+ Reply to Thread
Page 1 of 2 1 2 LastLast
Results 1 to 20 of 25
  1. #1
    Shallow and Pedantic
    Join Date
    Jun 2007
    Posts
    4,726
    BG Level
    7

    Modular Homes vs Conventional

    Anyone have any sort of experience with buying land and putting a modular/manufactured home on it? Dealings with financing? Timelines? Review if you are a buyer?

    Looking for basic information like cost vs just buying a house like normal human beings.

    My wife and I are in the market and looking around $3-400,000 for a home in Connecticut and are looking at Modular homes but not sure what to expect and would like some potential feedback.

  2. #2
    I like to eat food
    Join Date
    Jun 2007
    Posts
    6,763
    BG Level
    8

    I can't help much, but I can say that manufactured/modular homes come in so many variations now that you can really customize to your liking as long as you find the right builder. My mom had a house in South Carolina fabricated from a base model, adding on extra rooms, a screened in porch, fireplace in the living room, etc. You can customize everything in these houses now. Took a couple months to get it out of the factory, and then a bit more to get it all hooked up and livable. Not sure if that's good or bad, or even exact timing. I wasn't paying that much attention to how long it was taking all in all.

    What I would watch for, if you haven't looked into it already, is when you're buying a lot you can't use your standard mortgage. Again, can't go into much detail, but a very good friend of mine bought some property about 45 minutes north of me. There was a small hunting cabin on the property, but it didn't qualify as a home since it did not have electric, water, or septic/sewer hook ups. He said he had to pay up front for the lot itself and then took out a construction loan for the house. Basically ended up paying several tens of thousands in cash for the property, originally thinking he'd go into it with a small mortgage or loan he'd pay off in a couple years.

    I'm going to guess there are different loans you can use for buying a lot, versus a conventional mortgage, but if you were just looking to get through with one simple loan you may need to look into it some more. Then again this was in NY, maybe it's different in CT?

  3. #3
    Special at 11:30 or w/e
    Sweaty Dick Punching Enthusiast

    Join Date
    Feb 2012
    Posts
    7,304
    BG Level
    8
    FFXIV Character
    Kalmado Espiritu
    FFXIV Server
    Gilgamesh
    FFXI Server
    Odin
    Blog Entries
    1

    I do not have personal knowledge regarding the process but figured I'd chime in about the home. Make sure it's modular and not manufactured, even though I doubt there is any manufactured home for that much money. I spent like 5 minutes one day reading about buying land for a home and a number of sites said to make sure the land is thoroughly inspected. A guy had a story about not crossing all the t's and where they thought they were going to build had a ton of limestone underground.

  4. #4

    not sure if a modular home is the same thing as a mobile home, but i lived in a double wide mobile home at one point as a teen. parents bought a third of an acre and put it on there for about 80 grand i think. was on a foundation, and was surprisingly homelike. i mean, you could kinda recognize it was a mobile home because when you walked there was a slight reverbation that came from it being basically a box on a hollow foundation, but i didn't find it annoying. kept fairly warm in winter as well, despite a blizzard one year and 10F temps. that said, sound insulation wasn't as great as a normal home, being thinner material, but we were in the woods so it wasn't exactly an issue - in fact, i actually could hear the snow falling on the house due to how quiet the area was and the thinner walls. was pretty relaxing.

    as far as the setting up of the house i don't recall it taking terribly long - basically the company went through and razed a spot for the house and driveway, septic tank and all that, and uh... left a rather ugly mess. bare clay, no topsoil, just bare ugly ground. the leftover clay was surprisingly fertile though - we planted a garden and the plants took off like weeds. a butterfly bush we planted shot up from a 1 foot bush to a 10 foot monster in one season.

    i guess i would pay special attention to the sound insulation of whatever home you get compared to the area you live in - poor sound insulation may be nice if you're in an isolated area and don't mind hearing what's going on in your house, but if you're in a place with a lot of noise you might not appreciate such a close connection to your surrounding area.

  5. #5
    The Shitlord
    Join Date
    Feb 2008
    Posts
    10,326
    BG Level
    9
    FFXIV Character
    Kharo Hadakkus
    FFXIV Server
    Hyperion
    FFXI Server
    Sylph
    WoW Realm
    Rivendare

    yeah the types of loans you'll have access to will vary based on the infrastructure at the property; if it's JUST a plot of land, you might not get much savings over a normal house. if it has hookups or a septic or hell even a house you can tear down and build over, that improves things. you'll wanna talk that over with your bank; they should be able to give you a rough idea of the type of property you wanna look for.

    as far as modular goes, i've heard positive things. i've looked at some that i thought wouldn't be bad to live in. most ive seen have been one step up from a trailer-home, though, and i hated the way they felt.

