Modular Homes

Anyone have, or know of, experiences with this type of housing?

As my rent continues to increase I'm at that point of buying a house again and this seems to be a break-even thing to do.

To clarify I'm not looking for a Tuna Tent in a ghetto trailer park. Probably won't cruise any of the places until summertime so I can see the rug rat population.

As the saying goes:

3 most stressful things in life -

1. Losing a job
2. Losing a Spouse
3. Buying a house

Thanks

Anyone have, or know of, experiences with this type of housing?

As my rent continues to increase I'm at that point of buying a house again and this seems to be a break-even thing to do.

To clarify I'm not looking for a Tuna Tent in a ghetto trailer park. Probably won't cruise any of the places until summertime so I can see the rug rat population.

As the saying goes:

3 most stressful things in life -

1. Losing a job
2. Losing a Spouse
3. Buying a house

Thanks Originally Posted by Loxly

Actually, if you have the right frame of mind, those are the 3 MOST FREEING THINGS IN LIFE.. did #1 4 times, #2 6 times, and #3 14 times.
Things get much better each time. Hang in there Dude..
I think it was Mat Kearny that said.. "Freedom's just another word for nothing left to lose".. it's true..

Actually, if you have the right frame of mind, those are the 3 MOST FREEING THINGS IN LIFE.. did #1 4 times, #2 6 times, and #3 14 times.
Things get much better each time. Hang in there Dude..
I think it was Mat Kearny that said.. "Freedom's just another word for nothing left to lose".. it's true.. Originally Posted by nuglet

You've gone through 6 spouses?

Damn man.... I have a whole new respect for you in surviving that!

You've gone through 6 spouses?

Damn man.... I have a whole new respect for you in surviving that! Originally Posted by Whispers

LOL as a Poster Child? I think I finally got it down.. some are sloooowwww learners..
<<<guilty!>>>>
I found it's better if I share the women I like.. keeps the peace + I don't have to explain where the $$$ went.

I think it was Mat Kearny that said.. "Freedom's just another word for nothing left to lose".. it's true.. Originally Posted by nuglet

I thought Kris Kristofferson wrote that in the lyrics to "Me and Bobby McGee"

I thought Kris Kristofferson wrote that in the lyrics to "Me and Bobby McGee" Originally Posted by Smokin Joe

Ah thot it wuz Janis Joplin!

Anyone have, or know of, experiences with this type of housing?

As my rent continues to increase I'm at that point of buying a house again and this seems to be a break-even thing to do.

To clarify I'm not looking for a Tuna Tent in a ghetto trailer park. Probably won't cruise any of the places until summertime so I can see the rug rat population.

As the saying goes:

3 most stressful things in life -

1. Losing a job
2. Losing a Spouse
3. Buying a house

Thanks Originally Posted by Loxly

No direct experience myself.

Have you considered being somewhere "out in the country" where you can own your own lot, or do you want a developed park in the city?

I have quite a bit of knowledge in this area. First, lets define some terms:
Modular-a factory built home that was NOT built to HUD standards and does not have a red HUD tag attached. May have been constructed to Southern Buiding Code standards.
Manufactured-a factory built home constructed after 1976 and built in compliance with HUD standards and possesses a red HUD tag permanently affixed to the end of each section of the home. The tag will have three alpha and four numeric symbols on it. For a multi part home the tags are usually, but not necessarily sequential.
Mobile -a portable home build prior to the establishment of HUD standards in 1976.

Modular and manufactured homes are typically constructed in the same plant along side of each other. The primary legal difference is how the home is placed on its foundation. Modular homes typically require a crane to place them and any frame they arrived at the site on has been removed. A manufactured home may be indistinguishable from a modular without looking either under the home to see if the two steel I-beams per section remain in place or if the red HUD tag is present. If either the HUD tag or the I-beams are present, the home is a manufactured home.
Financing for modular and manufactured homes are the same as for a regular site built home. There are additional requirements, but terms are identical. Mobile homes are not finance-able. Manufactured and modular homes must be permanently attached to the property and declared as real property to be eligible for a mortgage. Manufactured homes may avoid this, but then are classified as chattel property and the financing is far worse. Used homes that have been moved from an original location are not eligible for a mortgage.
Obviously, there is a lot more to this subject, but without knowing more about your intentions, this could turn into a book. Besaides, it's past my bed time. Message me with questions and I'll respond. I ran the first manufactured/modular subdivision in Texas and owned a mortgage company that specialized in financing these structures.

Glider, is a modular or manufactured home distinct from a "mobile" home?

Thanks for the info.

Thanks Glider. Good info and I'll be in touch with you.

I erected the first two modular structures in the city limits of Tyler, TX (pair of duplexes). The City Engineer traveled to the factory (Athens, TX) to check the materials list and plans, and then inspected the two long pieces before they were transported. Constructing the foundation on which these would be set was expensive, but necessary. Here are my observations after having erected them, and then rented them for 10 years.

1. I did not save money compared to a site-built home. Once all of the costs are tallied, I was somewhere around $65/sf. (This was 2000). The marketing people claimed I could get these completed for $50/sf. Bullshit!

2. I did save time. 90 days v. 5 months.

3. The mfgr will cut corners any way they can. Subflooring made of particle board instead of plywood. Wall to wall carpeting, including kitchen and bathrooms. They know how to do the minimum required to pass the local building code. You need to be very active in the process of selecting materials, etc.

4. The expertise of the crew who sets the building and connects the "halves" is CRITICAL. You want that crew to be hired by the mfgr. You pay for it, but you need to have recourse v. the mfgr if the set crew f/up. In my case, one of my structures was slightly out square, and the doors did not fit into the jambs. Set crew blamed the factory. Factory blamed the set crew, and then blamed the company which constructed the foundation. This was bullshit.

You want ONE COMPANY to be responsible for the foundation, construction of the building,and setting and sealing the building sections. Otherwise, you'll take a long fat one up your ass.

Good luck.