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BIG DECISSIONS
Wheels or no Wheels?
As tiny homes have gained popularity with influencers and tv shows featuring happy people who are ready to dispel all of their personal belongings and go tiny, it seems everyone is in the market to sell you your first tiny home. So, how do you choose? Homes on wheels or permanent dwellings?
What's the difference?
Type | Resale Value | Land Use and Zoning | Legal Classifications | Infrastructure | Financing |
|---|---|---|---|---|---|
Tiny Home on Wheels | Depreciates after purchase like a vehicle | Zoning restrictions on where they can be parked or lived in and how long a they can remain in one location | Recreational Vehicle subject to DMV | Require same infrastructure for long term living, foundation to park utilities and sewage system | Lenders are hesitant due to mobile nature of the Recreational Vehicle |
PreFab Modular | Appreciates property value like a traditional home | Meet or exceed local building codes, zoned like traditional homes | Once installed becomes permanent real estate | Foundation and standard utilities, including electricity, water, ad sewage systems, like traditional homes. | Financeable under a tradicional home loan |
RESALE VALUE
Tiny Home on Wheels
Depreciates after purchase like a vehicle
PreFab Modular
Appreciates property value like a traditional home
LAND USE & ZONING
Tiny Home on Wheels
Zoning restrictions on where they can be parked or lived in and how long a they can remain in one location
PreFab Modular
Meet or exceed local building codes, zoned like traditional homes
LEGAL CLASSIFICATION
Tiny Home on Wheels
Recreational Vehicle subject to DMV
PreFab Modular
Once installed becomes permanent real estate
INFRASTRUCTURE
Tiny Home on Wheels
Require same infrastructure for long term living, foundation to park utilities and sewage system
PreFab Modular
Foundation and standard utilities, including electricity, water, ad sewage systems, like traditional homes.
FINANCING
Tiny Home on Wheels
Lenders are hesitant due to mobile nature of the Recreational Vehicle
PreFab Modular
Financeable under a tradicional home loan
What's the difference?
The Big Difference
The biggest difference between a modular home and a home on wheels is classification.
A home on wheels according to the CA Department of Housing and Community Development is a recreational vehicle (RV) that is required to receive certification from the American National Standards Institute and registration from the DMV. As an RV it depreciates the second it rolls off the lot and into your life.
A modular home, like traditional homes, increases your property value and appreciates over time.
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