Which house would you buy in the same location with almost the same price, Modular Home or Site-build home?

Question

Despite the fact that Modular home are not much different than the site-buid home in today. If you have two house in exactly the same location and just next to each one and another. The site-build home is 10% more expensive than the modular home. Which one would you buy and why?

Answer 1

no contest on this one. SITE-BUILT!

They may not look different but in fact THEY ARE different. Insurance companies perfer site home because the houses are secured to the foundation and can take a wind resistance far better than modular homes especially in hurricane alleys. Thus the reason why insurance companies have higher premiums on a modular than a stick home. Second the modular only conforms to LOCAL building code. Stick built must adher to local AND state.

For a hard look at the differences look here
http://www.forahouse.com/html/differences.htm

AND

http://www.yourbuilder.com/comparison.shtm

The main issue brought up in the modular is is your area allowed to have manfactured housing (that you have to check on with your local building department)

Some will argue that well since a house is being transported to your site it can handle an earthquake better. Yea right only earthquake proof structures are designed to handle it and they STILL WILL FALL on a 9 or worse.

Insurance companies DO look differently at pre fab modular or even mobile homes than they do at stick built. Check it out for youself.

Answer 2

Consider trying to find someone who is willing to provide financing for a sale. Sometimes, if you have someone who really wants to move a house (especially a fixer-upper), they are willing to give you a mortgage on the house for a short term, say three or five years. That would be enough time for you to a) fix up the house and build equity, and b) establish a payment record on a mortgage. You'd probably have a little easier time getting a mortgage froma mortgage lender in a few years once their current crisis cools off a bit.

Answer 3

site built home--stick built always.. no decision.

far difference...

equity in stick built up faster.

modular tend to hang or even go down..

stick built provides far greater insulation and thus decreases
heating/cooling cost..
stick built tends to have tighter structure.

modular tend to have more defects and allows ac/heat to escape...

stick built quiter...

insurance factor better for stick built.

worked with both...............

stick built will increase 20% higher than modular after 5 years.

Answer 4

I'd buy the house constructed on the site -- because of higher appreciation and resale value.