Everything You Need To Know Before Buying a Mobile Home

Mobile homes have an unfair reputation for being low quality or trashy. That just isn’t true. A mobile home is a great way to get your own property, place it anywhere you choose and for less than many more stationary houses tend to cost. It is becoming an increasingly popular option, with variations such as tiny homes and mini cottages becoming a darling of the real estate world.

If you are reading this you are probably considering making a purchase yourself. Before you go shopping for the perfect little place of your own, here are some things you should know.

There Are Many Kinds of Mobile Homes

Mobile homes are not all the same single level family affair that you may be used to. There are multiple styles and types, as the couple mentioned above prove. Tiny houses are miniature homes that attempt to utilize every inch of space, all in a very small package. Mini cottages are similar, though usually one room wood houses with lofts.

There are also multi-level mobile homes. These are less portable, which makes them a mixed bag. But if you are looking to get a manufactured home and you aren’t concerned with being able to move it quite as easily it is definitely a good option.

If portability is your goal there are models that come on wheels, which can be either kept on at all times or slipped under with some tools.

The Cost of Mobile Homes Can Vary Wildly

With so many mobile home styles it probably won’t surprise you that these dwellings don’t come in a standard price range. According to Forbes, the average cost of a tiny house is around $23,000. But the average cost of a single story mobile home is around $64,000. Multi-level manufactured homes can vary, but you can assume between $50 and $100 per square foot.

The varying prices is one reason that it is important to know what it is you are looking for in a home. You should also consider other costs that are associated with your house. The land that you are building it on, for example, or the hook up costs for electricity, plumbing, gas, etc. These may not be built into the price and so require additional installation and fees.

Quality Is a Factor

Not all mobile homes are created equal. In fact, going to the wrong provider can end in some serious headaches. A major storm can topple it over or damage can be done to the exterior, pieces can fall off, etc. It is critical that you find a reputable dealer or construction crew to help you find the right mobile home.

You are looking for quality materials, designs and reputable reviews for who you work with. If you find all three you will wind up with a beautiful, sturdy home.

Manufactured or Prefabricated Homes Are Awesome

These style of houses are fantastic. Not only are they lower cost than from scratch models, but they are easier and faster to put up. A crew as small as two people can construct a manufactured or prefabricated mobile home, using pretty basic tools. Sometimes it can be done in as little as an afternoon.

That is because the pieces are already put together and ready to combine. They have been shipped from the factory with everything needed, to the location you specify. So the people putting it up just have to go through and hook all the parts, from the walls and foundation to the different compartmentalized rooms and features.

Getting a Loan Can Be Tricky

When you are getting a mortgage you go to a bank, right? Most mobile homes won’t qualify under mortgage programs. Instead you have to either go through an official mobile home company that specializes in financing, or you have to go through a credit union that has a loan specifically for this style of house.

The idea is that mobile homes are portable and many people mistake that to mean temporary. They are also lower cost, so there is less profit gained through interest rates. Many banks don’t see the point of funding them.

Thankfully, it isn’t hard to get a loan from one of these specified places. If you have an account with a credit union it is all the better, as that improves your odds of approval and they often have competitive rates.

Location Is Everything

You could have a gorgeous, well crafted, amazing mobile home. But if it is sitting on an ugly lot in the middle of a crowded area, what good it is? You want a location that is central to what you need, but still pretty, functional and offers you whatever you are looking for. Some people choose mobile parks in order to have a neighborhood feel. Others choose more isolated locations where they can enjoy a plot of land.

Whatever works for you, location is a pretty important part of buying your mobile home. It is also a good chunk of what you will be paying for. Renting land is possible, such as in mobile parks. But buying your own ensures you have greater equity in your property. It is a sound investment, even if you plan on uprooting and moving somewhere else. Land is also cheaper than you might expect, depending on the area.

Retail Cost Versus Invoice Cost

Once you know what you are looking for and where you are going, it is time to go to a reputable dealer. When dealing with closing costs make sure you ask to see the invoice cost of the property. If they resist, insist on it or possible go to someone else. This is a better representation of cost without inflation that can come from retail markups.

Don’t let them corner you into telling your budget or what you can pay monthly. Just have them give you flat invoice prices for a described model and then negotiate based off of that price.

The Home Based Business Explosion Is Upon Us!

INTRODUCTION

Perhaps I should start by asking the question “What is a Home Based Business? This is any business operated from the comfort of the residential home of the owner.

The next question is who is a Home Based Business owner? This refers to an Entrepreneur who decides to run his business from the comfort of his home.

I decided to clarify these terms because there is a huge difference between a Home Based Business owner and a Home worker who might be working with a government/private organization but decides to be working from home once or twice during the week.

Evolution of Home based Business

Many businesses operated from home usually start as a Micro or Small Enterprise. Some eventually metamorphose into Medium Scale Enterprise and others eventually grow into quite large companies.

The desire by Entrepreneurs to start operating businesses from home actually started in the 1980s. During this period, a lot of things combined to precipitate this massive desire by people to own Home based businesses.

