Part of the problem with either type of home is the hidden costs like the cost of the property, moving the house, pouring a foundation or slab, getting it set up with utilities or a well and septic system, the options of materials used on top of the base price. It used to be an affordable option (that's why you see so many single and double wides out in the country). Now that they're making these homes look more like site-built homes, they have become increasingly more costly. If I have to pay over $200,000.00 for a modular or manufactured home, I won't be able to afford to put it anywhere I'd want to live because the add on costs are just too much.
great video. One important point .... at least here in NY ... a manufactured home on blocks or piers is not considered a "permanent" structure and it is not taxed as if it were a house. So your property taxes remain the same as if there were no structure. That's not the case with stick built or modular. Here in NY that can save you literally THOUSANDS of dollars every year.
So something like a double wide wouldn't be taxed? That's pretty neat if true. There are some very nice double wides out there. I hate that they get such a bad name linked to them when people think of them. Like, trailer park trashy, when in all reality I've seen very very nice double wides.
Where in NY are you? I live in NJ and own 50 acres in Sullivan County. I am looking at manufactured homes because I am the only one who will use it. I love to hunt and my wife wants nothing to do with it. This is why I am considering the cheaper route with a manufactured home.
@@Rcol4427 I live on Long Island but I have a second home in PA. I am building a modular home there though so my taxes are going up. Check all your laws. Pretty sure in all of NYS mobile homes aren't considered "real property" but rather "personal property". Got to make sure that you don't have it on a slab or a foundation of some sort. I think it has to be on piers or blocks.
In the 70s my parents built a modular on a full basement and it was the home I grew up in. I have very fond memories of that house. I like either option, so for me I think it will come down to affordability and where I can get some land as well as any of those pesky regulations you mention : ) Thanks for another informative video. These have been very helpful.
There's a UA-cam channel a man created called "Never buy a Clayton". His home was badly damaged by the installer when it was placed on his foundation. Neither the installer nor Clayton would take responsibility. Lawyers got involved to shut the case down. The homeowner brought in state officials that oversee manufacturered homes and they too covered it up. He's got all these folks lying on video. It's really ugly that neither Clayton nor the state would help to fix the issue. He really deserves a new house and, after almost 3 years of hell, monetary compensation. This story makes me think twice about buying a manufactured or modular home. And especially not a Clayton. I think you should look at his video. It's long in 9 parts. And gets pretty emotional.
In the United States manufactured homes are built to the HUD Or housing and urban development standard modular homes on a permanent foundation are IRC International residential code.
Can you elaborate on how you would describe "crawl space"? We've been looking for some time and have noticed not everyone defines crawl space the same way. By the way love your vids so far; very well done!
Awesome video young man! Very detailed and well versed ....you were on point with all the info too..... It can be very confusing for people on what the differences are between MODs or MAFs.....
Looks like the keyboard got the best of you. You wrote "because if you ever wanted or needed to love it" but I think you meant to say "because if you ever wanted or needed to MOVE it"
Are the three builders you mention good ones or have you done a review of reputable manufacturers? If not could you please direct me to a place to find reliable reviews and information?
A modular pre fab build is appraised the same as a traditional and its listed as new construction. But! A manufactured home is not and you receive higher than average interest rates along with everything else.
Is a modular home considered real estate that qualifies for a conventional mortgage whereas a manufactured home is not considered real estate and needs a loan more similar to an auto loan than a mortgage? Or can you place a manufactured home on a permanent foundation and have it considered real estate? You have a great series of videos.
In Arizona like many states you can choose to have your home taxed as a vehicle or real estate. Claiming it as affixed and the intention is never to move it and you pay property tax for the land and home as a package. If you claim unaffixed then you have the option to move it off and have to keep trailer tags up to date on it. As it ages and depreciates you pay lower tax on the home and pay seperate property tax on the land. I found very few lenders willing to lend for my manufactured home and so I can't compete for good loan rates. Not sure it that applies to modular homes. Also depending on how you pay for your home, you can have the option of who to install and set it up on piers or a foundation.
Manufactured homes (aka mobile homes) tend to bring down area values much more than modular homes. I know that's going to upset some people by me saying that but its true. Let's be honest here. How hard is it to find a mobile home park that's filled with a bunch of trashy or neglected manufactured (or mobile) homes? Answer, no too hard. Then ask yourself, how often do you see trashy or badly neglected modular homes? Answer, you really don't because modular homes are quite often found by themselves which are usually kept nice or they're also found in regular neighborhoods with traditionally built homes.
Incorrect. Fact Department of Revenue for the first time in history appreciated all "mobile homes" for the first time 2008. Fact folks look at the sales 2007-present day. Use Illinois you may 😅access all information for proof. 😊
In Oregon at least insurance costs are substantially different for these different home types. The Insurance quote from the same company for a similar sized manufactured home was over three times higher than for a modular home. Not sure why or if this applies elsewhere. Just another point to consider.
