Profile picture for paddy120

Is the resale value of a modular/manufactured home a significant issue?

We found a modular home built in 1976 that is in the right location with a good view of the water and appears to be in excellent condition. We will have a inspection prior purchasing the home. My concern is that if it is found to be in fine condition what might be the down side in terms of the impact on resale. This home will be a second home that could become our retirement home.
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February 18 2012 - US
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Answers (2)

Profile picture for sunnyview
Modular homes vary in quality, but I would check with several local insurance companies and see what their policies are to make sure that you will continue to be able to get insurance.

There is an article here discussing the lifespan of different types of housing. You need to know if the house is attached to the foundation with the proper type of bolts for insurance purposes. The lifespan is supposed to be 50 years, but may be more or less depending on quality. Manufactured and modular homes in my market both sell for less than a stick built home. That tends to be even more of a factor depending on the age of house.

Run the comps for both stick built and manufactured/modular homes in your area and make sure that you do not overpay.
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February 18 2012
Profile picture for the_country_hick
A modular house is the same as a stick built house except it was built in sections and trucked to the site. Its quality could even be higher than a site built house. Resale on such a house should not be an issue.

A manufactured house (aka trailer, single-wide, double-wide) is a depreciating item like a car. It is made to depreciate quickly. Getting financing for an older trailer is very difficult and if old enough could be almost impossible.

Do not be surprised if in the next few years house prices overall drop even more. A modular house will follow the real estate price trend up or down while a trailer will drop even in a rising market.
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February 18 2012
 
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