    Tinyhouses are getting more and more popular, with the hardest part often being finding a place to park them, which you'd solve with property.

    otherwise, if location isn't a huge deal, i know 300-400k will go a LOT further in the midwest than it will east of the Mississippi or on the west coast. 300-400k in southeast MN, for example, will get you a brand new 4-5 bed 2+ bath in the suburbs, or a smaller home downtown.

  6. #6
    The Anti Miz
    The Anti Miz of the House of Weave

    Join Date
    Feb 2007
    Posts
    30,712
    BG Level
    10

    GET A TINY HOUSE

  7. #7
    Shallow and Pedantic
    Join Date
    Jun 2007
    Posts
    4,726
    BG Level
    7

    For anyone interested in reading about what modular homes are, here is a link. They are nothing in comparison to mobile homes. Appreciate the feedback so far. I have heard both good and bad stories. I think the biggest part that scares me is the buying of land for building.

    http://www.ctvalleyhomes.com/docs/in...lans=Two-Story

  8. #8
    Salvage Bans
    Join Date
    Aug 2008
    Posts
    786
    BG Level
    5
    FFXI Server
    Shiva

    My only experience with a modular home was one that I did some construction work in. The company I was with at the time was in charge of cleaning up the joints where the house pieces were assembled. Patching the drywall, taping it, and painting it.

    Mind you, this was 8ish years ago. I remember the walls being really think in places where the house pieces came together. Like, the walls became double wide 2x4 walls (7 inches thick total). Also, there was one joint in the staircase that led from the ground floor to the 2nd that kept cracking because the house pivoted in the wind slightly and this joint kept stressing. We ended up taking down all the sheetrock and re-orientating it over the joint to stop it. Which sucks in a modular because they glued the rock to the studs as well as screw it so it's more stable for shipping.

  9. #9

    Toyota does these in Japan...for anyone who wants more info/examples...
    Spoiler: show





  10. #10
    The Anti Miz
    The Anti Miz of the House of Weave

    Join Date
    Feb 2007
    Posts
    30,712
    BG Level
    10

    Quote Originally Posted by Omnipotent View Post
    For anyone interested in reading about what modular homes are, here is a link. They are nothing in comparison to mobile homes. Appreciate the feedback so far. I have heard both good and bad stories. I think the biggest part that scares me is the buying of land for building.

    http://www.ctvalleyhomes.com/docs/in...lans=Two-Story
    land a gr8 investment fam, however i've no idea how to get it plumbed for sewer access and added to the electrical grid. imagine that shit is a red-tape NIGHTMARE

  11. #11
    I like to eat food
    Join Date
    Jun 2007
    Posts
    6,763
    BG Level
    8

    Hire a contractor and they should take care of all the permitting and bullshit.

  12. #12
    Special at 11:30 or w/e
    Sweaty Dick Punching Enthusiast

    Join Date
    Feb 2012
    Posts
    7,304
    BG Level
    8
    FFXIV Character
    Kalmado Espiritu
    FFXIV Server
    Gilgamesh
    FFXI Server
    Odin
    Blog Entries
    1

    My wife and I have talked about when we're ready to buy our permanent home (unless we retire out of the US) we are leaning heavily on doing a modular in the country. For us, the land and location is the most important part but we're not crossing that bridge for at least another four years. While you can refinance a modular, you cannot a mobile. Also, I'm not sure how good modular does for resale. That's my only concern.

  13. #13
    Salvage Bans
    Join Date
    Feb 2008
    Posts
    980
    BG Level
    5
    FFXI Server
    Bismarck

    My parents were looking into doing this last year. They got the final price and a spot near the lake they liked, but the price to pour the concrete pad was somewhat expensive. They never went through with it though because they'd have to pay capital gains on their current house from owning a small business.

  14. #14
    Shimmy shimmy ya shimmy yam shimmy ya
    Sweaty Dick Punching Enthusiast

    Join Date
    Nov 2007
    Posts
    21,841
    BG Level
    10

    Figured I'd ask here instead of starting a new thread.

    I'm looking into buying a corner building in NJ. I currently own two homes, at one time I had three, so the process itself is nothing new to me. Made a pretty penny off the sale of the third home, and feel like I have a huge opportunity on my hands with this situation.

