Modular Homes (Southport, Vander, Calabash: insurance, mortgage, loans)

[Trudy Rose]

I am thinking of moving to the Southport NC area. After looking at some of the home prices, I think buying land and building would be cheaper. Is anyone familiar with "Homes by Vanderbuilt"? Like their reputation, etc.
Any info would be helpful.. Thanks

[Deacon]

Most people think about, worry about and have to eventually deal with the infamous "resale value". For that reason, I would never get involved with a modular home. You get what you pay for -- now and LATER. It is like buying a Hyundai - no offense to the Hyundai owners of the world but WATCH OUT for your resale value when you want to get rid of it later!!

[southernlady5464]

There is a world of difference between modular and manufactured. Resell on modular should be comparable to on site built. And to be honest, modular is typically better built that that built on site.

For more info read here: modularcenter.com - Learn About Modular Homes

If you can, tour a modular center. Liz

[Deacon]

Even though modular homes have come a long way - which by the way were originally "invented" in Japan, they are just that, modular. Modular homes are larger, therefore built in sections and delivered to your site. Manufactured homes on the other hand are less square footage and are completely built in a factory for site delivery. There is nothing better for resale value than a custom built home -- just ask your insurance company, the banker with the interest rates and length of loan allowed! Companies like Countrywide originally started out and depended on loaning out the money for manufactured/mobile home loans and lost their shirts big time. Let there be no mistake, you get what you pay for in the housing business and anything less than a "real" home does not pay for itself in the long run. P.S. Watch out for the cracks in the modular homes walls -- they will not be hard to find -- just check out where all the "boxes" were attached together. Modular and manufactured homes have no personality at all. The secret to an "investment" home is "eye candy" and "options, options, options" -- something only a stick built home can offer you. Anything less is known as a "match box" home. Let us be honest with one another --- all 3 are not hard to individually identify just by a visual curb appeal drive by.

[southernlady5464]

Tell me these are matchbox homes, LOL.
modularcenter.com - The Modular Center Masterpiece Collection of Modular Homes
Or these collections:
Custom Modular Homes.net - modular custom home gallery dealers and manufacturer (check the gallery, esp page 2)
Manufacturer of Custom Modular Homes - Modular Commercial Buildings

And I don't know if you know much about Southern Living but they do NOT put their name on shoddy ANYTHING. Well, this year, one of their Idea Houses is a MODULAR! Southern Living Homes and Decorating: 2007 Florida Idea House: Animated Build Sequence

They have on their site one of the most impressive lists of southern architects and designers possible. Liz

[njprintman]

Originally Posted by Trudeyrose

I am thinking of moving to the Southport NC area. After looking at some of the home prices, I think buying land and building would be cheaper. Is anyone familiar with "Homes by Vanderbuilt"? Like their reputation, etc.
Any info would be helpful.. Thanks

Trudey,
The choice of home/s is yours. Modular and manufactured both have their drawbacks. The most important factor is what YOU can afford.
Judy and I found a double wide w two car garage on a 120x120 lot that will suit us just fine. It is a really nice place.
Of course, we are 64 and we really don't need as much as a younger family.
I mean, at 64 we really aren't concerned about resale etc.
The big problem on the coast/Brunswick County is the cost of "dirt".
Two years ago we priced a small lot 90x120 in the Calabash area and the price was $20k. It now lists for 49K.
The lady who help find our place is a realtor in Southport. Good person.
I am not an expert in construction but I do know good work and shoddy work. Quite a few of the stick built homes going up in Brunswick are "built" real quick and not all that well.
We have friend who had a 300K home built in a rather affluent community and has had nothing but problems.
Again, not every modular manufactured or stick built home is the greatest or the worst.
You just have to search search search to find what fits you and your budget and lifestyle.
All the best
Dennis / Woodlynne (hopefully only until Sept 1st)

[Deacon]

I beg to differ again. All the mags you list are for profit only -- Do you believe JD powers win list of consumers digest winners list? The ones that win in those mags are the ones that pay the biggest amount of advertising dollars. The only true independent reviewer mag in this country is consumers union -- they take no advertising monies whatsoever - from NO ONE. Do not believe everything you read in those mags for profit. In the home building trade, people that believe in blind reviews are called "homeowners".

[southernlady5464]

I may not be able to convince you and we will just have to agree to disagree. But for others that read this thread, the info is there.

I will give you one more thing to think on...my bank, USAA was more than willing to finance a modular just like they did our stick built at the exact same rate, same terms. (I know cause we found one we were considering back last fall but we couldn't move back then) They will not finance a manufactured. Liz

[Sleestak]

Used trailers can be a very inexpensive form of temporary shelter. For the person who has land and is thinking of building their own house, used trailers are hard to beat. Cruise around the mobile home parks, talk to the managers and you should be inundated with choices. Banks don't like to lend money on used trailers(without accompanying land), so the trailers can be bought cheaply. You can have the trailer moved and set up with a power pole fairly cheaply. Obviously, this works better in a rural setting. You might run into problems if you tried this in a gated community. For the person who wants to put some sweat equity into building their own home, this option should enable them to be mortgage free in 5 years or less.

[kareybear]

Originally Posted by Trudeyrose

I am thinking of moving to the Southport NC area. After looking at some of the home prices, I think buying land and building would be cheaper. Is anyone familiar with "Homes by Vanderbuilt"? Like their reputation, etc.
Any info would be helpful.. Thanks

Are you really sure it would be cheaper to build then buy a home? If am not mistaken housing prices has really gone down here this past winter. You really should look into this again. As for Vanderbuilt, It sounds familiar but I can't quite pin point it. Jog my memory. Where do they have homes?