I live in Oregon too , thanks for your comment something to think about as I’m considering buying a modular home. Idk what you think of Factoryexpo Homes in Woodburn, OR?
Also if you take for instance the United States you take a modular home from deer Creek homes and a manufactured home from sunshine homes then it’s like comparing Coke and Pepsi.
Hi Kerry I like a lot your videos. One suggestion for you, get a better mic cause your videos has always low volume. Keep up the good job. Thank you . Cheers!
Do you have any tips on updating an older manufactured home? We just purchased and are having issues finding people to work on our home. We want to do a total exterior Reno, but over time of course.
Do you think clayton homes is any good? I was going to get a modular home but they wanted 11% interest thew their loan people. Who all offers loans for modular homes that would offer lower interest
We don’t have Clayton in Canada, I’ve never been in one. 11% is crazy! I always suggest people go to mortgage brokers, seems like a lot of times the financing ends up with credit unions.
Every home can be picked up and moved so there is no such thing as mobile home and only the type of construction methods and foundation used in the process of building the home differ
Umm no modular home is better because it's better build. Better value later down the road. And it's sold like a stick home. Unlike mobile home u get a car title.
Part of the problem with either type of home is the hidden costs like the cost of the property, moving the house, pouring a foundation or slab, getting it set up with utilities or a well and septic system, the options of materials used on top of the base price. It used to be an affordable option (that's why you see so many single and double wides out in the country). Now that they're making these homes look more like site-built homes, they have become increasingly more costly. If I have to pay over $200,000.00 for a modular or manufactured home, I won't be able to afford to put it anywhere I'd want to live because the add on costs are just too much.
great video. One important point .... at least here in NY ... a manufactured home on blocks or piers is not considered a "permanent" structure and it is not taxed as if it were a house. So your property taxes remain the same as if there were no structure. That's not the case with stick built or modular. Here in NY that can save you literally THOUSANDS of dollars every year.
Great point
Great point !
So something like a double wide wouldn't be taxed? That's pretty neat if true. There are some very nice double wides out there. I hate that they get such a bad name linked to them when people think of them. Like, trailer park trashy, when in all reality I've seen very very nice double wides.
Where in NY are you? I live in NJ and own 50 acres in Sullivan County. I am looking at manufactured homes because I am the only one who will use it. I love to hunt and my wife wants nothing to do with it. This is why I am considering the cheaper route with a manufactured home.
@@Rcol4427 I live on Long Island but I have a second home in PA. I am building a modular home there though so my taxes are going up. Check all your laws. Pretty sure in all of NYS mobile homes aren't considered "real property" but rather "personal property". Got to make sure that you don't have it on a slab or a foundation of some sort. I think it has to be on piers or blocks.
Another great video. The decision between which is the best option appears to be determined by local zone regulations. Thanks for your wisdom!
Thanks John! Enjoy the rest of your Sunday 🙌🏼
In the 70s my parents built a modular on a full basement and it was the home I grew up in. I have very fond memories of that house. I like either option, so for me I think it will come down to affordability and where I can get some land as well as any of those pesky regulations you mention : ) Thanks for another informative video. These have been very helpful.
You’re welcome! Glad to hear you’re finding them helpful, thanks for watching
There's a UA-cam channel a man created called "Never buy a Clayton". His home was badly damaged by the installer when it was placed on his foundation. Neither the installer nor Clayton would take responsibility. Lawyers got involved to shut the case down. The homeowner brought in state officials that oversee manufacturered homes and they too covered it up. He's got all these folks lying on video. It's really ugly that neither Clayton nor the state would help to fix the issue. He really deserves a new house and, after almost 3 years of hell, monetary compensation. This story makes me think twice about buying a manufactured or modular home. And especially not a Clayton. I think you should look at his video. It's long in 9 parts. And gets pretty emotional.
Thnks for the info. Will look into it. I am in the market for a manufactory home.
Clayton is owned by Warren Buffet which makes Clayton an even bigger travesty.
Always appreciate your insights and industry savvy, Kerry. Thanx for keeping us educated!
My pleasure!
In the United States manufactured homes are built to the HUD Or housing and urban development standard modular homes on a permanent foundation are IRC International residential code.
Thank you!
@@KerryTarnow You’re welcome. :)
I love your videos. Very informative. Thanks for sharing.
You’re welcome! Thanks for watching 🙌🏼
Can you elaborate on how you would describe "crawl space"? We've been looking for some time and have noticed not everyone defines crawl space the same way. By the way love your vids so far; very well done!
