Do modular homes depreciate as badly as mobile homes (manufactured)? Also, if the land restrictions do not allow mobile homes, do modular homes fall within the same category?
No. Modular homes are built to the same standards as site built homes. Once completed you can’t tell from outside or inside that it’s a modular home. The main advantage of a modular is construction time. A modular home can be completed in 60 to 90 days where a site built takes much longer and a modular home can be built on any lot zoned for a site built home. A manufacture (new term for mobile) is built to a lesser standard.
realtor.sailor
June 18th, 2010 at 12:04 am
No and No.
Modular homes are comparable to site-built homes…they tend not to sell as well because the fact that it’s modular has to be noted on the appraisal.
However, mobile homes are not real estate, they are personal property…much like a car..so that is why they depreciate so fast.
References :
June 18th, 2010 at 12:21 am
No. Modular homes are built to the same standards as site built homes. Once completed you can’t tell from outside or inside that it’s a modular home. The main advantage of a modular is construction time. A modular home can be completed in 60 to 90 days where a site built takes much longer and a modular home can be built on any lot zoned for a site built home. A manufacture (new term for mobile) is built to a lesser standard.
realtor.sailor
References :
I’m a Realtor