With the housing demand continuing to outpace supply, a new housing crisis is looming on the horizon. In fact, chronic underbuilding and huge demand have already led to a double-digit home price appreciation rate in most states across the nation. Because in a seller’s market homebuyers compete fiercely for homes, many of them are forced to pay tens of thousands of dollars over the asking price in order to buy a piece of property.
Manufactured Housing News
Besides the fact that manufactured home skirting is recommended by most builders, it’s also one of the manufactured home components required in many states across the country. In addition to enhancing the curb appeal of manufactured homes, skirting prevents moisture-related damage, as long as ventilation openings are installed according to specifications; keeps pipes from freezing during the winter; acts as a deterrent for animals and insects, preventing them from invading the crawl space underneath your home and potentially causing damage; lowers heating and cooling costs by keeping a more constant temperature underneath the home, thus preventing a lot of cold or hot air from entering your home; and can even reduce homeowners insurance costs.
Owners of manufactured homes are faced with many important decisions about insuring their home. You would obtain homeowners insurance on a manufactured home just as you would for any traditional site-built home. If you are not currently familiar with your manufactured home's liability insurance, now is the time to review your policy. Here are three major reasons why you should be carrying liability insurance on your property.