Awesome video young man! Very detailed and well versed ....you were on point with all the info too..... It can be very confusing for people on what the differences are between MODs or MAFs.....
Thank you!
I like the flexibility of a manufactured home because if you ever wanted or needed to love it you have that option. Also taxes are a lot cheaper
Good points!
Looks like the keyboard got the best of you. You wrote "because if you ever wanted or needed to love it" but I think you meant to say "because if you ever wanted or needed to MOVE it"
Are the three builders you mention good ones or have you done a review of reputable manufacturers? If not could you please direct me to a place to find reliable reviews and information?
A modular pre fab build is appraised the same as a traditional and its listed as new construction. But! A manufactured home is not and you receive higher than average interest rates along with everything else.
Is a modular home considered real estate that qualifies for a conventional mortgage whereas a manufactured home is not considered real estate and needs a loan more similar to an auto loan than a mortgage? Or can you place a manufactured home on a permanent foundation and have it considered real estate? You have a great series of videos.
In Arizona like many states you can choose to have your home taxed as a vehicle or real estate. Claiming it as affixed and the intention is never to move it and you pay property tax for the land and home as a package. If you claim unaffixed then you have the option to move it off and have to keep trailer tags up to date on it. As it ages and depreciates you pay lower tax on the home and pay seperate property tax on the land.
I found very few lenders willing to lend for my manufactured home and so I can't compete for good loan rates. Not sure it that applies to modular homes.
Also depending on how you pay for your home, you can have the option of who to install and set it up on piers or a foundation.
Manufactured homes (aka mobile homes) tend to bring down area values much more than modular homes. I know that's going to upset some people by me saying that but its true. Let's be honest here. How hard is it to find a mobile home park that's filled with a bunch of trashy or neglected manufactured (or mobile) homes? Answer, no too hard. Then ask yourself, how often do you see trashy or badly neglected modular homes? Answer, you really don't because modular homes are quite often found by themselves which are usually kept nice or they're also found in regular neighborhoods with traditionally built homes.
Incorrect. Fact Department of Revenue for the first time in history appreciated all "mobile homes" for the first time 2008. Fact folks look at the sales 2007-present day. Use Illinois you may 😅access all information for proof. 😊
OK Karen. Gross.
In Oregon at least insurance costs are substantially different for these different home types. The Insurance quote from the same company for a similar sized manufactured home was over three times higher than for a modular home. Not sure why or if this applies elsewhere. Just another point to consider.
I live in Oregon too , thanks for your comment something to think about as I’m considering buying a modular home. Idk what you think of Factoryexpo Homes in Woodburn, OR?
I would be happy with either one as long as I can put it on my own lot
Is that possible?
@@juniorjay243 yes it is
Also if you take for instance the United States you take a modular home from deer Creek homes and a manufactured home from sunshine homes then it’s like comparing Coke and Pepsi.
Another important factor is which option will retain/gain more value over time.
What company's do you feel are the better ones with better quality for manufactured homes?
How much land do you need for a single-wide manufactured home?
Hi Kerry I like a lot your videos. One suggestion for you, get a better mic cause your videos has always low volume. Keep up the good job. Thank you . Cheers!
Do you have any tips on updating an older manufactured home? We just purchased and are having issues finding people to work on our home. We want to do a total exterior Reno, but over time of course.
Another Great Video very Informative ⭐️
Glad you enjoyed it
@@KerryTarnow always keep up the great work ⭐️
Great video! So informative
Glad it was helpful!
Thanks.
Thanks for watching
Do the manufactured homes come wheels so they can be put in a trailer park.. because they have to be moved
what is your opinion of Triple M homes?
Do you think clayton homes is any good? I was going to get a modular home but they wanted 11% interest thew their loan people. Who all offers loans for modular homes that would offer lower interest
We don’t have Clayton in Canada, I’ve never been in one. 11% is crazy! I always suggest people go to mortgage brokers, seems like a lot of times the financing ends up with credit unions.
Deer valley is better
Good job😎
Thank you!
In ny modular holds there value and manufacturing house depreciation is sad
Every home can be picked up and moved so there is no such thing as mobile home and only the type of construction methods and foundation used in the process of building the home differ
Are you smoking crack? Homes built into the ground over a basement cannot be moved
And then there's Panelized homes....
How can I get in touch with you directly?
Send me a dm on instagram: kerrytarnow
Umm no modular home is better because it's better build. Better value later down the road. And it's sold like a stick home. Unlike mobile home u get a car title.
I’m still confused 🤷🏻♀️ 😂
Haha! What part?
Watch Never Buy A Clayton Manufactured Home on UA-cam
Could you talk any slower
Im reading this as if Chandler from Friends is commenting 😂
@@KerryTarnowr.i.p. Chandler