modular homes
Posting Guru
Joined: Jul 2002
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From: Vancouver WA
modular homes
Another thing to consider is the fact that most modular/manufactured homes do not appreciate in value. Several years ago I bought one for $42K, sold it about 7 years later for $36K, and was lucky to get that. I bought the house I'm in now in '99 for about $142K. It's now worth right around $165K. Just a little difference.
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Senior User
Joined: Oct 2001
Posts: 110
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modular homes
hi again: thanks for the responses and info. i'm in colorado where the median price is about 250,00.00. nuts,huh !!! can't see how people could afford them but they do and seem to lose it after several years.or so it seems.i,ve been in my house for about 15 years and getting kinda close to paying it off.bought it for about 58,000.00.thought i couldn't afford it at first.now i know i couldn,t afford a quarter million dollar house.i'm thinking the housing market will correct itself in the future.i heard that their were some good modulars as well as manufactured homes out their that were reasonable.i'd have to move about 45 min or so outside of town.the house i'm in now is only 800 sq. feet.a bit small but do able.no garage and very close to a high school.gets trashy every day.drives me batty.just keeping my eyes out for a decent bargain somewhere.my next step may be looking at foreclosures.not sure how to go about it but am learning.again, thanks everyone...joezee
Posting Guru
Joined: Sep 2002
Posts: 1,359
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From: Charleston, SC
modular homes
IMHO, the price doesn't matter too much. It's the Interest that will kill you. The Interest being what it is, is lower now that it has been for many years and it is still a tax deduction.
The inflation of the homes value is on the whole price even though you only have a small part paid for. The way the market is in my area, you can rent for about 1/2 or less than purchase prices. It's a no brainer, put the equal amount of your rent into a good stock fund.
The inflation of the homes value is on the whole price even though you only have a small part paid for. The way the market is in my area, you can rent for about 1/2 or less than purchase prices. It's a no brainer, put the equal amount of your rent into a good stock fund.
Post Fiend
Joined: Jun 2002
Posts: 13,873
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From: Atlanta GA
modular homes
I would buy a modular over a site built, from an OEM that has been in the business for a while, because I have seen what day labor does on a job! Plus, it is better to be able to easily afford a modular then it is to "just make it" on a site built house, imo.
Hotshot
Joined: Oct 2002
Posts: 18,488
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From: The Big, Oregon
modular homes
I used to work for a mobile home dealership in Maine, doin post-setup work. I repaired cracks in the drywall (something to be expected from doing 60 down the highway), installed closets, and even finished the upstairs of a cape-style modular. The cape, you could re-work the floorplan yourself, and have the home custom built, at the same price. Adding storage spaces and moving walls wasn't too hard in doublewides- these things are built strong though. Most of the ones up there well exceed code, with 2x6/16oc walls, Anderson windows, ceramic tile kitchens and baths, and some even had gas log fireplaces! The floors felt extremely sturdy, moreso than the "stick built" house I was living in at the time. I would have no concerns over living in a modular anytime. One thing to remember, is that it doesn't matter whether the house will appreciate or depriciate- all that matters is how much someone will give you for it.
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