Manufactured Homes

[Suz D]

I just posted about relocating to Morgantown, WV. The housing market seems quite high there. We're thinking that to get the same square footage as we have here in Indiana for a reasonable price, we may need to look into manufactured homes.

Is there anyone who has any experience with them? Specifically I want to know...

1. Do they hold their value (we'd probably put it over a basement)
2. Is the quality good over the long haul?
3. Any other information would be great!

TIA!
Suz

 

[DVCJEN]

I just posted about relocating to Morgantown, WV. The housing market seems quite high there. We're thinking that to get the same square footage as we have here in Indiana for a reasonable price, we may need to look into manufactured homes.

Is there anyone who has any experience with them? Specifically I want to know...

1. Do they hold their value (we'd probably put it over a basement)
2. Is the quality good over the long haul?
3. Any other information would be great!

TIA!
Suz

1. Manufactured homes depreciate much like a car, unlike traditional stick built homes or modular homes.
2.Getting financing can also be a problem because they do depreciate. Some lenders will not even consider loans on trailers and double wides because of the depreciation and risk.



I can not comment on quality as I have never owned one.

 

[JoanneNC]

OK I am confused
Are you talking about the homes that are built inside and transported to your lot in pieces and put together - or are you talking abou the single/double wides that can be placed on a foundation ?

 

[sarahlovesmickey]

our friends did the whole modular home route and regretted it soon after moving in. They said that some of it seemed to be "Mickey moused" together. (their words, certainly not mine....I wouldn't put down the Mouse like that!! LOL) We had our home stick built and while it was more money to do it that way, after hearing the stuff they had to say about their modular home, we were glad we went that route.

 

[Suz D]

We're looking at both modular and manufactored.

Modular ones are built just like a regular on site built house but they are transported to the site in pieces and the house is assembled there.

Manufactured are what used to be called single, double, triple wides. They are made in 1, 2, or 3 pieces, transported to the site and tied down or put on a foundation or basement.

I'm comfortable with the information about modular homes as I think that they are very much like a site built home. It's the manufactured homes that I'm struggling with. I'd really like to hear from someone who owns one. We would put ours over a basement for sure, so it wouldn't be "tied" down.

My worry has been what the first reply indicated. Depreciation. I just can't believe the cost of housing in Morgantown. It's much lower than many parts of the country, I know that, but it is much more expensive than where we live in Indiana (and our town in Indiana is on the more expensive side).

Thanks for the replies so far. Keep them coming if you have any other information.

 

[Suz D]

Thanks for the replies so far. I'm bumping in the hopes that someone will respond today who owns a manufactured home. Suz

 

[StillPinballFamily]

Mom just had one of these "manufactured homes" built for herself - at 70+ she was downsizing, and wanted something "brand new" on one level with no maintenance issues. Spent $70K on an 18' x 60'(?), I think and *really* customized things the way she wanted. She went with what seemed like a very reliable builder, and the place is ok, I suppose. It is new - but I guess I'm sort of an old house snob...I need real wood, real metal, and some character. (But I'm strange!)

Her walls are some sort of papered wallboard with moldings over the butted joints. I'm not even sure you can hang a picture from them. The "tiles" throughout are just the plastic type, and so are the tubs/showers, and the faucets, etc. look like metal but are also plastic. The rooms are spacious enough and the kitchen has ok wood cabinets. It even came with window treatments - kinda cheap looking, but they're there. Her lot is in a decent little park - but the homes there really run the range from tidy, well maintained ones with extra porches, sheds, gardens, etc. to really seedy looking grimy ones that look like nasty old trailers.

We're just assuming it will last her for the rest of her days - fingers crossed - but won't be worth anything at that point. Could you possibly take the proceeds from the sale of your home and rent for a bit in the new community until you really get a chance to check out the local market and wait this lousy economy out a bit? Not sure what the scoop is there in WV, but most "experts" (for what that's worth) think the US housing market won't bottom out for two more years. Ugh. Hope this helped.

 

[Suz D]

Thank you for the input on this. We had considered renting and that is a great idea. I always hate when people post suggestions to problems and the OP says "but...". That said, but...our big issue with that is our daughter is a very shy 7th grader to be. We would have to know exactly where we would want to buy so that she doesn't have to switch schools again. It is something we are considering 'though. Tough call.

Thanks for posting a reply.

 

[Kathi OD]

Whichever way you decide to go, make sure you have a lender lined up who writes loans for manufactured or modular homes. My DS and BIL had trouble securing financing for their new home which was a modular. As soon as the lenders found out it was a modular, they weren't interested or wanted a much higher interest rate.