In the main, the combination of many factors like socio- economic change, improved technology and new management thinking resulted in the loss of otherwise permanent paid employment and this encouraged people to attempt to revalidate their freedom by opting to set up a business at home.

The advent of new management thinking and theories like downsizing to make an organization Lean and more agile and efficient created fears in the mind of the average worker

So mass lay- offs helped create the right environment for some workers to go it alone and set up a Home based business.

The period of late 1990 to 2010 can be appropriately described as the period of massive explosion in the establishment of businesses at home. The use of Computer, Internet and Mobile Technology helped in the growth of this idea.

I strongly believe the idea of setting up business at home will continue to be positive and will remain so for a long time.

The continued upsurge in the desire of people to own businesses has attracted the attention of Universities and other higher institutions. They have responded by introducing different courses and programs on Entrepreneurial studies to cater for these needs.

Unlike earlier belief that businesses run from home are not well managed and don’t make good money, the present situation is that many Entrepreneurs motivated to set up business at home now have college degrees including a lot of high level professionals with business exposure.

The entrepreneurial spirit is innate in all of us and we only need to be adequately motivated to take the necessary action.

It’s really an exciting world out there.

THE HOME BASED BUSINESS EXPLOSION

As stated earlier, though the crave for running businesses from home started way back in the 1980s, what can be termed the explosion of this way of doing business was between the late 1990s and the first decade of the new millennium.(2010+)

This coincided with the time when the setting up of a Home based business became a Fad. According to Mr Lewis of the National Association of Home Based Businesses, Home based business in the United States grew from about 6 million in 1984 to 23 million by 2007.

With the help of modern technology like computers, mobile phones, printers and the huge power of the internet, more work is being done virtually than ever before and more global businesses are routinely being run from home.

According to the 2012 GEM report, 69 percent of American entrepreneurs start their business at home from either a spare room in the house, the dining table or from the garage. The report further revealed that more than 50 percent of entrepreneurs continue to operate from home even after the business has taken off successfully and stabilized.

Again according to Mr. Lewis of the National Association of Home Based Businesses, his own companies do training in 20 countries, import eyeglass frames from China and also develop condominiums.

Mr. Nuyten of the Home Based Business Statistics in America quoted the following statistics as at 2012:

38 million Businesses were operating from residential homes in America

A new business is started from home every 12 seconds in the United States

The Home Based Business sector in the United States earned Four Hundred and Twenty Seven billion dollars.

It revealed that 70 percent of Americans would like to be self- employed.

Entrepreneurship has become entrenched in the psyche of the average person. The Baylor University study of 2005 revealed then that more than 5 million jobs had been lost in Fortune 500 companies since 1980 while 34 million were created in small businesses.

The United States Census Bureau data of October 2012, also revealed that the number of businesses being operated from home have been on the rise since 1999.

The United Kingdom Experience

The continued growth in the Home based business sector appears to be a global phenomenon as the report from the United Kingdom will show shortly.

The United Kingdom department of Business, Innovation and Skills released a report titled ” Backing for Home Business” which revealed that 2.9 million home based businesses in the United Kingdom contributed 300 billion pounds sterling to the UK economy. The report also stated that 70 percent of all new businesses in the United Kingdom started from home.

According to Home Business report compiled by Enterprise Nation, 1,400 new businesses are started from home each week.

This report also confirmed that out of a total of 4.5 million small and medium enterprises, 2.1 million are Home based businesses.

Factors contributing to the growth of Home Based Businesses

There are many factors motivating people to set up Home based businesses such as:

  • Losing one’s job

Being laid off in a time of economic downturn could be very devastating. With difficulty in getting new job offers, the next best thing would be to start a Home based business.

  • Flexible lifestyle

You are your own Boss. Literally, you can come and go as you please. You maintain better work/family balance. There are no set opening and closing times. You go for lunch and vacation when you feel like

  • Reduction in Stress level

The daily commuting, especially with the present heavy fuel costs is avoided. Also those train/bus rides to and from work with all sorts of characters is avoided.

  • No corporate office politics

You are not thinking of how to always please the boss and climb the corporate ladder. You don’t have to engage with difficult colleagues. Best of all, there are no dress codes.

  • Cheaper start up and running costs

It’s cheaper to set up a Home based business. A serious entrepreneur can get started with just $5,000. The main requirements could just be a computer, mobile phone, printer and a good internet connection. No rent of physical store space.

  • Secondary Income

Some entrepreneurs set up business at home to bring in extra income to support a day job. Some people start the business as a part time hobby. Eventually the business may become very successful and the entrepreneur will now take the decision to resign from the day job.

  • Be your own boss

You are your own boss. You have the freedom to do things the way you want. There is nobody breathing down your neck reminding you of targets.

  • Job dissatisfaction

An otherwise loyal employee may become unhappy with the company for lack of promotion and motivation. The next thought is to set up a Home based business.

  • Opportunity to achieve Self actualization

Having your own business gives you the opportunity to make as much money as you desire. This of course depends on how much money you want to make and the amount of time and effort you decide to invest in the business.

