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Can someone give me some idea about the manufactured homes in NC? I've seen the words double wide, manufactured, trailer and modular used in these forums and in real estate ads. I don't think they're all the same thing, but I've seen the terms interchanged.
I've seen real estate ads for "manufactured" homes approx. 1300-1500 sq ft on 1/2 to 1 acre lots. They've been priced from around $38,000 to $50,000. Are these homes located in trailer parks or are they something different? Are they considered to be safe places to live? What is their reputation, and do they tend to sell and appreciate/depreciate at the same rates as regular construction homes in the area??
Anyone who can answer any of my questions, it would be appreciated. Thanks
Can someone give me some idea about the manufactured homes in NC? I've seen the words double wide, manufactured, trailer and modular used in these forums and in real estate ads. I don't think they're all the same thing, but I've seen the terms interchanged.
“Manufactured home” is just that: construction (typically) takes place in an enclosed, factory-style environment. They don’t take that long to construct; usually a week or so. They come in single, double and, often, triple-wide units, built on a metal floor frame and mounted on wheels – that’s how it’s brought to the home site. Single speaks for itself: you basically have what looks like a long boxcar. Lengths vary, width is typically 12, 14, or 16 feet. Double-wide: the house is built in two sections – split down the middle -hauled to the home site, and joined together. A triple wide is (from what I’ve seen) a double-wide with an addition, usually a family room.
Manufactured homes are cheaper than stick built by virtue of the fact that they are built quickly, of cheaper materials They are popular; you can have an 1800 sq ft dwelling for under $60,000 that is set up and ready to move into a lot faster than having a house built. Some are set up in trailer parks (that’s a popular option for the senior communities in the snow bird states). In NC, people usually buy land and then have a manufactured home delivered and set up. Some of the sales offices will offer “land & home” packages: you pick from their inventory of lots, choose the model of manufactured home you want, and they do the rest. Some manufactured homes are set up on property with an aluminum “skirting” around the bottom. Others have foundations, but it’s a case of placing the house on the spot and having the foundation placed afterward.
Modular homes are (typically) built in more than one section. You can have a 2-story, 2400 sq ft house that is brought to the site in four or five sections on a flatbed versus the manufactured house which is hauled to the site on its own wheels. Even though they are also constructed in a factory environment, they end up looking more like a real house than a manufactured one. Modular is more expensive than manufactured, sometimes almost equaling the price of stick built, but you have the advantage of time and, much of the time, better material.
Personally, I’d stay far, far away from the manufactured home. We’ve had experience with them and it was all negative. We didn’t like the atmosphere of the various sales lots we visited, feeling like we were being huckstered to buy a used car from a ubiquitous loud jacket attired salesman in most places. The setup on the land went so bad. They attached the plumbing wrong and we had hot water flowing into the toilet; they never finished all the inside trim - we completed that ourselves; the installer ran out of skirting and it took a score of calls, including one that mentioned “lawyer”, to get him to finish it.
Not everyone has such a bad experience, but you have to realize that you aren’t going to have a true “house” with a manufactured building. It’s certainly not as safe as stick built. All tornado warnings differentiate the actions to take if you live in a manufactured house: GET OUT! Just look at pictures of Midwest tornado damage. Houses are destroyed, manufactured homes basically disappear, leaving the metal floor frame they are constructed on. It will usually depreciate in value, unless it’s in a hot real estate area. You can make them look more like a house; we did; but it meant replacing the faux wood molding with real wood, paint and wallpaper to cover the cheap looking wall material, replacing lights and fixtures and flooring – I’d say that we spent about 50% of the original cost of the building in upgrading it to our standards.
If we had to do it all over again, we absolutely would not have gone with a manufactured house. Other people have gone that route and been satisfied; it all depends on the purchase and set up experience, and standards one has for a dwelling. We would have, at the very least, gone with a modular, though they weren’t as widespread a choice all those years ago.
Manufactured home sales lots are all over the place in NC. Some also have modulars, so you can compare between the two types. If you are interested, visit as many lots as possible. Also, look at your financing options. A lot of banks don’t finance manufactured homes; you’ll have to go thru a finance company which may have less advantageous terms. We did that, and then refinanced once the house was set up and we had built a brick foundation. It’s at that point that it becomes “real estate” and is thought of in the same terms as stick built by the bank.
Again, *I* can’t recommend a manufactured home. If you're looking for something cheaper than stick built, that will go up on your property faster than stick built, go a little farther cash-wise and get a modular house.
Word to the wise, do not get a manufactured home anywhere near the coast. I would go for a modular home. They usually come into the landsite on a large trailer in two or more pieces and are constructed on the site and once together, they look like a conventional stick built home. Costs can vary widely though so do your homework. I have nothing against the conventional double wides but they don't do well in hurricane and torndo prone areas.
He is right. Some places do not have the zoning for modular homes even though they can be costly and look like stick built homes once they are together. We didn't flood during 1999 Floyd. Up until that point there were two houses on the street we live on, ours and Robert's. Both were built from the ground up. Ours was built in 1984 and Robert's in 1992. After Floyd, all the modulars came in and there was a big hoopla about it. But the county commissioners finally signed off on it and these critters can be expensive. I mean one just sold here for $104,000.00. We only paid something like $60,500.00 for a brick ranch with 1700 square feet of heated space in 1992. To me the asking price of the modulars were a little on the high side. Although I haven't had my house appraised lately either. Last I heard they had it at about $110,00.00 so maybe it is in line with the other dwellings around here.
