I am planning to buy a house soon enough. Considering the real estate
is relatively down, I feel that it is a good time to buy. Still am
exploring options-- buying land and building a modular home. I got a
nice decent estimate, which does not include plumbing, electricity
Plus, I feel better that the technology has improved over the years
and it will be a new house.
Would it be cost effective to bypass the advantage of buying during
this time (buyer's market)? I personally feel yes, since the market is
down, other things like cost of building modular homes etc too would
have got affected because of the same. Hence even if I get a modular
home I am benefitting cause of the market.
Also what would one say to the idea of modular homes. Do they have
good resale value? This is not just a means of investment, but a
Depends entirely on the particular modular home and the setting in which
it is placed. There are cheap modular homes that won't retain value very
well, and there are high end and even custom modular homes that will do
just fine. In either case if the location sucks or the home is notably
out of character for the area the value will suffer.
consider when building a new home. (modular or otherwise)
First, go with a reputable manufacturer. Do your homework and check these
guys out. Furthermore, make an effort to find people who have already
bought from whatever manufacturer your considering going with. Ask them if
you can come over and see. Talk to them about the process of building.
Their experience can be invaluable.
We did all of the above, and I can tell you is pays off. Just don't buy the
cheap-type modulars that are nothing more than glorified double-wide
trailers. They are nothing more than expensive pieces of sh*t that will
fall apart and lose value.
One of the benefits of going modular is cutting out the general contractor.
(and his fee) The more you can do yourself, the more you can save. I did
all the plumbing, electrical, and just about everything else on ours and
saved a bundle. It's a lot of work, but worth it. Good luck!
Thanks a lot!!! That was really useful. I am planning to check out
some in NH, where I am planning to buy one. Are there any places or
sites you recommend which I could check out modular home builders?
I sure will check out the homes and talk to references. Certainly very
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