Value comparison between manufactured home and regular house (cheapest, insurance, construction)
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Let's say two properties, everything being equal, the only difference is A has a regular wood stick house and B has a manufactured home. What should be the approx value ration between A and B?
There's no way to compare. One is a house which typically will increase in value and is permanently in place unless a tornado comes and blows it across town. A manufactured home is a trailer basically. It's not permanently attached to anything. It can be moved. It will not increase in value. It will depreciated like a car.
Same thing, no? It also depends on when the home was built. Today's stick built homes largely are CRAP, and very poor quality, inside, and out. They are made with Styrofoam, and plastic siding or Faux brick. Oh, they kind of look good for about five years, but then you will be replacing all the fixtures. Then parts of the exterior will fail, and need to be replaced after about ten years. Just talk to some Toll Brothers owners.
No a manufactured home is NOT the same as a modular home. Modular homes are built to national building codes and permanently attached to the foundation. A manufactured home is a basically a trailer and is built to HUD standards. It is not permanently attached to anything.
Modular homes increase in value just like a stick built home. Most of the time, you'd never know you're in a modular home unless you're in the basement and you can see where the sections are attached to each other. Manufactured homes always look like trailers inside and out.
Vinyl siding has been around for decades. It lasts far longer than 5 years. Houses aren't made form styrofoam! There's different types of foam used for insulation, but that's it. It's not the structure of the home. Faux brick has been used for decades as well. That lasts for years....well beyond 10 when installed correctly. You do know there are thousands of builders out there besides the Toll Brothers, right?
There's no way to compare. One is a house which typically will increase in value and is permanently in place unless a tornado comes and blows it across town. A manufactured home is a trailer basically. It's not permanently attached to anything. It can be moved. It will not increase in value. It will depreciated like a car.
Maybe I can frame the question differently.
Let's say we have a regular 30 year old stick-built house, 1000 sqft sitting on a 10,000 sqft lot, and is worth $300,000.
Now, you change that house into a manufactured house, which is not meant to be moved, it is permanently anchored to the property, just that it is a manufactured home. How much should this property be worth now?
Let's say we have a regular 30 year old stick-built house, 1000 sqft sitting on a 10,000 sqft lot, and is worth $300,000.
Now, you change that house into a manufactured house, which is not meant to be moved, it is permanently anchored to the property, just that it is a manufactured home. How much should this property be worth now?
If it's a mobile home "manufactured" type, even on a foundation, then the value would likely be that of the lot plus, maybe, a little.
If it's a modular "manufactured" house, like pictured in the post by LifeisGood, then the value would likely be as much, if not more, than the stick built if the other metrics are comparable.
If it's a mobile home "manufactured" type, even on a foundation, then the value would likely be that of the lot plus, maybe, a little.
If it's a modular "manufactured" house, like pictured in the post by LifeisGood, then the value would likely be as much, if not more, than the stick built if the other metrics are comparable.
^^^ Exactly!!
OP, would you PLEASE specify what you mean by "manufactured" home -- which most of us still call "mobile homes" (when I was growing up they were called "trailers"). As you can see from the responses on this thread, the mobile home industry has done a great job confusing MOBILE HOMES (which they now call "manufactured" homes) with MODULAR HOMES, which are NOTHING like mobile homes.
Every single time there's a thread about this -- and OP, there are many (did you search?) -- this confusion is evident.
Let's say we have a regular 30 year old stick-built house, 1000 sqft sitting on a 10,000 sqft lot, and is worth $300,000.
Now, you change that house into a manufactured house, which is not meant to be moved, it is permanently anchored to the property, just that it is a manufactured home. How much should this property be worth now?
A 30 year old trailer is worth absolutely nothing. In many areas, they can't even be moved. They can't ever be put in in many areas. The only value you have is the land. And even that may not be worth what an empty or wooded lot is worth because it has a trailer on it. They are a pain to remove. They are pricey to remove. Many people want nothing to do with them. Trailers aren't like cars...a 30 year old car in great condition can be worth something....trailers aren't classic cars. They're like war torn Yugos.
That's a manufactured home aka a trailer....they were called trailers back in the day....then the government got involved and they became manufactured homes. Definitely not a modular home. I've owned a modular home which is a stick built house in a factory, transported to the site, and with a crane the segments are attached. You can't tell it's a modular house except in the basement and attic.
Let's say we have a regular 30 year old stick-built house, 1000 sqft sitting on a 10,000 sqft lot, and is worth $300,000.
Now, you change that house into a manufactured house, which is not meant to be moved, it is permanently anchored to the property, just that it is a manufactured home. How much should this property be worth now?
Everything depends on the condition of each. With similar upkeep and finishes... the stick built would be worth more than the manufactured. But how much? I'd be hesitant to say as it may depend on the local market. It is NOT true the manufactured home is worth nothing. Obviously, with good upkeep, 20-30 year old manufactured homes like the one in your pictures above can be quite livable, and finance-able.
Everything depends on the condition of each. With similar upkeep and finishes... the stick built would be worth more than the manufactured. But how much? I'd be hesitant to say as it may depend on the local market. It is NOT true the manufactured home is worth nothing. Obviously, with good upkeep, 20-30 year old manufactured homes like the one in your pictures above can be quite livable, and finance-able.
The one shown in the pics is not 30 years old. It was built in 2002. In my area, a 30 year old mobil home is worth a few hundred dollars at best. Most are worthless because they're not in this condition.
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There's different types of foam used for insulation, but that's it. It's not the structure of the home. Faux brick has been used for decades as well. That lasts for years....well beyond 10 when installed correctly. You do know there are thousands of builders out there besides the Toll Brothers, right?