    This is completely different from my previous purchases; as it is a building with a town home on top, and on the bottom a bar that currently has a liquor license. If you didn't know, obtaining a liquor license in NJ is notoriously difficult. It is limited to population and issued to the property, not the individual. The current owner is willing to sell it to me at roughly 370k~, dropped from 410k~, and until a proper appraisal I'm convinced the value is at least 700k. My concern is dealing with the bar.

    I won't run the bar myself. I plan on leasing it, raising it's rent out the ass from it's current state. The more I read into it though, it seems the liquor license also works on a points system as far infractions are concerned, i.e. selling to minors, bar fights, etc. Accumulate enough points and the state pulls your license. New owner inherits any old infractions.

    Furthermore, NJ property tax seems ridiculously bonkers! Where as in I'll pay 800 in CO, 4.4k in VA; with this property I'd pay 8.9k which is fucking absurd!

    What do you think BG? Crunching numbers it seems like I'd be really hinging on getting the property underpriced while collecting an exorbitant amount of rent for the bar.

  15. #15
    You wouldn't know that though because you've demonstrably never picked up a book nor educated yourself on the matter. Let me guess, overweight housewife?
    Join Date
    Mar 2006
    Posts
    20,025
    BG Level
    10
    FFXIV Character
    Allyra Arianos
    FFXIV Server
    Sargatanas
    WoW Realm
    Windrunner

    Quote Originally Posted by Omnipotent View Post
    Anyone have any sort of experience with buying land and putting a modular/manufactured home on it? Dealings with financing? Timelines? Review if you are a buyer?

    Looking for basic information like cost vs just buying a house like normal human beings.

    My wife and I are in the market and looking around $3-400,000 for a home in Connecticut and are looking at Modular homes but not sure what to expect and would like some potential feedback.

    So I only know a little about modular homes, but I grew up in CT so I can at least give you some food for thought to research:

    Depending on the area you are buying: How old would the conventional home be?

    For the modular home: research the quality of the materials and review the company for long-lasting products.

    The problem with CT is you get every weather beating the shit out of your house. A modular home is going to be better for you if you are comparing it to an older home that has gone through the ringer (and no matter how nice they are, they all have because you can't avoid the snow, hail, hurricane, etc. etc. that's been wearing away at it year after year.)

    My mom's home is about the same age as mine in CA, and despite my parents always taking good care of it, you can tell theirs is in poorer condition by a ton. My friends bought one of those Victorian homes (built ~1890s) and are now in bankruptcy from all the repairs they've had to do to it.

    Now, a quick google search leads me to believe that modular homes used to not be great at weather but for w/e reason (complaints, demand, something) they are now making them a lot better weather resistant. But that means for sure you have to look at the company to see how they are doing that.

    You also could just buy the land and have a home build right there.


    Either way if you can afford a good trust-worthy company to do the module home (or build right there) and can wait, I would be for that. It means getting exactly what you want in your home, and it will be brand new.

  16. #16
    Smells like Onions
    Join Date
    May 2015
    Posts
    5
    BG Level
    0

    The only problem with modular homes, is demonstrated in the first few replies. They are not mobile homes, trailers, etc... but people can't look past that stigma. Even though modular homes are built right and even exceed the construction practices of a stick framed house, they plummit in value the moment they are put out on the land because people cannot get past that comparison. That being said, I think now is the right time to get one. They are still cheaper than they will be and people are starting to finally look past that unfair analogy.

  17. #17
    Annihilation Banwave
    sprout sprout sprout
    2031 No.1 Draft Pick
    Pittsburgh Penguins

    Sweaty Dick Punching Enthusiast

    Join Date
    Aug 2006
    Posts
    19,623
    BG Level
    9
    FFXI Server
    Bismarck

    Quote Originally Posted by Xno Kappa View Post
    Figured I'd ask here instead of starting a new thread.

    I'm looking into buying a corner building in NJ. I currently own two homes, at one time I had three, so the process itself is nothing new to me. Made a pretty penny off the sale of the third home, and feel like I have a huge opportunity on my hands with this situation.

    This is completely different from my previous purchases; as it is a building with a town home on top, and on the bottom a bar that currently has a liquor license. If you didn't know, obtaining a liquor license in NJ is notoriously difficult. It is limited to population and issued to the property, not the individual. The current owner is willing to sell it to me at roughly 370k~, dropped from 410k~, and until a proper appraisal I'm convinced the value is at least 700k. My concern is dealing with the bar.

    I won't run the bar myself. I plan on leasing it, raising it's rent out the ass from it's current state. The more I read into it though, it seems the liquor license also works on a points system as far infractions are concerned, i.e. selling to minors, bar fights, etc. Accumulate enough points and the state pulls your license. New owner inherits any old infractions.

