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Frequently Asked Questions (FAQ) & Glossary
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What is a Factory-Built Home Land-Lease Community?A Factory-Built Home Community (FBHC) is a kind of neighborhood setting that is similar to a site-built residential neighborhood because each resident owns their own home. But there is a difference. The homeowner in the FBHC leases the land under the home and pays no property taxes which offer a big savings. In exchange for the monthly land-lease fee, the community owner professionally maintains all of the common areas, like a condo association. Living in a FBHC provides the same advantages of a subdivision like a nice list of amenities plus having your own yard for lawn and landscaping, private parking in your own driveway, room for a screened porch or carport, not to mention space between neighbors and all at a fraction of the cost of buying a site-built home and the land under it.
That is why there is a strong movement by families and those over 55 to the FBHC. The same or more for a lot less. The savings are remarkable. If you are intent of getting the most out of your ‘housing dollar,” you should and need to consider the factory-built home concept.
Why should I consider living in an established community when there are so many communities going up all over the place?There are many advantages to living in a more mature community including some of the following:
- Usually the established community is located in an area that has grown along with it offering all of the needed stores and services conveniently located nearby. The home values in a mature community have settled down providing the new buyer with exceptional value while not having to pay above market.
- The well-established community typically has mature tree growth offering shading and beauty.
- Lot sizes in the more established community are many times larger than the newer community.
- Community owner and staff are seasoned and know the community well and have an established track record and reputation.
- Neighbors in an established community tend to look out for one another because they are comfortable in the setting and ‘new’ neighbors are always welcomed.
- Many of the community organizations, holiday events, community events and organizations are beyond growing pains providing the new comer with a feeling of easily setting in.
What should I look for when driving through a Steiner Community?
Selecting a new community to call home is difficult enough without having to find after you made the decision that you got it wrong. The Steiner family has consistently improved each of its communities adding to the value and comfort of living there. Take a drive through the community. Are the homes neat and well cared for? Note the roads. Stop by the community office and visit with the Steiner Community on-site managers. You will find them professional and courteous. Take a tour. Review the amenities. Note that community’s location to where you work or want to live. Visit various model homes already set and ready to go. You will find all that you are looking for in a Steiner Community.
What should I look for when driving through a Steiner Community?
Any of Steiner’s 55+ Communities are a great choice for those having raised their families and now want a quieter setting with good amenities and neighbors with similar interests. Steiner’s 55+ communities offer a wonderful setting and are conveniently located near everything important for an active lifestyle. Children and grandchildren are always welcome to visit and can stay up to two weeks. As noted, all Steiner Communities are pet friendly with some restrictions which can be important to 55+ residents wanting their favorite pet to stay by their side. Steiner’s 55+ communities offer many kinds of clubs, dinners, holiday parties and events, activities, group travel opportunities and recreational events. Most have busy clubhouses sure to keep you involved and meeting many new friends and acquaintances.
What information is requested and what is the process for moving into a Steiner Community?
All Steiner Communities require potential residents to go through an approval process including a background check. A call or visit to the community office will get you started. They will provide you with all of the forms required and will guide you along. You can find a community application on this site or you can email or call the community office to have one sent to you. Just click the “Email community for additional information” link on that community’s page to start the process.
Each community operates from a common document called the Prospectus. The Prospectus clearly outlines all of the information about the community and how it operates as well as your obligations as a resident. The Steiner Community manager will gladly review the Community Prospectus with you answering all questions.
What is a Land-Lease Community and why is it good for me and my family?
That’s a good question and one that we love to answer because it gives an opportunity to put away old myths. A Steiner Community is a Land-Lease community offering you many, many benefits that are included in your monthly fee.
In a Land-Lease community you own the home and not the land it sits upon. That means you are not paying dearly for what you really do not use. Whether land values go up or down you are not impacted financially and you are not making high interest mortgage payments on land that may not prove to be a good investment. The money that you saved by buying only the home and not the land and home can be saved or invested in other areas giving you a greater return on your investment. Land-Lease communities let you do this.
