I am moving out to New Mexico soon and will finally be able to invest in a house (I currently live in NYC so can't afford it). While doing a bit of research online I came across a company called Falcon Ridge that makes modular homes on permanent foundations. They claim that the houses are just as good as site built houses as far as looks, but hold together better over time and are a bit cheaper.

Anyone know anything about these kinds of houses? Is this something I should look into a bit more or avoid? Thanks

I would recommend avoiding modular homes. It's my experience that there is a negative stigma attached to them, and the resale is much better on traditionally site built homes. Real estate is very market specific, so check up on the resales of modulars in NM before making your decision.

I agree - as a rule modular home depreciate and stick built homes appreciate. JMO

Is it true that the modular home , of say the same square foot compared to a stick built home , would be significantly cheaper to purchase? My father in law, a while back , was looking to purchase land in PA and develop a community of modulars because he claimed they "sell like hotcakes" . Just curious . Thanks

These homes are being priced a little below market retail since they are made more efficiently. They are also supposed to be of better quality than stick built homes since they are made in a factory and not exposed to weather until they are put together at the site. At least this is what I am told by one of the reps from the company. These houses do have a stigma on them but I have heard quite a few good things about them as well.

hey are also supposed to be of better quality than stick built homes since they are made in a factory and not exposed to weather until they are put together at the site. At least this is what I am told by one of the reps from the company.

I have some swamp land available to put it on at a great deal.

That is a little harsh - I know. I am trying to make a point. It is not comparable to a well built stick built home and it will not hold value like a stick built home. That is just the way it is - whatever the sales rep tells you. Sorry.

This is a home investor forum and we would like for you to make a good investment - one that appreciates instead of depreciating. This is my opinion and I am sticking to it!

Post edited by: waynelong, at: 2007/11/08 11:17