Modular Homes - Does anyone have any opinions (rentals, refinance)

[rheaburris]

We own a Clayton home and are 98% satisfied. The only thing we are dissatisfied with is something that we did to ourselves. We tried to save a few bucks and went with the wall papered panels instead of the sheetrock and finishing. It is worth the additional cost. Especially when you go to resell the home.

[cas2006]

Having lived in a modular home....concrete, rebarred 48" deep, 12" wide foundation and reinforced roof for snowload....for the past 10 years I can attest that they are very well built indeed. Where you will run into problems...and I still can't figure it out...is if you want to refinance or get an equity line/loan. Many mortgage companies will not loan on a mod. home and those that do are very restrictive, i.e. max 20 year loan or max 65% of value (LTV). I think it must be a holdover from when the mods were not so well built but not sure of this. Not sure about resale...I don't plant to move or sell...but I have refinanced. Though it was worthwhile (7.75% to 6%), it was a real pain.

[Nocturne]

Our home (a $98,000 manufacured home) came from Clayton in Rock Hill. We're currently involved in a lawsuit with the company. (http://www.manufacturedhomebuyers.co...n%20ordeal.htm) I would advise caution. Good luck.

[lovesMountains]

Originally Posted by Nocturne

Our home (a $98,000 manufacured home) came from Clayton in Rock Hill. We're currently involved in a lawsuit with the company. (http://www.manufacturedhomebuyers.co...n%20ordeal.htm) I would advise caution. Good luck.

Clayton is bad news, just the worst. I would avoid them too. Sorry for your trouble.

[theflynns]

Hey!
I'm located in the Northeast (NH, specifically), so bear with me...

I ask the question modular vs mobile because as a former Realtor up here, there was always some confusion over the differences. I can speak about modular homes from personal experience.

We bought our house in 2003; it was two-years old at the time and was the model home for our subdivision (had never been lived in). Since it was already placed, we didn't have to worry about a construction loan. (Look around...many companies can offer new construction modulars as a straight mortgage, no construction loans).

When we had our home inspection before we bought our house, our inspector (knew well and trusted him) stated the house was built more substantially than many stick-built homes he was used to seeing. We have a 2100sf fully-dormered cape with a full nine-foot clearance basement. Other than some typical settling with some minor cracks at taped joints and some screw/nail heads popping (drywall), we have had no problems. The house is sound, well insulated and does not appear any different than stick-builts in the neighborhood. We have more studs and supports (due to transport needs); the floors don't creak, and (because of the insulation) I have deep windowsills and doorways. All in all, very happy!

[lovesMountains]

Originally Posted by theflynns

Hey!
I'm located in the Northeast (NH, specifically), so bear with me...

I ask the question modular vs mobile because as a former Realtor up here, there was always some confusion over the differences. I can speak about modular homes from personal experience.

We bought our house in 2003; it was two-years old at the time and was the model home for our subdivision (had never been lived in). Since it was already placed, we didn't have to worry about a construction loan. (Look around...many companies can offer new construction modulars as a straight mortgage, no construction loans).

When we had our home inspection before we bought our house, our inspector (knew well and trusted him) stated the house was built more substantially than many stick-built homes he was used to seeing. We have a 2100sf fully-dormered cape with a full nine-foot clearance basement. Other than some typical settling with some minor cracks at taped joints and some screw/nail heads popping (drywall), we have had no problems. The house is sound, well insulated and does not appear any different than stick-builts in the neighborhood. We have more studs and supports (due to transport needs); the floors don't creak, and (because of the insulation) I have deep windowsills and doorways. All in all, very happy!

Thanks for the testimony Once people begin to understand that true modular homes ARE NOT the same as manufactured or mobile homes this construction style will become the wave of the future. Oh, that's not just my opinion - Bob Vila and Clark Howard have both stated this

[FLRich]

There were comments made previously on the thread about Clayton vs. Superior. Someone implied that Clayton and Superior are the same but I do not know what this assumption was based on.

I know that their lots are next to each other on Anderson Rd. but I do not assume anything from that. It would be the same to assume GM,Toyota, Ford are the same since many of the dealerships are next to each other in many parts of the country.

I am not saying they are or are not the same but if someone has facts to attest to this please let us know so we can follow up on the the facts.

[Dee Ueckert]

Originally Posted by sheilaramos

....My husband and I have been looking into purchasing a MODULAR / PRE-FABRICATED HOME.... from a dealer in rock hill south carolina (clayton homes).

Has anyone had any experiences with the purchasing of a modular home and/or experiences with the dealers good or bad that they could share or things we should watch for.

What about quality of the homes? Do they stand up to normal wear and tear?

I have heard some horror stories with regard to them being set up and put together and was wondering about anyone else's experiences.

I hope i can help, we live in a mobile home now. I wish I had never gotten one, we bought it for the land. We lived in a house in Ga. we could always fix it . Here in a mobile it does not last very long with children and pets.
I HATE LIVING IN A MOBILE HOME.......................
We have been living here going on seven years too.
give me a house anyday, but the big one is this......
You never make any money on a mobile , i am finding out now since we have our home on the market. Your investment of your mobile goes down over the years and there is a time line too.
When you buy a house, that investment will keep going up with vaule.
Be very careful and check things out first. Never beleive the dealers.
I checked some out the other day and he told me all kinds of stuff that you want to beleive, but the truth is when you go to sell your home the BANKS and Insurance do not tell you the samething. It is even hard to find some Insuranc Co. to cover you too. Special if it is used.
I hope i could help you out.
good luck
dee

[ellie]

I live in a 50 year old Jim Walter home and think it's just fine, UGLY, but fine.

It's been added on to, upgraded, and generally well-maintained over the years. It looks like a wooden model of a double-wide trailer but it is solid as a rock. I bought it when I went back to grad school and it was by far the nicest house for the least amount of money.

I have a friend who ordered a custom built modular home which looks better than almost any house in their upscale beachfront neighborhood. It has a wind rating of up to 150 miles an hour. From what I can tell, there are high quality modular home builders out there. Finding them is the problem.

[lovesMountains]

Originally Posted by ellie

I live in a 50 year old Jim Walter home and think it's just fine, UGLY, but fine.

It's been added on to, upgraded, and generally well-maintained over the years. It looks like a wooden model of a double-wide trailer but it is solid as a rock. I bought it when I went back to grad school and it was by far the nicest house for the least amount of money.

I have a friend who ordered a custom built modular home which looks better than almost any house in their upscale beachfront neighborhood. It has a wind rating of up to 150 miles an hour. From what I can tell, there are high quality modular home builders out there. Finding them is the problem.

I love that wind rating! That's one reason to have a modular in an area that is hurricane prone for sure.

Now I have a new wrinkle to add to the conversation...I only recently discovered another type of modular home - the LOG CABIN modular home! Anyone know anything about these homes?