What is typically included in your monthly land-lease fee?
Weekly rubbish pick-up at your driveway is included. Common area maintenance is included in the monthly fee. Access to the clubhouse and all of its activities are included in the monthly fee. The 24/7 availability of a trained, on-site management team is included in the monthly fee. Many communities are gated and the cost and maintenance of the gate and gate house is included in the monthly fee. The entire infrastructure and its ongoing maintenance are included in the monthly fee. In a land-lease community there is never an assessment to repair or improve facilities which is a stark difference from traditional HOA and deed-restricted communities.
All in-place amenities are included in the monthly fee and depending on the community can include a pool, clubhouse, exercise room, laundry area, playgrounds and more are included in your monthly fee. And in a Steiner Community, you DO NOT pay property taxes.
Why were Factory-Built Home Communities (FBHC) Developed?
Lots of reasons for the continued growth and demand for the FBHC setting with the first being proven affordability followed by great value and a convenient, professionally managed setting. The Steiner Community concept provides an opportunity for families to own a great home while saving money by not having to buy the land it sits on. This, while not giving up on a families desire to have a lawn and landscaping, on-lot car parking, space between homes, nice roads and amenities.
All Steiner Communities offer well-trained on-site managers whose commitment to the total community environment is well noted and evident. The continued development of FBHC’s has given homeowners a sensible alternative to apartments where no equity is accumulated or to the high-density townhome or condo setting where someone lives above you, below you or on the other side of a common wall. Steiner Community’s offer a much better alternative to any of these comparable options because you own the home that you can sell, trade, move or bequeath. Try that with an apartment lease.
What exactly is a Factory-Built Home?
If you have not stepped into a new factory-built home, you are in for a great surprise. Factory-built homes are simply new, residential homes that are built indoors in weather tight factories with many of the national manufacturers located within the greater Tampa area. Factory-Built homes are built to rigid HUD national building codes better known as the federal Manufactured Home Construction and Safety Standards and have become well known for their energy efficiency and long-term durability.
Think of all of the everyday items that are constructed in a factory like cars and airplanes and boats and you can begin to sense how the factory-built home is a great alternative to a site built home that is constructed and exposed to all of the elements like rain, wind, extreme sunshine, theft and more. A site-built home is built on-site using traditional building techniques and does not incur the same type of inspections that factory-built homes are subjected to. In addition to that, factory-built homes typically have up to 25% more building materials in them than do site-built homes. This speaks to the durability and strength of the finished product. In addition, factory-built homes are considered ‘green homes’ due to their efficiency during the building process as well as their on-going efficiency as a living environment. As an owner, you save all around.
By combining indoor construction capabilities of a well-run factory with the savings of purchasing all critical materials in bulk, along with the efficiencies of no waste of materials, plus the value of highly trained factory construction team, you can readily see how the savings come to you as a comparison to site-built homes. In fact, some estimate that the factory-built home offers savings of up to 40% of the cost of a traditional site-built home. These are savings you can pocket and not pay for over a long period of time with interest applied. Imagine owning a home for up to 40% less while enjoying all of the features and benefits everyone wants in a home.
Are Factory-Built Homes covered by a warranty?
Most manufacturers offer warranties to guarantee the quality, workmanship and major heating and cooling systems of the home for a specified time, usually ranging from one to five years. Information from the manufacturer of your choice regarding their warranty program will be shared with you if you are purchasing a new home.
Do Factory-Built Homes appreciate in value?
Any home is a great investment for you or your family. Appreciation of any home—either site-built or factory-built is affected by the same factors: the desirability and stability of the community, supply and demand for homes in the local market, as well as maintenance and upkeep of the home. When properly installed and maintained, today’s factory-built home will appreciate the same as surrounding site-built homes.
What kinds of financing are available for Factory-Built Homes?
