Modular homes...

blackredyellow

Anyone have any experience with modular homes? Building, buying, selling, etc.?

The wife and I have been house hunting for a while, and we are disappointed with what we have been finding in our price range, but depending on how good of a deal that we can get on land, we are considering building a modular home.

Everything that I've read has said that their resale value and durability is the same as stick built homes, but we just don't want to be stuck with something that we have trouble selling down the road.

Lostdoggie

From what I know you shouldn't have a problem reselling a modular house. Remember, a modular is a stick built home, it's just built else where.

Manufactured homes are the ones you want to avoid. Those don't appreciate as well and are harder to sell.

Lukin639

We checked into modular housing about ten years ago.
The lender that we talked to back then said they depreciate similar to an automobile.

That is the first call I would make if I were you...lenders.

acoustic guy

blackredyellow wrote:

Anyone have any experience with modular homes? Building, buying, selling, etc.?

The wife and I have been house hunting for a while, and we are disappointed with what we have been finding in our price range, but depending on how good of a deal that we can get on land, we are considering building a modular home.

Everything that I've read has said that their resale value and durability is the same as stick built homes, but we just don't want to be stuck with something that we have trouble selling down the road.

They used to have a bed rap when they first came out. Now they are built pretty well. Like the person above me said, they are almost exactly the same as a home built on the land except this one is not. Still the same blueprint. I really doubt they resale value would be a factor.
You might find a better deal with a tear town house and build a mod home on top of that land instead of finding just the empty lot.
Good Luck

Lostdoggie

Lukin639 wrote:

We checked into modular housing about ten years ago.
The lender that we talked to back then said they depreciate similar to an automobile.

That is the first call I would make if I were you...lenders.

That's a manufactured house. They have a steel frame and also a VIN number. Modular is very different.

WhiteMaleRat

I think what you are referring to is a prefabricated house. They build the walls, roof, floors, etc. in panel sections in a shop and ship it to the site. They erect the house with a crane.

Overall, this reduces labor and errors (theoretically), which is probably why it's cheaper.

One major recommendation would be to demand that full drawings be submitted before you sign a full contract or make a significant payment. Make sure there are structural drawings originally stamped and signed by a licsensed structural engineer in your state.

Another thing to consider is finishes. Believe it or not, much of it can be done in the shop. You may want to consider all your options - especially providing finishes after the house is erected.

Don't forget the design and cost of the foundations.

Good Luck.

juliefer

modular homes are also better for the environment because there isn't as much waste from the construction.

i think as long as you bought from a reputable company, there wouldn't be much to worry about.

there's a pre-fab home show on at the museum of modern art right now in new york. they're the next big thing! (lots of articles on them in interior design and architecture magazines these days too.)

peacegirl

Modular homes are stick built homes but they are built in a controlled environment and the "set" on the land. The construction period might even be shorter because then you don't have delays because of weather.

You should avoid manufactured homes. Manufactured home is the same as a double wide mobile home. They have a steel frame and don't actually sit on a foundation. And I'm not sure where you live, but in Delaware they have a title just the same as a car or single wide mobile home.

You shouldn't have any problems with a lender with a modular.

It can be confusing and I am no expert but I work in real estate so PM me if you have any other questions. I'll try to help if I can

blackredyellow

acoustic guy wrote:

They used to have a bed rap when they first came out. Now they are built pretty well. Like the person above me said, they are almost exactly the same as a home built on the land except this one is not. Still the same blueprint. I really doubt they resale value would be a factor.
You might find a better deal with a tear town house and build a mod home on top of that land instead of finding just the empty lot.
Good Luck

Thanks...

You really think a tear down house might be cheaper? I haven't done any research, but I would think that all of demo work and the strict disposal rules these days would make tearing down a house a costly process.