    Furthermore, NJ property tax seems ridiculously bonkers! Where as in I'll pay 800 in CO, 4.4k in VA; with this property I'd pay 8.9k which is fucking absurd!

    What do you think BG? Crunching numbers it seems like I'd be really hinging on getting the property underpriced while collecting an exorbitant amount of rent for the bar.
    Do it.

  18. #18
    Special at 11:30 or w/e
    Sweaty Dick Punching Enthusiast

    Join Date
    Feb 2012
    Posts
    7,304
    BG Level
    8
    FFXIV Character
    Kalmado Espiritu
    FFXIV Server
    Gilgamesh
    FFXI Server
    Odin
    Blog Entries
    1

    Quote Originally Posted by Xno Kappa View Post
    Figured I'd ask here instead of starting a new thread.

    I'm looking into buying a corner building in NJ. I currently own two homes, at one time I had three, so the process itself is nothing new to me. Made a pretty penny off the sale of the third home, and feel like I have a huge opportunity on my hands with this situation.

    This is completely different from my previous purchases; as it is a building with a town home on top, and on the bottom a bar that currently has a liquor license. If you didn't know, obtaining a liquor license in NJ is notoriously difficult. It is limited to population and issued to the property, not the individual. The current owner is willing to sell it to me at roughly 370k~, dropped from 410k~, and until a proper appraisal I'm convinced the value is at least 700k. My concern is dealing with the bar.

    I won't run the bar myself. I plan on leasing it, raising it's rent out the ass from it's current state. The more I read into it though, it seems the liquor license also works on a points system as far infractions are concerned, i.e. selling to minors, bar fights, etc. Accumulate enough points and the state pulls your license. New owner inherits any old infractions.

    Furthermore, NJ property tax seems ridiculously bonkers! Where as in I'll pay 800 in CO, 4.4k in VA; with this property I'd pay 8.9k which is fucking absurd!

    What do you think BG? Crunching numbers it seems like I'd be really hinging on getting the property underpriced while collecting an exorbitant amount of rent for the bar.
    If I was in position for that scenario I'd do it. Maybe hire a company or management firm to handle the day to day on the bar while you collect the money. If I was to rent a house out that's how I'd do it. To me, the fee is worth it to lower stress of the day to day.

  19. #19
    The Anti Miz
    The Anti Miz of the House of Weave

    Join Date
    Feb 2007
    Posts
    30,712
    BG Level
    10

    Quote Originally Posted by Xno Kappa View Post
    Figured I'd ask here instead of starting a new thread.

    I'm looking into buying a corner building in NJ. I currently own two homes, at one time I had three, so the process itself is nothing new to me. Made a pretty penny off the sale of the third home, and feel like I have a huge opportunity on my hands with this situation.

    This is completely different from my previous purchases; as it is a building with a town home on top, and on the bottom a bar that currently has a liquor license. If you didn't know, obtaining a liquor license in NJ is notoriously difficult. It is limited to population and issued to the property, not the individual. The current owner is willing to sell it to me at roughly 370k~, dropped from 410k~, and until a proper appraisal I'm convinced the value is at least 700k. My concern is dealing with the bar.

    I won't run the bar myself. I plan on leasing it, raising it's rent out the ass from it's current state. The more I read into it though, it seems the liquor license also works on a points system as far infractions are concerned, i.e. selling to minors, bar fights, etc. Accumulate enough points and the state pulls your license. New owner inherits any old infractions.

    Furthermore, NJ property tax seems ridiculously bonkers! Where as in I'll pay 800 in CO, 4.4k in VA; with this property I'd pay 8.9k which is fucking absurd!

    What do you think BG? Crunching numbers it seems like I'd be really hinging on getting the property underpriced while collecting an exorbitant amount of rent for the bar.
    DO IT COWARD

  20. #20
    Annihilation Banwave
    sprout sprout sprout
    2031 No.1 Draft Pick
    Pittsburgh Penguins

    Sweaty Dick Punching Enthusiast

    Join Date
    Aug 2006
    Posts
    19,623
    BG Level
    9
    FFXI Server
    Bismarck

    Better yet, do it and then turn it into a real life Paddy's Pub.

Quick Reply Quick Reply

  • Decrease Size
    Increase Size
  • Remove Text Formatting
  • Insert Link Insert Image Insert Video
  • Wrap [QUOTE] tags around selected text
  • Insert NSFW Tag
  • Insert Spoiler Tag

Similar Threads

  1. Pwned Vs Got Pwned
    By ChOkOmArU in forum General Discussion
    Replies: 2
    Last Post: 2004-09-28, 19:57