Buying and financing a factory-built home is no different than buying a site-built in that you have choices and a variety of options. Down payments and loan terms are similar to other forms of housing with lenders requiring 5 to 10% down and loan terms up to 30 years. Of course, each application is different and the information requested by various lenders may be different but in the final analysis, you will find lenders of factory-built home loans to be efficient, credible and informative. In certain circumstances VA and FHA loans may be available to you. Your Steiner or Park Place team is ready to assist.
Will I be able to insure my Factory-Built Home?
Yes, there are any number of insurance companies that specialize in offering competitive insurance coverage for factory-built homes. Again, the Steiner or Park Place team can assist.
How do Factory-Built Communities compare to apartments or condominiums?
If space and privacy are important to you, then the selection of a factory-built home and community offers distinct advantages over an apartment or condo. The facts bear this out. Neighbors don’t live above you, below you or on the other side of a common wall. Plus in a Steiner Land-Lease Community, you have your own driveway, your yard is your own to personalize and enjoy and you own your own home inside and out. If you want to paint your bedroom purple and you own the home then have at it. Try that in an apartment complex.
Plus in a Steiner Community, you get to enjoy all of the amenities, clubhouse events and other activities that are the same as other communities. Renting an apartment only invests in the landlord’s future and when you leave, you leave your money with him or her. In a condominium setting, you must pay homeowner association dues plus deal with the HOA association which at times can be difficult. Living in a Steiner Land-Lease Community offers you the best of all worlds and you own your own home.
Should I buy my Factory-Built Home from you?
Certainly, either the community manager or the staff at The Homes of Park Place can assist in every way in the home buying experience. We would be honored to provide you and your family a wide selection of model homes or assist in designing and building a home that fits your needs to perfection; and all within a budget that is important to you and your family.
We offer competitive pricing for all major factory-built home manufacturers, can assist with financing and insurance plus offer you our years of factory-built home experience in making the whole process one that is easy and with the result one that you will be proud to call home. Our turnkey system can handle the whole process with your comfort and timeline in mind. Starting with Steiner is our best advice.
How do I know what I can afford in a new or pre-owned home?
Again, our many, many years of experience with factory-built homes and communities stand us apart from other factory-built home dealers because we own the community making the whole process easier and basically all ‘one-stop shopping.’ The payment calculator (link) can help you determine how much home you can afford. Once you have determined your home budget, our sales or management team can assist you in finding the right installment loan that fits your budget. All in all, everyone at Steiner Communities and The Homes of Park Place is ready and trained to assist in every phase of the home buying and move-in experience.
How do I find a competent and qualified contractor to deliver and set my home?
Our years of experience have provided us a listing of well-qualified contractors that will prepare the lot and set the home to the rigorous standards now in place in Florida. All contractors that we recommend are bonded and insured and have many years of proven experience within the factory-home industry. A point of interest; no factory-built home set within the standards put in place since 1999 have received any notable damage as a result of a named storm in Florida. That is an impressive record and speaks to the quality and dependability of the factory-built home. As part of the industry for forty years, we are proud of this accomplishment and feel that it allows families to enjoy the home without all of the costs of concerns that are sometimes expressed by the press.
What are the rules regarding pets in a Steiner Community?
Most Steiner Communities gladly accept pets knowing of the importance these animals are to the family or individual. As with most community settings, some restrictions as to weight, number and breed of animal are in place. Exotic animals are typically not approved but this is something to discuss with the community manager directly. All Steiner Communities are pet friendly.
What typically comes with a Factory-Built Home?
Again, this is where we excel when compared to traditional site-built homes. Factory-built homes come with everything you need to move in. All appliances are in place and many times that includes the dishwasher. Carpets, window treatments too. And if you custom ordered your home it will be delivered with all of those “important to you” features. You can select from a wide, wide range of items to have installed in your new factory-built home. Items like custom kitchens and baths, solar tubes, ceramic tiled floors, fireplaces, Jacuzzi tubs, wall colorings, special windows, special floor plans and so much more. Having an opportunity to design and build a new home at up to 40% less than a site-built home and have everything you want and need is a good thing. All Steiner Communities managers as well as the team at The Homes of Park Place can assist you with every step of the way. What could be better?