Resale of Manufactured Homes? (insurance, mortgage, modular homes)

[Jerseyt719]

I have a question, I'm hoping one of you can answer. I went and looked at a home and it was really nice.
It was a manufactured home that I had no clue and still wouldn't if I weren't told. It's on a foundation.
How is the resale of these homes? Is it the same as a stick built?
Thanks in advance.

[ottomobeale]

I can not answer the question but whoever does will need to know whether it comes with a deed or a title.

[Jerseyt719]

A deed like any other house. Not a title like a car. It isn't a trailer or mobile home. It's a two story colonial on a basement/foundation. Like I said, had they not told me, I wouldn't have known.
My mother lived in a modular (?) in South Carolina and as pretty as it was, I could tell, no foundation, etc. Just a different look and feel inside. Paneling on the walls, walls felt thin.
This house has sheet rock and really looks and feels like any other house.

[wileynj]

Originally Posted by Jerseyt719

I have a question, I'm hoping one of you can answer. I went and looked at a home and it was really nice.
It was a manufactured home that I had no clue and still wouldn't if I weren't told. It's on a foundation.
How is the resale of these homes? Is it the same as a stick built?
Thanks in advance.

One plus...modular homes typically have a lower tax assessment than non-modular homes!!! At least in my neigborhood. My neighbor has a modular...it's larger than my "stick built" and his taxes are the same as mine. He said it's because it's a modular. I would have never know it was a modular unless he told me. Nice house...3 car garage... I can't see it effecting resale.

[joe moving]

Modular homes have to be built to local code. I would absolutely buy/build/own a modular. People who do not understand what they are still assume that modular is mobile.

I am pretty sure that the term "manufactured home" infers mobile home, so the correct word would be modular.

[Roselvr]

Originally Posted by Jerseyt719

A deed like any other house. Not a title like a car. It isn't a trailer or mobile home. It's a two story colonial on a basement/foundation. Like I said, had they not told me, I wouldn't have known.
My mother lived in a modular (?) in South Carolina and as pretty as it was, I could tell, no foundation, etc. Just a different look and feel inside. Paneling on the walls, walls felt thin.
This house has sheet rock and really looks and feels like any other house.

We were going to put one up if we could find property. My dad had one built by Excel, they make a very nice house.

My dad passed away, we were going to buy his but it fell through so we bought new construction. Let me tell you, my dad's house had less problems then we do and we've only been here a month. I don't recall any nail pops, carpet install was tops as was the flooring. I know the finishing is all on the builder who did a great job.

[BobKovacs]

As mentioned above "manufactured home" is the new terminology for a "mobile home". They are not the same as "modular homes", which are basically stick-built homes that are assembled in a factory and shipped to the site. "Manufactured homes" are built to a different code, and are generally not seen as appreciating assets. Make sure you know which you're buying.

[Jerseyt719]

Ok, then, let me rephrase, it is a modular. Not a mobile.
I'm really surprised at everyone saying they would not hesitate to buy one. That lifts my spirits about it.
So I guess then, resale is not even a question?

[camaro69]

Manufacturered homes are built better than stick built.

Remember that they need to be flat bedded to a location and assembled. No stick built home would be able to do that.

Just in general stick built homes are garbage compared to homes built many years ago. Tell me, do you think your "newly" built home will still be standing 100 years from now?

[marye711]

I had a modular in Pa and sold it after 9 months and made a decent profit....I loved that house but it was time to come back to NJ. Mobile homes dont have much resale value and very hard to get insurance and a mortgage for them.