2010
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Factory built homes ARE just as safe assite-built homes
A national fire safety study showed thatsite-built homes are more than twice aslikely to experience a fire than a factorybuilt home
Source: Are manufactured homes more vulnerable to fire?, Manufactured Housing Institute, 2011.
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Factory built homes ARE safeduring severe weather.
Excellent quality, higher standardsand approved safety of materialshelp make todays factory builthomes match up with site builthomes.
Todays factory built homes are
engineered and built to withstandhigh winds to the same levels as asite built home.
Source: Not Your Grandfathers Trailer, Louisiana Manufactured Housing Association
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Qualities to look for in a homebuilder
Understands the value of time! Gives you customization options
Ensures quality checkpoints
such as home audit tests andinspections that cover morethan the basics
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Has longevity and years ofexperience within the industry
Provides turnkey solutions from A-Zin the home buying process
Maintains those turnkey solutions
Provides a home warranty andrecourse that you can understandand trust
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Please call
1-800-892-5978or visitwww.homesplus1.com
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