Is building a modular home cheaper then actually buying one?
Modular Home Questions July 5th, 2009I live in Paducah KY and i was told that building a modular home is cheaper then actually purchasing one. I’m looking to doing either buy or build but if i can get something new for a lesser of a price then im all for it. So i get on the net and i search for general prices and models of homes and nothing. The person who told me this doesnt live in a modular home nor is going to in the future. So my question is a modular home cheaper than buying a home?
July 5th, 2009 at 10:55 pm
Generally as a rule, mobile homes depreciate rather that appreciate in value. Check values with local real agent doing a market analyis for free, rather than an appraisal.
July 5th, 2009 at 10:55 pm
It really depends on what pre-existing homes are selling for in your area. Then compare them with the following which would be required for building a modular home:
Land Cost
Sanitary system cost (either putting in a septic tank/field or running sewer lines to hook up to municipal sewer lines if available)
Water supply (digging a well or hooking up to municipal supply)
Bringing electric power to your home
landscaping
driveway installation
decks if desired
front steps
and all of that is added to the cost of the home.
In this market, you may be able to find a home that needs some work for a lot less than you could put up a modular home. But since I don’t know the market conditions in Paducah, that is something you have to look into.
July 5th, 2009 at 10:55 pm
I wouldnt do a mobile /modular or manufactured anywhere – they’re like used cars – they’re worth less than any regular house the day they’re done being put on or built – they’re worthless and have horrible re-sale value