 

[StillPinballFamily]

..our big issue with that is our daughter is a very shy 7th grader to be. We would have to know exactly where we would want to buy so that she doesn't have to switch schools again. It is something we are considering 'though. Tough call.

Thanks for posting a reply.

I totally get this. Could you do a private school just for her middle school/junior high years? Maybe there is one around that wouldn't cost a fortune. Then it wouldn't matter *exactly* where you lived, and if you liked the area and found a place to buy, she could transition to the high school when everyone else her age/grade does. Just a(nother) thought...

Good luck with your decision - it sounds like you are really doing your homework and I'm sure you will make the best decision possible with the information you have collected.

 

[DVCJEN]

Thank you for the input on this. We had considered renting and that is a great idea. I always hate when people post suggestions to problems and the OP says "but...". That said, but...our big issue with that is our daughter is a very shy 7th grader to be. We would have to know exactly where we would want to buy so that she doesn't have to switch schools again. It is something we are considering 'though. Tough call.

Thanks for posting a reply.

I say this very delicately.
You are concerned for your daughters adjustment, which is wonderful. You are a thoughtful parent. Some might point out that the "stigma" of living in a trailer might affect your daughter at school as well. I am NOT in anyway saying that living in a manufactured home is bad or wrong or less. But unfortunately the phrase "trailer trash" is used so often in the media and in everyday life, that it could hurt your daughter terribly if someone were to call her that.
Again, I am not suggesting that manufactured homes are bad I am just saying that kids (and some adults) can be very cruel about things like that.

 

[StillPinballFamily]

Sorry, OP - me again.

It would be a shame to lose the equity you've built up in your current house through depreciation on a manufactured one. But some might argue that "throwing" away rent money might be the same thing. (Not me, I think house values will continue to fall for awhile and that rentals might be the way to go until things stabilize.) But, anywhoo...

If you are really considering renting a place - for a short time, or even a long time (even through maybe when your DD is done with 12th grade, so you wouldn't have to move during those years?), check to see if WV offers rental deductions on their state income tax form. Our state does (50% of rental costs per year, up to $3K per year).

 

[dpayne1969]

hello,

this is just my honest opinion but i do live in a manufactured home it is 2000 sq ft. I can honestly say, it is the biggest "cracker jack box" i have ever seen
we have several sky lights, every single one leaks.The roof leaks.The cabinets are absolute JUNK i would not recommend it to anyone at all.
They are very cheaply made.

 

[luvindisneyworld]

Okay, I am one of the lucky ones I guess.
We bought a DW in 1999 and we put hardwood floors in a couple of the rooms and nice carpet in the master and nice vinyl in the bathrooms.
With the price of the DW our piece of land which was about 1/2 an acre and then the few things we did to it had about 70,000 in it and it sold for 135,000 last year.let me see if I can find the pictures of it on the realtors website and I will post them.

http://www.waynesville-realestate.c...ow=&listing_id=REAGAD39100692&start=0&grp=ALL

 

[MyGoofy26]

Haven't seen your original post, so I'm not sure where in Morgantown you're planning on moving to. I used to live there, went to school there, and if you want to consider renting before buying (so you can REALLY feel out the areas) keep in mind that since it's a college town, most rental companies will not negotiate on leases - 1 year leases only. They want to force the college kids into paying for the summers, even if they're going back home, so the apartments don't sit empty and generating no income. BUT, on the flip side, if you want to rent short term, say this summer, you'll likely find a lot of college kids willing to sublet their apartments.


Morgantown is pretty much a big city squished into a small city. There are so many students that the population doubles during the school year. Football brings hoardes of people in. The expansion of the road and bridge in Star City helped, but it's still a mess trying to get that many people in and out of the city during football season. If you're not going to the game, the city's almost at a standstill. So, when deciding where exactly to move, be sure to take into account the traffic. One of my apartments was behind the football stadium and it took me 2 hours to get to my job at the mall, typically 10 minutes away. If you're near either campus, especially downtown, expect huge delays when classes end/begin. So at the end of every hour on M/W/F and every hour and a half on Tuesdays/Thursday.

 

[tonilea]

We live in a mobile home. We bought it almost twenty years ago. We moved next door to my inlaws to help them. Both were in poor health at the time... I never imagined I would still be here almost twenty years later.

Would I do the same, if I knew then what I know now? ABSOLUTELY NOT! I could never recommend buying a mobile home to anyone. They are poorly made, difficult to work on and nearly impossible to hire a plumber or other home repair person..... You will have to learn to do all that yourself.

