Modular homes?

Question

I have been looking for a home now for about ten months. I know what I want, but I just can't find it. I can't afford much more than a monthly payment of about $1000 so a $120,000 house is about the limit for me right now. I've found a nice chunk of property on a few acres for about $40,000. By my way of thinking, if I can get a house on that acreage, I wouldn't have to deal with an old house that isn't up to date (which is what i've been finding in my price range). Does anyone have any experience with modular homes? Tell me your experience, please!
I'm probably looking at about a 1000-1200 sft capecod or ranch style home with a garage and a basement (not a slab). In michigan, where no one seems to have any work right now anyhow... what price do you think iw ould pay for this? Does the price of a modular home include the septic/well? if not, how much does that run? Would the price include things like toilets, cupboards, appliances? What can I expect?

Answer 1

Well Linzy I'm not in MI but you are asking a very big ? How much a modular home includes can be about as varied as your imagination and that can be a valid option to investigate. The septic and well will be your responsibility usually and you could expect to pay around $3-6,000;for each in most parts of the country. But my advice to 1st. time home buyers is this. If you really would like to actually OWN a house some day then you need to stop thinking about long term ownership for the time being and focus on what can I get into the needs some TLC, and turn some sweat equity into a profitable aspect. Take your time and wait for a really good investment home that you can fix up and turn over and then buy a little bigger home that needs the same type of attention and do it again.
If you do this 3 or 4 times over the next 5 to 10 yrs. then you will have built up enough equity to maybe even build yourself a home that you could live the rest of your life in. Well that is what I advise but if you would rather investigate the modular option then simply call or visit your nearest modular home provider and they will be more than happy to answer any ? you might have. Good Luck and GOD Bless.

Answer 2

The price of a modular home will generally include cabinets, floor coverings, and other items generally needed to make a complete house. Sometimes, appliances are a part of the package. The price will include set up on your foundation as well. Other items, such as well, septic, foundation, and landscaping will be your own expense. You can expect the costs of these items to exceed $20,000, depending on the type of septic system required and the depth of the well needed.

As a side note, modular homes are not easy to resell, should that situation arise for you. They do not meet the structural quality standards of conventionally built homes and their resale values suffer accordingly.