The Cubic foot vs
Square Foot Really Counts
In Part 1 we showed
you how to search for
that have tremendous
In Part 2 we offered up some very creative ways you could remove the old "TRAILER", "MOBILE HOME" or "Pre HUD MANUFACTURED HOME" and with a little imagination recreate that Tiny Little SPACE with a nice new BIG PLACE by utilizing CUBIC FOOT instead of focusing on the SQUARE FOOT.
Now Get Ready For PART 3?
If your one of the lucky ones fortunate enough to own a home on the bluff over-looking the beautiful blue Pacific you're probably looking at around $2000/sf for a scraper on the North San Diego County waterfront. Or to put in much simpler terms approximately $5,000,000 for a 2500sf home. Some homes on the bluffs of Encinitas & Leucadia have recently sold for as much as $11,700,000.
The 92024 zip code is one of the priciest areas on the North San Diego Coast thereby making it one of the most expensive areas in the United States. The bottom line is that this becomes a very solid investment as the World just isn't making any more sand West of Pacific Coast Highway 101.
If you're between Coast Highway 101 and the bluff but
not on the water or coastline you're looking at $500-
1000/sf for a scraper or approximately $1,250,000-
$2,500,000 for a new build-out or a major remodel.
So perhaps another option is to rent/lease a Manufactured Home Space in one of the few Manufactured Home Park Communities for around $2500 per month.
This monthly price example is based on the average rent/lease rate in today's market and amortized over a 30 year period allowing for annual escalation adjusted to the Consumer Price Index (CPI).
So by investing about $150-300 thousand dollars and either remodeling, adding on or removing and replacing the existing "TRAILER" "MOBILE HOME" or PRE HUD MANUFACTURED HOME with a new State-of-The-Art "HUD MANUFACTURED HOME" it could still be a good deal if you really want to be a part of the beach and surf culture that some of the few remaining North San Diego Coastal cities still offer.
Simply put when you do the math to own, pay taxes, insure and maintain a 2 million dollar home for 30 years at today's interest rate of let's say 3.9% interest fixed you would be looking at close to $13k/mth or about $4.6 million over 30 years not including major deferred maintenance.
To live in a $200,000 Manufactured Home in a rented or leased space for an average monthly space rent of $2500 over a 30 year period in the same neighborhood as the person with the $2 million dollar home you will spend approximately $1.2 million dollars assuming you paid the manufactured home off in 10 to 15 years at 8% which is the average term for a Manufactured Home loan.
So if your goal and desire is to feel a part of that beach and surf culture and enjoy the ultimate in a quality of life experience and still live among the rich and famous you can. But more importantly you can do it in style with a new or remodeled Manufactured Home.
This 2 story hybrid, lower level 15x36 504 square foot Silvercrest Manufactured Home with a 2nd floor site -built cabana turned this 30x40 1200sf space/lot with a 500sf 1bdm 1 bth singlewide trailer in above photo into an 1130sf 3 bdrm 2 bth beach casita with tandem parking for 2 Mini's and two golf carts.
Upstairs upper left: The master suite has an entertainment center with a 46in flat screen SMART TV and DVD, Cable TV and full wireless Internet. Right: Wine nook with glass shelves for wine and cocktail finery. This is built over the enclosed staircase conjoining the Manufactured Home with the site built structure.
DOWNSTAIRS Upper left: Kitchen and dining area shared with MIDDLE: open area living room. UPPER RIGHT: Small bedroom or study in the rear. The flooring was custom pine wood from Maine with original old time steel spikes.
When you add an additional 200+sf for the outside kitchen and dining area and enclosed balcony to the interior 980sf it yields an 1180sf CUBE.
Not bad for a 30x40 1200sf lot and we still end up with a 13x20 foot driveway and patio for outdoor activities, which is most of the time, when not down surfing, walking or sunbathing at World Class "Beacons Beach" one of North San Diego's best surf breaks and finest beaches. Even though it sounds like we're smothering the lot with a structure the overall footprint is less than 900sf.
The Housing and Community Development Department (HCD) for the state of California, who regulates RV, Mobile and Manufactured Home Parks, Developments and Communities requires that the structure only be built to within 75% of the total lot size. As you can see by doing some simple math we managed to stay within those parameters.
The really good news is
that in California most
homes that are this close
to the ocean do not lose value
even in the tumultuous
market adjustments we
experienced from '08-'12.
This little beach casita "Casita de
Aire y Sol" is only 310 feet from the ocean. We know because we
had to take a calculated
topographical measurement to
determine whether or not we
would be dealing with the
California Coastal Commission
which would have been a huge
obstacle to contend with.
Phew...we made it by 10 feet!
Overall there are endless
opportunities with Manufactured
Housing especially the way they
are built today. In the old days
(circa 40's to mid 70's) they were
built like flimsy travel trailers
with aluminum siding and 1/4
inch interior paneling over a 2x3
exterior frame wall system. In
fact we used to call them
Today's HUD Manufactured Homes are built according to the HUD Code which is tantamount to a conventional site-built home. You can spec in just about anything you can imagine i.e. 2x6 exterior walls, drywall, stucco, wood and even Hardy Board (fibrous Cement combination), tile roofs, etc.
As for interior complements? The sky is the limit. You may order the home without any appliances, floor and wall coverings, counter tops, misc. fixtures, etc and purchase your own. However, they must all be installed in order to obtain a Certificate of Occupancy.
So what will it be?
Can you afford to
spend 1.2 million
to 12 million for a
home near the
If you're interested in purchasing a Manufactured Home in
the North San Diego area
and CREST HOMES Manufactured Home
Dealer & Developer.
If you're interested in remodeling, room additions, adding a
2nd story cabana or removing and replacing your existing
home with a brand new
State-of-The-Art HUD Manufactured Home
ON THE LEVEL General & Manufactured
Home Contractors INC.
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