Thank you all for your responses. That's what I was afraid of. Since you're all so knowledgeable and helpful, I'll tell you why I was asking and maybe you have some better suggestions.
I'm looking to move to NC, but I really want to explore different areas and get a feel for the different towns. I'm in CT and my ability to travel to NC for extended periods of time is too difficult. I don't want to make a rushed choice on such an important decision as where to live. Here's the real catch...I have two elderly pets (cat & dog). I rescued the dog 3 years ago. He is deaf and blind with a host of other issues including the fact that he doesn't let anyone touch him or near him except me. Any trips to NC to look at real estate will have to be by car and with the dog. (The joke among friends here is that I'm actually HIS seeing eye dog!!)
I think I need to go to NC, find temporary housing, and then search for real estate. A lot of places take one pet, not two. I've seen manufactured homes approx. 10 years old for sale that are already existing on property. I don't want to buy a new one and have it placed somewhere.
My thinking was if I spent $40,000-$50,000 on a manufactured home that is already situated on a piece of property, I could live there with my two pets for 6 months to a year while I explored NC and found a stick-built home to move to permanently. (Essentially buying my own short-term housing rather than paying $8,000-$10,00 in rent over the course of a year.) Then I could sell the manufactured home or possibly even use it as a rental property. If I sold it for what I paid for or even $8,000-$10,000 under, I would come out even and have had a place for me and my pets to live. I plan to buy a house outright with the equity I have in my current house so financing is not an issue.
Is my thinking crazy or unrealistic??? (You won't offend me if the answer is yes Any thoughts or suggestions for a different way to do things considering my circumstances? Thank you.
Well, the double wide or manufactured home is going to depreciate in value where as a modular or stick built home will increase in value. I would look for a starter home that was stick built perhaps. And then later down the road you could upgrade to a nicer home and rent out the starter home. You could probably find about a 1000 square foot home that is 15 years old for the price range you are talking about if you don't look in the higher end places for it. They sell them everyday down here where I am in Greene County. Although I would suggest moving here unless you have some contacts in
Greenville, NC for instance. But I don't see you accomplishing anything by buying a double wide or manufactured home on the high end price that you are talking about. Now if you were to run across on that was under $20,000.00 like my friend did when she was flooded out by Floyd in 1999, I might would consider it. But to sink $40,000.00 in a mobile home, manufactured home when I am sitting here in a 1700 square foot brick home that was stick built in 1984 and bought by us for $60,500.00 in 1992 doesn't do it for me. I wouldn't do it. But again you have to consider where you are going to be also. I am sure where I am the housing cost are a lot less than in the cities without a doubt. Down here you can buy a pure mansion for under $250,000.00. Now on the other hand if you are sure that you are going to only be in it a year, it might be something to consider. I have lived in many mobile homes during my life time. And the one thing that I have learned that after about the 5-7 year life span, they start coming apart in places that just aren't that easy to fix. The roof will leak or the panel starts buckling. I am not too good to live in one because I have seen the day I would have lived in one and been happy as a lark about it. I am just using the information that you have given us and I am telling you what I would do with the resources you have. Another option would be relocating the manufactured home to the coastal areas once you got into a permanent place. But I can almost without a doubt guarantee you that the first hurricane that come is will take it out. So I just don't see the logic. But there are a lot of people that do it. My reasoning for telling you this is that most of the people I deal with don't have $40,000.00-$50,000.00 to do something with. They have to do the best they can. Greene County is a poverty county which is where I live. Good luck. Maybe someone else can give you some sage advice here as well.
Is my thinking crazy or unrealistic??? (You won't offend me if the answer is yes Any thoughts or suggestions for a different way to do things considering my circumstances? Thank you.
If you have the temperament to do the search for a place, deal with the purchase and maintenance (seems the problems don't crop up until after you move in), then the later resale, you might be able to make it work.
Another idea - I met someone who actually did this - is to buy a small RV. That way you can be more mobile. A couple years ago I met a woman in her late 50s in a campground. She and her two pets were living in a popup RV that she pulled with her mini-van. She was retired and looking in NC, TN and VA for property to settle on.
You already talk about spending $40-50K. If you are the adventurous type (living in an RV takes someone with a bit of a gypsy attitude ), I'd check that option. Selling the tow vehicle and RV later would probably be a lot easier than selling or renting out a manufactured home that has been through several owners.
For your purposes, it might work. The only problem is that even though you're paying cash for it, if you decide to sell it the person that comes along to buy it may need financing and it is very difficult to get financing on a 'used' manufactured home. So you would probably be better off renting it out (although that is a headache) until it fully depreciates and then sell off the land.
If you decide to go that route, I would recommend finding one on the nicest piece of land that you can and not in a manufactured home community. That way you can expect that the land will appreciate somewhat to make up for your loss on the home, and would be more desireable to the next buyer. I am a Realtor and I am always telling my clients to buy with resale in mind!
Or...an RV sounds like a great solution too.
Good luck in whatever you decide!
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Any thoughts or suggestions for a different way to do things considering my circumstances? Thank you.
