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Estimated Installation Cost: NOTE This is a price guide only. Actual costs will vary depending on specific site conditions and by region

The estimated installation cost includes the following*:

  • Setting the home that you selected onto your foundation or building pad (This assumes normal lot conditions and does not include any extra costs to maneuver the home to your building site or any crane rental fees)
  • Installing blocking or piers under the home and levelling the home with shims
  • Anchoring the home to your foundation with tornado and/or hurricane proof anchors
  • Insulating the marriage line and bolting the various sections of your home together at both the floor and roof lines (if there is more than one section)
  • Finishing roof venting and ridge cap shingles
  • Installing siding on the ends with house wrap (if you selected the house wrap option with your home order)
  • Installing soffit and fascia on the ends of the home for the complete exterior finish
  • Estimates to hook up to existing utilities (you will have to add the cost of a new septic, well, electrical service, and also driveway and etc as needed on your site)
  • Estimate to complete the inside trim and finish work

Notes:

Add for concrete If a concrete foundation (slab or crawl space) is required, add an estimate of $10 per Sq Ft of home to this price guide (if you don't have an actual quote)

Add for skirting (Not needed if home is on a crawl space)

Add for A/C if not an option included by your manufacturer

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Typical Investor funded projects

EXAMPLE # 1

 Project Cost                                                                $160,000

    Includes Land (40,000) + Home (90,000) + Home Installation (30.000)

LESS Buyer Down Payment                                           (20,000)

Balance                                                                         140,000

Management fee (10% of balance)                                14,000

Investor capital (70% of balance = 61% LTV)                 98,000

Home Nation capital (30% of balance)                          42,000

Net to Investor at Buyer’s loan closing in

approximately 90 - 120 days

(50% of Management fee)                                             $7,000

 

EXAMPLE #2

Project Cost(See VA loan pre approval here)                267,000

Less Buyer down payment                                             (1,000)

Management fee(@10%)                                               26,000

Investor capital (@70% = 63% LTV)                              187,000

Home Nation capital (@30%)                                         80,000

Net to Investor at loan closing in

approximately 90 - 120 days

(50% of Management fee)                                             $13,350

 

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AFFORDABLE HOUSING INVESTMENT PROSPECTUS

Please email Invest@HomeNation.com to request a prospectus of investment opportunities at Home Nation.  Regrettably, we are only permitted to offer our investments to accredited investors at this time.

You may also be asked to sign a NDA (Non Disclosure Agreement) and an AAI (Affidavit of Accredited Investor Status) form. 

 

Us
What Are Property Taxes On Manufactured Homes? - Home Nation

What Are Property Taxes On Manufactured Homes?

Property taxes can be confusing with any residential property. Rules and regulations for different cities, districts, regions, and home types can vary, making the process overly complicated and sometimes overwhelming. Manufactured homes come with their confusing nuances since individuals own the home but not necessarily the property on which their home resides. Additionally, there are tax considerations for the house itself and any utility hookups. This guide can help make the concept of manufactured home taxation a little less confusing to ensure you consider all costs that you may incur.

 

Related: How Much Does A New Mobile Home Cost?

Paying Taxes On Land That You Don’t Own

Many individuals with manufactured homes will end up renting land from a park or an individual. Thus, you own your home, but not the land on which it resides. In this case, taxes are typically included with the cost of property rent. The landowner will then typically pay the property taxes. If the manufactured home is financed, the lender will generally verify this arrangement.

 

That said, if the landowner is responsible for paying the property taxes and the taxes aren’t paid, your home could become subject to tax sale. To combat this possibility, it’s a good idea to verify with the relevant taxing authority that property taxes are actually being paid. Furthermore, even though the landowner may be responsible for paying the property taxes, the taxes may be escrowed into your monthly mortgage payment. This will ultimately depend upon the lender you chose to finance your manufactured home.

 

Do you own or are you looking to buy a mobile home? Feeling overwhelmed about the process? Look no further than Home Nation!

Property Taxes

The purpose of property taxes is to provide funding for local initiatives such as public safety, infrastructure, and education. Any individual that owns the property is taxed. The taxation rate typically stems from the value of the land that is owned. Sometimes this will come in addition to the value of the home itself. Tax rates will ultimately depend on the state that the individual resides. If you own the home and the property that the home is on, you’ll most certainly be paying taxes for both. Individuals that own the house but not the property will ultimately depend on the state in which the individual resides.

 

When the manufactured home is placed on land that you own, your financial lender will most likely require or offer an escrow for the taxes. In this situation, a portion of the property taxes will be paid each month into a mortgage escrow account. Your lender will then pay the taxes from the escrow account when they are due. When your home is placed on land you do not own (such as in the case of individuals living in a mobile community), taxes will depend on the state and district in which you reside: some states require taxes to be paid by the landowner, others require payment by the homeowner.

 

 

Related: How To Increase The Value Of Your Mobile Home

How Taxes Are Assessed

The calculation of property tax amounts is typically determined by your property’s assessed value in addition to the tax rate of the taxing authority. The valuation is based upon a tax assessor’s estimation of the market value of your home. Market value can be determined by several mechanisms such as sales comparisons, cost methods, or income methods. You can check with your local tax assessor’s office to determine how taxes are assessed in your area of residence.

 

The property tax amount is generally calculated off the value of the home and property combined. This may also vary depending on the state and county in which you reside. Some localities will separate property tax into two separate bills: one for the property itself and another for the home. In this case, the homeowner would only be responsible for covering the home-related property tax. Once again, each area has its own rules and regulations, so you should be sure to check in with your local taxing authority to see if it’s possible to tax your home separate from the value of the property.

 

Separating the physical property tax cost from the home property tax can be one way to save you tax dollars. That said, you may be eligible for even more tax deductions! These deductions could include a reduction in tax rate or a full exemption from property taxes outright. As a useful money-saving tip, you should contact your local tax office or appraisal district to see which deductions you may be able to qualify. After all, who doesn’t love to save money?

Related: Do Mobile Homes Appreciate In Value? The Answer May Surprise You

Getting Started With Home Nation

At Home Nation, our dedicated team helps to offer you brand new manufactured homes nationwide, at a fraction of the price you’ll find anywhere else. We provide an all-inclusive service that allows our clients to enter the manufactured home-buying process without any stress. Our services include assisting with financing, locating the right home for you, selecting a home within your budget, and helping to guide you through the costs and steps associated with the installation process. Our process ensures that you’ll get the best price for the manufactured home installed on your lot. Give us a call today to consult on the many aspects of your home searching process that our team can help assist!

 

Are you seeking assistance with the many moving parts of purchasing a manufactured home? Home Nation has a devoted team of experts to make the process easy and stress-free.

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