Thread: Modular/Manufactured Homes

Does anyone have any expereince with either modular or manufactured homes? Some of the prices seem nice...

My sister has one and likes it alot. The prices are good and I don't see anything wrong with having one at all. My wife and I will look into one eventually with log cabin siding. You can get these things made any way/style you want!

There nice until you have a fire or natural disaster. They don't hold up well then.

Point taken.

Few natural disasters here in Pa. though.

I thought those things attracted tornadoes no matter where you live!

Resale value for manufactured homes is also much lower than a regular house.

I have looked into these. One of the big differences in price is whether you get a concrete slab foundation. Plus you have to have land to put them on.

Plus, you can now afford a big F-350 to pick up the trailer and move it where you want.

That is exactly what the first winner of the Georgia lottery did. He bought him a double wide and moved to Alabama (which is going back in time).

I have seen some here in Georgia that have, what looks like, a parking cover, per se, built over the trailer. It is completely covered. I have seen some on cinder blocks high enough to have a basement and sure enough they do. Must have cut through the floor somehow.

Good to have as long as there aren't threats of storms, etc.

Do they hold up well under a lot of snow / ice?

I looked into getting one of these some time back. The main drawbacks seem to be:
Inside, some of the components seem to be very cheap and light (ie: doors, flooring, cabinets, etc.)
#2: they really don't appreciate like a house would. The only thing that will appreciate while you have them is the land that you'll need to buy with it. And typically, the land appreciation isn't nearly as high as with a regular site-built house simply because of the location.

So, while the initial cost can seem quite attractive, just be careful that its meeting your goal of where you want to be in the long run, because it can actually end up costing you a lot in "missed opportunity" of housing appreciation. Case in point, my friend bought a townhouse 2 years ago for $240K and was able to sell it recently for $375k. If he would have decided to buy a manufactured house, he would have missed out on over a hundred thousand dollars.

However, if someone wants to spend considerably less than $240K, oftentimes a manufactured home is the only route to provide them with a NEW, clean, no problem house that is all their own. Sure beats rentin'!

Many times, people end up renting land...and when you add that plus the cost of financing, you're paying for a more expensive home that loses value.

If you're buying the land, you can actually find decent mobile homes. I have seen one with a whirlpool, a fireplace, vaulted ceilings, 2 bedrooms that was about 5 years old...the asking price was $25,000

There are different ways of looking at it: You can get something very comfortable, with little to worry about in regards to repairs that is affordable.

The other way is how will it benefit you in the years to come? There will be no return.

Then again, most everybody that buys a home isn't making an investment, they're buying a home at an inflated price due to the easy financing available...I don't know if prices are going to keep going up like they have been, so who knows...

I don't imagine that I will have the money to pay 200+ for a house. I would rather buy some land in the middle of nowhere and plop a nice modular on it. The investment part might not be great, but it is attractive just the same...

Matthew,
If that's what you want to do, then it seems like the modular house fits your goals perfectly. Especially if you intend on staying there until you retire or beyond. It would be nice to have some land that's not right next to somebody for a change. You might even have enough peace and quiet to literally have your "quiet times."