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Need some advice on housing.

with the MH are you looking at selling it later on down the road intact with the land? Or are you banking that its going to appreciate in value even if it has to be moved to put a bigger one on your lot?

If it has to be moved to sell it, alot of the value of what it would be worth in place is lost because of the expense of moving and repairing it from that move.

I don't care if you are getting the land from family or Jim down the road. It is a legal Real Estate Deal. Get it in writing with legal documents filed at the courthouse attached to the deed on that Real Estate. Then there is no contesting it or having anyone butthurt over the details of your handshake deal. If it isn't deeded seperately from your parents place you could pay for it several times over when they pass. Taxes, Value of estate, inheritance etc, etc. (or if your family is like mine, before they pass)

Family is family and business is business. The sooner you realize it the better off you'll be.
 
with the MH are you looking at selling it later on down the road intact with the land? Or are you banking that its going to appreciate in value even if it has to be moved to put a bigger one on your lot?

If it has to be moved to sell it, alot of the value of what it would be worth in place is lost because of the expense of moving and repairing it from that move.

I don't care if you are getting the land from family or Jim down the road. It is a legal Real Estate Deal. Get it in writing with legal documents filed at the courthouse attached to the deed on that Real Estate. Then there is no contesting it or having anyone butthurt over the details of your handshake deal. If it isn't deeded seperately from your parents place you could pay for it several times over when they pass. Taxes, Value of estate, inheritance etc, etc. (or if your family is like mine, before they pass)

Family is family and business is business. The sooner you realize it the better off you'll be.

The land will be ours legally. They are selling it to us just as if they where selling it to some random person. There just selling it to me WAY under what it's worth.
 
Thats good for you that they are selling it cheap. My point was just make sure it is all documented legally just as with anyone else.

Dealing with family on business stuff usuall ends up in a nightmare.
 
My parents did a nice mfr'd home....yes, some are built VERY well, but as said in some previous posts, they tend to appreciate less than a stick built and resale can be tougher...I have also heard that some loan institutions will not finance them (although I don't know that as fact).
I would go stick built if possible. I guess the main benefit of a Modular is they go up quick and less hassle with contractors.
 
Well I decided buying a manufactured when i know i want to build in a couple years is a bad investment.

My neighbor used to be a contractor and is willing to help us build a house right now. He offered to help me step by step through the building process. Some stuff will be subcontracted but My family and my neighbor will be doing majority of the work. We can build a house twice the size of the manufactured (unfinished basement) for cheaper then what the MFH cost. Just trying to figure out the financing with the bank right now.
 
congrats on your decision i think you made the right choice. And thats awesome you have family and friends to help. It will be a sweet stressful process but you design it the way you want and in the end its your house and you will love it
 
know the difference

manufactured home and modular homes are different. Both are built in a factory but manufactured homes are built to HUD code and Modular homes are built to UBC code. Two different things in the housing market. Manufactured homes are difficult to finance and can only be compared to other manufactured homes, modular homes are financed same as stickbuilt home and can be compared to other modular or stick built homes.

So, Bottom line, know what your are buying or looking at, alot of posts above obviously are confusing modular and manufactured in there advice. Personally as an certified appraiser I would stay away from a manufactured home but would absolutely consider a GOOD quality modular home. Your good quality modular homes won;t be much cheaper than a stickbuilt home but will look better and be easier to finance and market when it comes time to sell.
 
Just thought I would update everyone on this. We decided to build a house and we are going to try to do it ourself except for putting up the frame the siding/windows/shingles. We have been putting together floor plans we like and we drew up a plan that we both love. It's going to end up being around 3400 Sq Ft. This is a rough plan the measurements are not exact. I'm sure I also have some doors messed up but this is my first time doing this.

HousePlans-1.jpg
 
Good luck with your build. Although we were never looking at a manufactured home, we currently have our first home on the market and will be building when it sells. After getting bids from 4 contractors and then getting 3 bids for the trades that I won’t do and getting those cost put together, I have made the decision to contract/build the home myself as well. The biggest reasons I have decided to do it myself are because I am either related, or personally know owners of the flowing trades: cement work/excavation, framing, plumbing, electrical, and drywall. I will shingle, do brick work, finish plumbing, flooring, tile work, paint, and millwork myself. I have been doing research for about 2 years now and here are some things I have learned as far as being your own general contractor.

- expect to be at the job site every morning, afternoon and evening to make sure your subs get the work done they are suppose to get done on time and right

- you control subs with money, pay as the work is complete not all at once up front and make sure to include liquidated damages to every day they are late over a agreed on grace period, obviously you must acknowledge that weather can play a factor in some subs ability to work

- don’t expect your subs or inspectors to find issues, you need to know how everything should be put together. Your foundation and framing are two subs that you need to know have an outstanding reputation. If either of those two steps are done half assed or wrong, the entire home can have problems.

- Banks will need 20% down for you to secure your own construction loan and they will only lend you the money for 12 months. Factor in permit fees, inspection fees, surveying fees, insurance, Interest, ect into these fees that you may not think of. For a $300k home, 4 month construction period you will accrue approx $8k in the fees listed above.

- You will have to provide all materials to your subs if you own the land, a sub can’t put his materials on your property

- Get bids from a few builders first, you will learn a lot about the construction process

- Look at as many homes for sale as you can, get ideas of what you do and don’t like. The worse thing is to build a home and then go into one you like a lot more and saying to yourself “man I wish I would have thought of that!”

- If you have never done drywall or trim in the past, hire a pro that will work hourly to help you so you can learn the tricks. These two steps can be the difference between a beautiful looking home and one that looks like it was put together by the special needs shop class


Here are some of my opinions when it comes to building materials or building techniques

- I am going to go with LP siding over Hardy board; LP is lighter and doesn’t chatter in the wind as bad. Hardy has a sharp edge that gets damaged easily during install and can been seen after being installed

- Do your research on your windows, just because they have the most ads and are higher priced doesn’t mean they are a better window. I am going to go with Windsor windows for my home

- IMO, basement infloor heat in the Midwest is worth its weight in gold

- One thing I have really noticed here in SD is the vaulted ceiling is starting to be out dated. A lot of homes are going with 9 or 10’ flat ceilings. These are more efficient as well since your heat isn’t up in a 14-16’ peak. Doing a trayed ceiling is a great way to add character to the home and only had a few hundred bucks to the overall cost.

- If your plans include a front porch, I would consider going with a poured cement stoop over a wood deck. The cost is very similar, and the stoop won’t have the maintenance a deck will have.

I could go on and on, but above is biggest points I have learned.
 
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