Which is better Modular home or building a home? Please share any info you have.?
Modular Home Questions June 26th, 2010The cost of brick is a lot more then I thought it was right now so we have looked at modular homes since we have the land already and it’s paid for in full. Has anyone ever had problems with there modular home or know someone that did? Was it cheaper for you to do that then to build a home? Any thing you have will be greatly helpful.
June 26th, 2010 at 8:14 pm
You need to contact your building department before you put any money down. Most land is not zoned for both houses and mobiles. It is likely that you can not legally put a mobile on the lot.
The biggest issue will be resale value, they are very hard to resell and of course depreciate, not appreciate as a real home does. (not counting the last 2 years!) Additionally buyers can not finance mobiles easily, so you would need a cash buyer, which might be hard depending on the value of the dirt under it.
June 26th, 2010 at 8:14 pm
Modular homes are typacilly cheaper to build & install than on-site construction. If you’re concerned about the cost of brick, consider another type of siding. Keep in mind though, brick requries very little, if any, maintenance (painting, etc.) over the years, so it’s a cost tradeoff between initial cost & continual maintenance costs.
I have know a couple of people who built modular homes. One had some trouble getting the pieces to fit together properly.
You’ll need to check on the local building restrictions, if any, where your lot is located. Some places don’t allow modular construction.
Personally, I believe that you can get a much better built home by using on-site construction. I have not been impressed by the modular homes that I have seen. Just my opinion.
June 26th, 2010 at 8:14 pm
true modular homes are comparable to stick built homes. You can have brick on them if you wish. Now a mobile or manufactured home is different in value and less desirable when selling. They also depreciate in value as well
I am a mortgage banker in TN
June 26th, 2010 at 8:14 pm
Modular homes are built to the same standard as site built homes and can be placed on the same lot as site built homes. Cost is about the same, but the main advantage is time.
realtor.sailor