I have to disagree with folks who lump modulars in with mobile homes in any way.
They have one similarity: They're factory built.
That's it.
Our bank appraised our modular (by Integrity Building Systems in PA) for our construction loan, exactly like a stick-built home, and we received very competitive interest rates and have not been treated like second class citizens in any way. In fact, at no point did anyone even ask if the house was stick built vs. modular.
1. Modular homes are built in climate-controlled facilities, by people who have a specialized task to perform. The materials are machine-measured and there's very little margin of error; certainly less than a guy with a tape measure out in the blazing sun. There's none of the typical "Oh, geez, it's raining. Let me throw this together and get out of the storm". Also no exposure to the elements i.e. raining in a partially built home.
2. Modular homes are built to withstand the hardships of traveling hundreds of miles over the road on the back of a truck.
3. Modular homes are built to meet codes in large regional areas, not just in your particular town. So, your house may very well be built to standards that actually exceed your local building departments' requirements.
4. Modular homes are appraised, bought, and sold just like stick built homes. When it's time to sell your modular home, there is no statement that you're required to make about it being a manufactured home. Because it's as good or better than a stick built home. The only way to tell is if the buyer finds the code sticker which is usually hidden in a cabinet or closet within the house.
Our house cost $206K including many on-site custom features. I'm sure in other areas of the country it's far more reasonable. To put it in perspective, our 1/2 acre lot cost us more than our house: $215K!
The only thing to watch out for is making sure the finish work is done by a reputable contractor. There were several items after the house was assembled that we were not happy with; i.e. a shoddy spackle job or carpet job. This is not a problem related to the modular home, however.
We are thrilled with our modular and would recommend it to anyone. It took a little over 3 months to complete, during which we lived in a travel trailer on the property, and we couldn't be happier. (Note: it sure is cold for that midnight tinkle in a porta john in November!) Our home is already valued at around $475K and I fully expect the value to increase.
Anyone who feels a permanent home of any sort will decrease in value, I would be interested in seeing some sort of data on that; aside from fluctuations in the market or gross neglect, I've never seen a home actually decrease in value as it aged.
This link is to a group of pictures of our house being built. It was truly one of the most exciting times of our lives and we'll never forget it! These pics are from the demolition of the "bad house" which we lived in for a year and a half until we got our financing squared away, almost to completion of the home. August 13 was demolition day, and we had our CO on Christmas Eve.
http://picasaweb.google.com/frankieg...ConstructionNJ
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I hope you and your family will be happy for many years in that cozy home!
modular housing
And of course they're never the builder's fault 
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