Stick Built vs Modular

[riptides]

VERY nice.

Any one else for pricing info? Looks like between 50 - 100 dollars a square foot depending on where you live?

See I don't get that where you live part, on a "kit" if it is pre-built somewhere in a factory. Or am I off base here?

I have asked one company mentioned in previous replies about pricing, they came back with a one-liner "Where will the house be "built" at?"

Help me out here.

-Mike Z. /forums/images/graemlins/grin.gif

 

[riptides]

I thought your post to be VERY informative. No need to think you need to defend it. It is something to be aware of when buying and selling a home.

Thanks.
-Mike Z. /forums/images/graemlins/grin.gif

 

[rogdan]

We are under a construction loan now and will convert to a standard mortgage hopefully by the end of the year. The bank in our situation considers us the same as site built with an advantage of the building company being considered trustworthy by history and needing fewer inspections by the bank. We are insured by the same company as our current site built home with no consideration to the home being of modular design. We were told that it was the same by all involved if it wasn't under HUD code and didn't come with a title.

 

[Foxpoint]

A couple of notes on insurance, (which may answer the question on if modular is as "good" as stick built). We are currently paying about 800 a year for homeowners for a HUD doublewide on a permanent foundation. When the modular is finished, our insurance will drop to about $450 since we will be using the doublewide as an office / exercise room / play room and it is then considered an "other" structure to the insurance company similar to a garage or barn. The modular is considered the same as site built by State Farm.

 

[Foxpoint]

In regards to loans, we will be in a conventional loan once we are through with the construction phase of the project. IN my area (mid Atlantic / Delaware) modulars are built to BOCA codes which are the same codes as stick built. We had no problem finding a lender for us with the modular. Modular is really just a construction technique since the codes are the same as site built. My insurance agent and bank both feel that modular presents less risk during the construction phase but there was more paperwork on the front end. For instance, the bank did a credit profile on the manufacturer. When we first purchased the property, it had a HUD doublewide on a permanent foundation. We had an extremly difficult time getting a loan - go figure since the loan and payment was lower than our old house, we have excellent credit, and debt to income was in the high teens.

For our bank / manufacturer / contractor the draw schedule looked like this:

10% at loan closing to place order with manufacturer, payment to septic, foundation, HVAC, Well, Plumbing to purchase materials

X % at house delivery to pay the factory for the cost of the house itself

Balance at certificate of occupancy to pay subcontractors, etc.

 

[Varmintmist]

First, all houses are boxes. If it is stick built or modular it is a box.

As to floor plans being limited, I designed my own. he only limitation was placement of the basement steps due to a 9'3" basement wall (headroom) and the fact that SWWBO shot down my first 20 floorplans. /forums/images/graemlins/shocked.gif

http://www.smihomes.com/ourbenefits.htm

I saved by doing all my own plumbing, electric, heating and finishing, basicly they set 2 real big boxes and drove away. All of the plumbing was stubbed down, upstairs elec was dropped down, registers and elbows were in place, all of the trim was included.

I am thinking for the house itself without basement it was 40-45 bucks/sq foot off the top of my head.

There are HUGE differences in modulars as there are in contractors. Mine is a middle of the road fancy wise. It is overbuilt but goodies were optional. I have a friend who has had 2 built. One colonial (Ritzcraft homes) higher end, and a chalet type, dont know the manufacturer.

The only way you can tell that they are not stick built is that the marriage wall is 6 inches thick instead of being a 2x4 studded interior wall.

Financing was a pain because some banks are still modular=trailer thinking. Not all and it is changing. However the real problem financing is in having more than 7ac. Banks hate that.

 

[hunterridgefarm]

("The crane in action, hope I didn't highjack your post. ")

No highjack, post more pictures if you have them.

So far I am seeing a difference in some dealers as to the quality, but I have seen the same with stick built also. I will be visiting a dealer next week that has some of the designs we are looking at. One floor plan we are looking at comes in about 8 sections not including the roof. Lot of angles and dormers.

All the information you guys are posting is very usefull from insurance to loans.

Thanks

 

[rogdan]

Well you asked, this is the first of 6 modules going in. We have 4 bedrooms and 2 full, 1 -3/4 and 1- 1/2 baths . just undr 200sqft

 

[rogdan]

Actually just under 2000 sq ft, basement is just under 1200 sg ft

 

[rogdan]

This is where it gets tight, its amazing how precise such a big machine can operate. It took several minutes at this point of "fine tuning" with the crane.