Anyone hear buy/build a "modular home"

[perk_1405]

Very true. The structure usually does not appreciate like a stick built home.

I know in the multiple listings, they have to be identified as a modular home.

i think it depends if its an on frame or off frame. on frame can be moved later like an trailer and it depreciates like a trailer and the off frame is considered a stick built home, same construction loan and every thing and it does appreciate in value.

 

[viperhauler]

it all depends on where you live...the same could be said with a lot of things...but i know for a fact that my folks home has appreciated well beyond it's original price...and many other properties have done the same...the biggest problem is that uneducated, for lack of better terms, people, see modular and associate that with mobile...which...obviously are two completely different entities...needless to say i don't agree that they DEpreciate...

 

[Wifey]

Alfredo,
I would go with a stick built home - the modular may be a higher quality than a mobile home, but it won't hold value like a stick built home. I think most people have an aversion to the word modular home. Just my .05 .....

Here is the opinion of a Realtor in North Carolina - just something to consider (perception is everything)........

Keep in mind that real estate value is driven by market perception. I am a Realtor in Charlotte North Carolina and have been have worked with hundreds of buyers. I share this because there can be dramatic differences based on each location. The benefit I share is also that Charlotte has become a melting pot from all across the nation. This being the case, my experiences should be consistent throughout the US (it is likely that I have dealt with buyers form your City/State).

Yes, each buyer is different but how do you determine the greatest value? The best investment is ultimately based on perceived value. As illustrated in the previous comments, opinions vary about modular homes. There is a given perception and perception is reality. There will always be a portion of the public that is uncertain, afraid of or simply dislike modular homes. Whether this is based on reality or just rumor is largely irrelevant. When a question arises about the quality of the home, you have just lost market value. The greatest market value is the result of demand. The larger the demand for a given type home or location, the greater the value and appreciation.

There will always be a portion of the public that will shy away from modular homes. This being stated, the appreciation will always be lower than a stick built home. Again, this is not to disparage the modular home but I deal with the public reality. My concern is primarily for the resale potential and your investment. If you want more of this perspective, feel free to visit Charlotte Real Estate and I will help with what I am able. I am not claiming to be the all knowing but understand the nature of real estate and the economy.

Good luck with whatever you decide on :rock:

 

[FerrariTruck]

it all depends on where you live...the same could be said with a lot of things...but i know for a fact that my folks home has appreciated well beyond it's original price...and many other properties have done the same...the biggest problem is that uneducated, for lack of better terms, people, see modular and associate that with mobile...which...obviously are two completely different entities...needless to say i don't agree that they DEpreciate...

:congrats:

yup i think folks are getting confused on what a modular home really is. Let me see if I can get some pics of them. From what I understand they are the same as a stick built home just pre-made in pieces in a warehouse. that way they build homes faster. I dont see it depreciating, brand new house..not 45year old, plumbing, electrical and roof...

 

[viperhauler]

:congrats:

yup i think folks are getting confused on what a modular home really is. Let me see if I can get some pics of them. From what I understand they are the same as a stick built home just pre-made in pieces in a warehouse. that way they build homes faster. I dont see it depreciating, brand new house..not 45year old, plumbing, electrical and roof...

now this is where you have to be honest with yourself....everything built in a factory is subject to "factory" mentalities....obviously...
case in point...my buddy told me they were about 6 months wait...well hell, no bigger than his house was, i could have had it done in about 4...so that didn't work...plus with the "options" he wanted it was driving his costs to around $90/sq.ft....which, i could build a fairly nice pad for that AROUND HERE.....you'll obviously have to do some serious homework...but i wouldn't get hung up on "i can get it faster".....

 

[FerrariTruck]

thanks wifey, that was a good read

I think i want one of these on the 3rd story:rock:

do not want, this a double wide i believe

this is nice

what they use to put em together

 

[FerrariTruck]

here are some vids that show the home styles i'm looking at

 

[includemeout]

:congrats:

yup i think folks are getting confused on what a modular home really is. Let me see if I can get some pics of them. From what I understand they are the same as a stick built home just pre-made in pieces in a warehouse. that way they build homes faster. I dont see it depreciating, brand new house..not 45year old, plumbing, electrical and roof...

Not confused, worked for Dual Wide mobile homes, and Dell Webb/G.E. mobile and modular, and Watts- Wicks industries suppling a federal contract for both types of homes and Andy and Sons mobile and modular homes.

They are not the same by any means as a "stick" built home.
from cheaper materials to a much less stringent (verses local) building requirements ( we are talking 1975 Fed.requirements) Local requirements have been updated at least 5 times ( the older UBC does no longer apply)

And then there are the chemicals used in the materials, yuck!!!!

You will not even get what you pay for, the whole industry is a Racket

But different strokes for different folks

 

[FerrariTruck]

Not confused, worked for Dual Wide mobile homes, and Dell Webb/G.E. mobile and modular, and Watts- Wicks industries suppling a federal contract for both types of homes and Andy and Sons mobile and modular homes.

They are not the same by any means as a "stick" built home.
from cheaper materials to a much less stringent (verses local) building requirements ( we are talking 1975 Fed.requirements) Local requirements have been updated at least 5 times ( the older UBC does no longer apply)

And then there are the chemicals used in the materials, yuck!!!!

You will not even get what you pay for, the whole industry is a Racket

But different strokes for different folks

Very interesting perspective . When i was 14 all thru 18 I worked part time with my uncle doing remodels and 2 "stick built" homes. I saw exactly how they are made and know how "tough" they are so to speak.

I'll be completely honest,all i know is they look great, I dont know how the quality of the homes i'm looking at but you better believe I'll be looking very closely at them assembled and in pieces before I decide. I know I can roughly spend about 75k for a decent stick built home plus about 45kish for labor But I want to look at all options.

That why the forum is great, tons of folks to talk to only a keystroke away

 

[FerrariTruck]

This is the company i'm gonna talk to on friday and more importantly find out if I even qualify for a FHA loan for a first time buyer.

 

[includemeout]

This is the company i'm gonna talk to on friday and more importantly find out if I even qualify for a FHA loan for a first time buyer.

Good luck to you either way you go Home ownership is a very rewarding feeling and I am happy that you are doing some serious checking before taking the plunge:rock: :rock: :rock: :congrats: :congrats: :congrats: