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Has anyone had any negative experiences with modular homes (two levels or more)?
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November 10 2007 - US

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Profile picture for DebtsNMesses
Contributions: 6662
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Since July 2009

Yes, can't get them financed over a certain amount, even if they're on perm foundation. I had one I was trying to buy on an acre, and they wanted me to come up with cash above their amount. This was several years ago, but I haven't heard that the loan amount restriction has been removed. This in turn causes a limit on their price, so they can't get as high a resale value as a regular home.
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November 10 2007
Profile picture for Marci Reinheimer
Debts, modular homes are different from manufactured homes. Modular homes are built to the building standards of state and local codes. They have to be permitted, inspected, etc., so except for the fact that they are built elsewhere, there isn't really a difference as far as financing, etc.

Manufactured homes are only built to HUD standards and those are the ones that are virtually impossible to get financing on in CA.
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November 10 2007
Profile picture for 2 Big 2 Fail
Contributions: 12450
I tried to install a modualr home in Alpine, but they told me they did not want the house in their town because they don't want to attract trailer park trash, so I put it on a truck and sold it to some guy in Marin County.
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November 10 2007
Profile picture for 2 Big 2 Fail
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Yes, I was just joking....
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November 10 2007
I know of modular homes that have sold for over a $1 million in Marin County, and I'm not joking:)
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December 19 2008
 

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