Do modular homes depreciate?

[DuffmanOhYeah]

That is the funniest damn thing I have ever seen. Check out the house on the "1998" website. Look at the modular single house about halfway down the page. Its got a driveway to nowhere. Awesome. Im gonna buy me one of these!

Originally posted by: redly1

Originally posted by: SagaLore

Originally posted by: Jadow
those modulars have made great improvements the last few years. It ain't gonna depreciate.

Hmmm...

my wife doesn't want us to build..
we don't want to get stuck in another temporary house..
people are telling us not to rent, buying is the way to go..
I want land..
I want to stay in the town I'm in but there aren't very good houses available with land..

This just might be my solution.

How much do the smaller models typically cost?

My wife did a little research a few months ago. She's telling me $50-$60/sq ft. That's for the house...not the foundation, landscaping, etc. But it is a finished, carpeted, trimmed, delivered to your foundation house.
Add $15 to $20K for a basement or less for a crawlspace or slab.

I seem to remember small models special priced at around $49k. I'm in central Iowa, btw.

link to our local manufacturer - Design Homes

 

[alexruiz]

Unfortunately, for most of the ignorant people, modular means mobile.... and the mobile term doesn't even exist! They are called manufactured since the late 70's......

I guess a lot of people posting after me didn't read this paraghraph correctly.

SagaLore, I guess that after reading the posts you already have a good idea of the ones that know about these houses, and the ones who are looking for post count.....

 

[waggy]

Originally posted by: alexruiz

Originally posted by: SagaLore
I'm not talking about mobile homes, but those premanufactured houses that can be put on basement foundations. I thought that they lost value as soon as you put one up, but someone just told me otherwise. In many cases a modular home can be stronger than a stick built, and are better insulated.

Anybody have experience with those?

They are BETTER that houses built in the place..... Meet ALL the state codes and the structure is 30% more rigid. Not to mention that the factory controlled environment allows TIGHTER tolerances and better production processes.

You are correct in your assumptions, modulars are not manufactured. Modulars are done based on state codes (BOCA) while the manufactured (formerly mobile) meet only the national code (HUD)

I saw a video once about how they build them and I was impressed. The newest modulars can have ANY shape you want..... If you want to get a new house that has a higher market value than what you paid at the time you start living in it, modular is the way.


Counterpoint:
Unfortunately, for most of the ignorant people, modular means mobile.... and the mobile term doesn't even exist! They are called manufactured since the late 70's......

Advice: Make sure YOU already have the land, are close to get it or you have picked it FIRMLY. Some cities don't allow modulars, in some cases is ignorance, in other cases is protectionism.....

Awesome decision if you ask me!

Alex

yeap my parents have one. they have a nice 3 bedroom one. they paid 50k for the place and it is now worth 60k.

While they do not gain as much as most houses they do gain some money.

But you must look into the city rules. There is only a small area they are allowed to live on. you cant just buy the land and plop one down on it. very silly if you ask me. they are very cheap and made very well.

 

[DuffmanOhYeah]

That is the funniest damn thing I have ever seen. Check out the house on the "1998" website. Look at the modular single house about halfway down the page. Its got a driveway to nowhere. Awesome. Im gonna buy me one of these!

Originally posted by: redly1

Originally posted by: SagaLore

Originally posted by: Jadow
those modulars have made great improvements the last few years. It ain't gonna depreciate.

Hmmm...

my wife doesn't want us to build..
we don't want to get stuck in another temporary house..
people are telling us not to rent, buying is the way to go..
I want land..
I want to stay in the town I'm in but there aren't very good houses available with land..

This just might be my solution.

How much do the smaller models typically cost?

My wife did a little research a few months ago. She's telling me $50-$60/sq ft. That's for the house...not the foundation, landscaping, etc. But it is a finished, carpeted, trimmed, delivered to your foundation house.
Add $15 to $20K for a basement or less for a crawlspace or slab.

I seem to remember small models special priced at around $49k. I'm in central Iowa, btw.

link to our local manufacturer - Design Homes

 

[vi edit]

That is the funniest damn thing I have ever seen. Check out the house on the "1998" website. Look at the modular single house about halfway down the page. Its got a driveway to nowhere. Awesome. Im gonna buy me one of these!

You mean the garage?

If you've never been to a "sales lot" for a modular home then you wouldn't get it. They often just have a bunch of houses randomly placed over their grounds that you can walk through to see what you like. They aren't meant to be lived in, just show houses.

 

[waggy]

Originally posted by: vi_edit

That is the funniest damn thing I have ever seen. Check out the house on the "1998" website. Look at the modular single house about halfway down the page. Its got a driveway to nowhere. Awesome. Im gonna buy me one of these!

You mean the garage?

If you've never been to a "sales lot" for a modular home then you wouldn't get it. They often just have a bunch of houses randomly placed over their grounds that you can walk through to see what you like. They aren't meant to be lived in, just show houses.

darn! i thought they were for the new "hover car" we been hearing so much about!

 

[Ferocious]

They sorta look like fake homes to me in the pictures....But honestly I have not seen a modular home in person....so I'll reserve final judgement.

However I can honestly say that with manufactured homes....you get what you pay for.

 

[alexruiz]

Originally posted by: Ferocious
They sorta look like fake homes to me in the pictures....But honestly I have not seen a modular home in person....so I'll reserve final judgement.

You need to check one of those 2 story, 3000 sq ft....

:wine: