Make MH into Modular ?

[Chuck B.]

We are looking into replacing our '76 doublewide with a new unit. I would really like to go with a Modular home for the appreciation value, but I can't find a floor plan that suits our needs. We HAVE found a Silvercrest Manor series MH that is exactly what we want. My question is, can the MH be built to state or UBC codes to qualify as a Modular Home, and can it then be delivered and set up as such, on a slab or whatever, so as to be considered site built, by the manufacturer ?? Would the cost be greater to do that or just have a modular home designed to what we want and have that built? I assume the cost effectivness of modular homes is the same as MH in that you need to get what they already build to get the best value for the $$ We don't have a final cost of the MH yet as we are still mulling thru the mass amounts of options available (some worthless, some important), so cost is a big issue in our choice.

Any info will help to confuse us even more .... but will be appreciated !!
Thanx

[janie]

If you have the $ for modular home, why not go for site built? Modular is much more than Manufactured Home, and site built appreciates faster than a modular home.

[rmurray]

Since you have been asking about options...you need to ask about a modular option....Most high quality manufactured homes can be built as a modular...sometimes for little additional cost...Off frame modulars will have an additional cost...

Did you buy your 76 model new??????.....Seams like it has been a good home for you...As a matter of fact...if it was sold today with the land under it...It would have appreciated by 100's of percents...

Appreciation is a matter of location..location...location..maybe condition..NOT..what kind of building that is on the property..

[dave]

Janie:

Will I'll be doggone.I didn't know that site -built homes appreciated faster than modular homes .This will probably be shocking news to the hundreds of thousands of modular home owners in the northeast too!

As I am personally dedicated to telling my customers the truth would you be kind enough to share the source of your information . I like to be able to back up what I say with some useful stats. and figures.Makes me seem a little more like I know what I'm talking about.

[Chuck B.]

I bought the unit and land together in '86. I agree it is ALL about location. I have lived in my area for 15 years. the first ten years I made $50k in equity. After adding a $25k addition. In the last five years my area is developing at an alarming rate. I have made another$50k in equity in the last year and a half or so. This '76 Fuqua has been awesome. I have yanked just about every wall (except the one bearing wall) and made it into a nice home. I am getting ready to start a family and need a bigger place now. The new unit will butt right up to my existing addition to give me an added 500 sq ft. I am in the construction industry and stick built houses aren't any better built than these. Unless you have it custom built and oversee your projuect daily. As long as banks like Wells Fargo keep offering great deals on financing (im looking at 5.5% contruction to perm ) MH are the way to go.

[annaz]

Modular is not that much more than manuf home. You're paying for a few upgrades, higher ceiling heights, maybe 200 amp service, and a steel framing. A huge cost comes in the site prep as it needs to sit on concrete runners and a perimeter foundation wall. But if you will be ground setting, and using concrete runners and a brick perimeter foundation whether you have a manuf or modular, those costs are closely the same. So the cost can be alot or a little depending how you would have set your home to begin with.

Location is probably 80%, but a better buy for a structure still helps in appraisals and resale value. Site built homes do appreciate better than manuf or modular, but modular appreciates better than a manuf and appraisers can appraise a modular like a site-built as opposed to appraising it as a manuf home. That's a big difference. Appraisers will compare your home to a site-built in an appraisal. Manuf homes can only "comp" to another manuf home.

Now here in AZ a modular is substantially less than a site-built. But we were looking into a Silvercrest as well, but since they come out of CA, it would be cheaper to modular out a Cavco than a Silvercrest. We can build a site-built for $70/sq ft here. Silvercrest came $3.00/foot over that and didn't include much in their price at all, including the UBC modular code.

Now to confuse you even further, there are different types of modular homes. Some come like you are looking at....Some have sidewalls built at the factory and are delivered to the home, then they are completely set up on-site like a puzzle, on a huge slab. Kind of like buying a log home kit. But AZ doesn't have that here, so I don't know much about it.

[janie]

"Janie:

Will I'll be doggone.I didn't know that site -built homes appreciated faster than modular homes .This will probably be shocking news to the hundreds of thousands of modular home owners in the northeast too!"

You learn something new every day don't you Dave? Annaz seems to agree as well.

[rmurray]

Opps....Modular homes do not come in pre constructed wall section for installation on site...

Modular homes are built to a state enforced construction code..and are nearly complete when delivered...

Panelized homes are of what you speak..they are built to a local county building standard and usually build by local builders..

I like Dave..would like to see your facts on the statement.."Site built homes do appreciate better than manuf or modular, but modular appreciates better than a manuf and appraisers can appraise a modular like a site-built as opposed to appraising it as a manuf home. That's a big difference. Appraisers will compare your home to a site-built in an appraisal. Manuf homes can only "comp" to another manuf home"

You are right..in most areas modular homes are comped to stick built...In that case they should appraise exactly the same as stick built...Actually..in my area..appraisors upgrade a quality modular appraisal form the site built comps because they are built to much tougher standards than local stick built..

[Annaz]

The appraisal and comps info are straight from several appraisers and real estate agents in Tucson, AZ. We called several trying to make a decision whether to go manuf, modular or site-built. Site-built is still better in appreciation here. Why? I don't know, because site-built homes here suck. My guess is in AZ there are no basements, so anything on a slab actually is better in appreciation value. It could be buyers' and appraiser's state of mind for all I know, but we called 3 of each. Personally the manuf homes we've bought and the one we're going buy as far as modular far supercedes any crappy site-built they build.

Modular does appraise as a stick built. That's the reason for going modular, in addition to price. However, the main concern on appraisers, mortgage people and buyer's, for resale value, some people, no matter what, come hell or high water, will not buy anything that is remotely manuf or modular, which makes it harder to sell. As far as I"m concerned, if the darned thing can go down the road at 60mph it's far supercedes the crappy site-built we bought.

Panelized homes must be the new lingo for the old moldular. That information came straight from a builder as well, in AZ. Now I never said people in AZ were smart! Each area of the US is different.

[janie]

"However, the main concern on appraisers, mortgage people and buyer's, for resale value, some people, no matter what, come hell or high water, will not buy anything that is remotely manuf or modular, which makes it harder to sell."

Yep, what Annaz said. The stigma. I live in an area where my land value has doubled and then some in the last few years. MH's on land do not appreciate like a site built does. Just fact. Also people definitely have a pre-conceived notion about you and your family by what you live in. You can live in a 1972 single or a 2004 modular home, if it came to the site in pieces you're still so and so in the trailer living on whatever st. I don't agree with it but it's life. My site built with land is assesssed at 205K and it's nothing special, ranch style. Similar ranch style MH, ground set, 2 blocks away, but with spectacular rock fencing, beautiful landscaping I could only dream about, guest house, on same size of property, 4 years old, is assessed at 40K below mine and only keeps going down. All public record. I loved the Palm Harbor homes and hoped to own one someday. But after alot of research and much aggravation from their sales people, I took the route I did. And I no longer live in a "trailer" sad people have that opinion but true. I've been reading this board for about a year, and I guess I post the stuff I do because I just want people to really know what their getting into when they buy a MH.