Quote:
Originally Posted by Table 5
Thanks guys, really appreciate the feedback. I'm not as concerned about resale, as ideally we'd like to build a home that we'll be in for many years, and I want to make sure I enjoy that home, not worry about what the next guy will think.
My biggest concern is definitely in making sure it feels solid, and that it's still something that you can "modify" in a normal fashion...ie, be able to make changes to the flooring/walls etc as the years go on.
I think I need to find a way to visit one of these homes. From the outside, they all tend to look really nice...I just want to make sure it's the same thing inside.
|
I'd seriously reconsider that bolded statement.
Look into how long the average person owns a home for, there's a reason people move so often. Things change, life changes, you may end up moving, changing jobs, family situation, etc. It's too easy a thing to jump into and only consider the immediate impacts and how a few variables (interior, exterior, renovation ability) will impact what you get out of the house. Consider that you're going to be dumping between 30-40% of your family income for a substantial amount of time into this home from purchase through payoff. Would you invest that much of your family's money in a company without wondering how well it would be valued in 5, 10, 20 years?
Get a realtor (I'm sure Travis can help) to search for Modular homes and how they compare on the market to neighboring houses that are conventionally built.
Actually, I've never financed a modular, I'm guessing they're the same as conventional and not part of the mobile/manufactured pricing segment. But consider how a bank will lend you money on the modular as well, if the interest rates are higher than discount mortgage rates it's costing you more money and will cost the next buyer more money too.