 

[nictodisney]

We purchased a 2001 SW Fleetwood. At the time we couldn't afford to build and had just bought the land so it seemed a way to get us by until we're ready to build. The price was right but no qaulity. Counters very cheap, tubs plastic (don't hold up and stain), carpet very thin and cheap, leaky windows (we even did a window upgrade), mold problems since windows link into the walls. The men who set it up took short cuts and didn't know what they were doing - cut and cemented in the sewer line! Didn't get the model we ordered - changes in floor plan not to our advantage. Island in kitchen is big box - no shelves. All the fancy sheling in closets is not mounted to studs so it falls and most closets have been repaired. Underpenning breaks easily. Would we do it again - never!

We can not refinace and insurance is hard to find.

I have seen others have better luck with double wides but they still complain about poor quality. You get what you pay for.

Really look over what you buy closely - ours didn't hold up.

 

[Suz D]

MyGoofy26, I completely get what you are saying about the rental situation in a college town. We rented when we first moved to Indiana. Most places were expensive, junky, and the leases were so restrictive (we have two dogs which we didn't have when we rented here). We did end up with a construction special that worked out wonderfully.

My husband called from WV tonight after spending some time with a realtor that WVU arranged for him. It was pretty bleak. In all honesty, you all are getting a bit of my venting and frustration about having to move and leave my personally designed dream house which we got into at the very bottom of interest rates in 2003 and was built by a brand new contractor who was needing the business so he priced it accordingly. We pay less for this house which has 2400 square feet plus a 1000 square foot basement, 4 bedrooms, 3 baths, 1/2 acre (you get the point) than we paid for rent when we first moved here and our rent was under $900.00. I think that is really standing in my way of being able to make a decision that isn't based on emotion.

I apologize if it appears that I'm rejecting suggestions and opinions. I'm actually not. I'm soaking them in and trying to get just a bit more info.

luvindisneyworld, your previous home is the type we would be looking for. I've seen lots of them online, but it's hard to actually tell the quality from pictures. I know that factory tours are available for some companies so we would definately do that before making a decision.

Stillpinball, your comment about losing the equity in our current home through depreciation really hit home. That is very wise and sums up a lot of my feelings and fears. I also hear you on the impact that a "trailer" could have on our daughter. I think that what we'd be looking at in terms of quality and size (and even appearance as we're looking at two story models) plus the fact that we'd put it on acreage that we would own rather than in a "park" would offset that potential problem, but do think that it is a point worth considering.

The one bright option that he did find is an old home that needs quite a bit of cosmetic work. It's very beautiful and on a nice lot in Fairmont (I think is the name of the town). It would need a major kitchen overhaul, but it's $180,000 and has been on the market for over a year. It has a huge detached garage with four one-bedroom apartments above it. The rent from those would offset any mortgage payment. We wouldn't be overextending ourselves at all with purchasing that place, so we would pay the mortgage and taxes and then use the rental income to do the cosmetic work and put in a new kitchen. I'm actually very excited about that thought, but so scared at figuring out how to sell this home, buy another one, the timing etc.

Sorry that those who stuck with my post this long have been subjected to all of this. It's strange how so many people come to the DISboards for comfort. There is a great deal of security in anonimity (did I spell that right?).

Suz

Thank you to everyone who has responded. I'm hoping that this bump will get a few more answers from those who own or have owned a manufactured home.

 

[kami2199]

Hello! So sorry for your frustration. It sounds to me that you are leaning more toward a "modular" than a true "manufactured". I would definately recommend a modular over a manufactured anyday just due to the financing/resell fact. Modulars are typically treated just as a site built home for financing/appraisal purposes. Now - the quality etc. will depend on your contractor. I have a friend who owns a two story modular and she is constantly having problems with drywall screws popping out among other things. Your contractor should take care of these types of problems but hers is some skippy that doesn't service his clients very well. You can do many upgrades to modulars just as you would a site built. Most of the time, nobody will ever know the difference between modular and site built.

If you are leaning toward a manufactured though then I think your best bet is to put it on a basement and get drywall instead of the wallboard with seams they typically use. I also think there are soem newer styles that have a different roof pitch and not the dead giveaway peak that most manufactureds have. Some of the lender requirements I've seen for Manufactured is that they must be on a permanent foundation and taxed as real estate to qualify for financing. Check into that. By the time you spend the big bucks on upgrades though, you may as well just go for the modular.

 

[barkley]

check with homeowner's insurance companies in the area you are moving to. both manufactured and modular homes are fairly common in our area and one of the first questions when we were shopping for insurance on our 'stick and morter' home was what kind of home it was. apparantly at least in our area-not all companies provide insurance for these types of homes and those that do can charge some pretty high rates (way it was explained to me was they cost more to repair so premiums are higher, but since the replacement value depreciates the coverage is lacking).