A friend has a beautiful two story + finished basement modular home and the quality of construction is excellent. The structure is engineered, rather than simply put together like most sticks 'n' bricks structures.
The inherent vice of Capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries. Winston Churchill
I have a beautiful modular home, with a full, walk-out basement. I love it. It is the best-built home I have ever owned!
BTW - my "sticker" was on the service panel in the basement, yes, I had to go find it as someone has listed the house as manufactured and nearly bolo-ed my financing. Once I came up with proof it was modular, I got favorable, traditional 30-year-fixed financing.
My home was built in 2003. Each side weighed 48,000 pounds; we had a 100 ton crane on the property to lift it off its carrier trailers and to lift the hinged roof up.
Ours was built in one of the Carolinas and delivered to southern Middle Tennessee without even a piece of drywall being cracked.
At that time the cost was $48/sq ft. We were told we could have had a stick built house for $50/sq ft by a local builder. Trouble was we were coming from another state and didn't know anything about any of the local builders.
Now that we've been here 7 years, we know we would pay for a modular all over again because the $50/sq ft builders in this area suck - plain and simple. They make em look pretty but I want a solid infrastructure, I can do pretty myself.
The home is set on a permanent foundation and lagged down to meet earthquake standards, so it should withstand a tornado as good as any stick built home and I hope I NEVER have to find that out first hand.
I would buy an r-anell all over again in a heartbeat - even if I hit the more money than brains lottery
Lots of good info here. It is my understanding that modulars are considered real estate and Appreciate, manufactured/double wides are vehicles (you have to register/tag them each year) and they Depreciate!! An important matter. Right now in Oklahoma (my daughter works for a title company) none of the lenders are loaning on land/manufactured home combos. When we lived in NC I had the opportunity to really check out the modular homes with a friend...some are AWESOME, well built homes. I would not reject a property with a modular on it!!
We put a modular home on our property last October. It's fabulous and is definitely not a manufactured or mobile home. Nice open concept and very bright.
Banks are very willing to give mortgages on these as opposed to manufactured. In fact we had lost a sale on our property because when we had the mobile home on it the guy couldn't get a mortgage. Now he's back and wanting to buy it again since he can now get a mortgage on it. Sorry - I'm enjoying my new modular home too much.