Advantages of running a business from home

The desire to get out of the rat race, avoid the daily grind coupled with the power of modern technology make telecommuting more productive.

Together with some of the factors already mentioned above, listed below are more advantages:

  • Tax advantages

You can deduct some of your expenses as business expenses. These could be utility bills, insurance, mortgage and property tax.

  • Opportunities for Professional improvement

It is safe to assume that with the day to day running of your business, you will develop more business management skills.

  • Multiple streams of Income

With more time to yourself and the freedom to follow your lead, you can decide to explore other areas of interest and create multiple streams of income.

Disadvantages of running a business from home.

In spite of the almost glamorous attraction of Entrepreneurship, there are some disadvantages which must be effectively managed in order to improve the chances of success.

  • Irregular Income

For some one that had been used to regular pay checks, having to go through some weeks without income could be a huge challenge.

  • Lack of adequate space

This could arise where work sometimes spills into the home space

  • Nearness of Family and Friends

The nearness of family and friends could become a distraction if not properly managed.

  • Lack of Fringe benefits

Fringe benefits like health and dental insurance and paid vacations which were hitherto being enjoyed in paid employment are no longer available.

  • Friction with neighbors

The type of business you are involved in could create friction with neighbors due to noise pollution and lack of packing space

  • Health Issues

Staying glued to the computer screen and in a small space may affect health and fitness. So try and create time for exercise and recreation.

CONCLUSION

So as the French would say Voila! There you are! The idea of starting a business at home has become engraved in the mind of people. Every day, people are starting thousands of businesses in their residences all over the world.

Though there are disadvantages in running a business from home, the advantages far outweigh the disadvantages.

Some industry watchers believe that crave for setting up businesses at home is waning and the general trend could be heading downwards.

However, I personally believe that the trend can only continue northwards. Why? Because I see all the indices still pointing positive. The factors that motivate people to set up Home based business are still very much around. There are still massive lay- offs going on in many companies and workers are still feeling short changed by employers.

To crown it all, the technological tools like Computers, Mobile Phones, Printers and the Internet which assist Home Based Business owners to work smarter and achieve more with lesser effort are still evolving.

Therefore I’m of the view that the trend of setting up businesses at home is still on the upward swing.

So, how about you? What do you think? Is the trend moving up or going down.

Let’s have your thoughts.

Renovating a Home in Mississauga Is Cheaper Than Buying a New One

Are you tired of the dull look of your home? Do you want a new home that matches your style and personality? If you are thinking of selling your home and interested in buying a new property in Mississauga, it is time to reconsider your decision.

Current Real-Estate Scenario in Mississauga

According to Point2Homes, a premier Canadian real estate website, home prices have increased by 10.4 percent in comparison to last year. It means you will be able to sell your home at a great price. But, do not make a quick decision of selling your old home. It is because steady rise in the home prices has led to difficulty in buying new homes.

Why are Home Prices increasing in Mississauga?

According to the Globe and Mail, Canadian home prices will decrease in 2017. It is because there is a rise in the number of first-time home buyers who find high-priced homes out of their budget. But, the scenario is different for Greater Toronto Area. Higher level of demand and growing economy will continue to increase home prices in the area. And, because Mississauga is one of Toronto’s closest neighbors, home prices will continue to rise in the future.

Also, the new mortgage rule has not cooled off prices in the Peel region. With the introduction of the high down payment rule, home listings in Toronto city have decreased. And, it has increased the home prices in Mississauga.

What is the solution for Home Buyers of Mississauga?

If you are tired of your home, do not sell it. There is an affordable option of building a home of your dreams. You can renovate your current home and make it beautiful to suit your needs. There are many home renovation contractors in Mississauga area who undertake simple renovation work as well as complex remodeling projects.

Renovating a Home in Mississauga

Whenever you think of renovating your home, you must hire a home renovation contractor. It is best to let experts handle renovation work because a small error can ruin your chances of building a beautiful home.

Decide what kind of renovation work you want the contractor to do in your home. Once you are sure of the work, hire an experienced contractor. Also, make sure that the home renovation contractor has adequate knowledge of the permit regulations in Mississauga city. Before undertaking renovation work in the city, you have to know the following things:

· Are you allowed to undertake renovation work on your property?

Mississauga city’s zoning by-law provides you with information regarding undertaking any renovation work on your property. It also involves details about the size of the structure and the parking area. If you wish to make any change to the existing structure, you will have to refer to the by-law before starting the work.

· Do you require building permit for the work?

You are required to obtain permit for different renovation work such as constructing a porch, excavating the basement, repairing the private sewage system, etc. On, the other hand, erecting a fence, installing a siding, building a kitchen cabinet, painting the home, etc. don’t need a permit from the City of Mississauga.

Renovating a home and making it beautiful is a cheaper option than buying a new home. Selling your home and buying a new one can become an expensive task in Mississauga. So, hire an experienced home renovation contractor who can work for you and help you in building the home of your dreams.