The VERY COSTLY Differences Between Modular and Manufactured Homes 

l'm looking at both modular and manufactuted homes. lt depends on what kind of financing and insurance l qualify for. This will be within the next 4yrs. l did view your video about the lies about manufactured homes. lt was very informative.

My brother owns a modular home and it looks just like a site built house. It has a full finished basement..2x6 walls.. a 6/12 high-pitched roof.. has an attached garage, 4 bedrooms, 3 bathrooms and an acre of land.

I have seen your video and appreciate all the information you have provided. I am looking at manufactured due to the fact that it is considered personal property and not taxed. Is it better to go with modular? Are there advantages to modular as well?

Sheri Szajna-McKeon if you plan on moving in the future the property will have more equity than it would of you go with a manufactured home.

@@KristinaSmallhorn Thank you so very much! This will be our final resting place, lol. I am hesitant about a mortgage in my 50's but that's what life insurance is for, right?!? 1. I like the way modulars look. Is it possible to add a manufactured addition to make it look more like a house or would that be a mistake or not possible? 2. You mentioned something about not getting a loan from the dealer. Do banks and credit unions do land home packages? 3. Is a triple wide delivered on 3 trailers... thus freight x 3?

Best wishes to you Pumpkin Flatt!

That’s exactly how I feel as well!

Bless you!

I feel the same way. But I don't know what the future has in store. If there comes a time when I'm forced to move, I'd like to know that I did better than renting.

🙏🏼

Classic 😂

I could do vanlife! 😊

Funny enough that’s trending hahaha!

😆😆😆😆

I would love to live in a cozy van. ...down by the river at a beautiful spot, and elsewhere. Like AdventureVanMan here on YT does. And to see amazing places everywhere. Seems to be an exciting and great way to live.

Thank you for your honesty Sam :)

@@davidjamesshaver Thank you! Sometimes the truth just has to be said, even if you don't particularly like it.

Hi Sam! Thanks for your experience and honesty! Do you have any advice on finding a contractor to help install a prefab/modular home?

I wouldn’t think twice about buying a modular home as long as its secured as a stick built but will never consider a manufactured no matter what!

@@msk3905 what do you think the difference is between a modular home a manufactured? Thanks

THAT'S AWESOME!

The point is, if you spend $50k on a manufactured home, that home will eventually be worth $0. If you spend $300k on a real house, that house will be worth more than $300K within a year, and keep increasing in value from there. In one instance you LOSE money, in the other you GAIN money. So if you want to make a smart financial decision it does matter.

@@bobbygetsbanned6049 It may be worth more, but will the amount that it's worth exceed the amount you will pay in compound interest? Compound interest on $300k over 30 years of inflation......you'll probably wind up paying close to $1 million. And with this current insane economy? What if you lose your job? You'll lose everything. On the other hand, if you pay $50k and have zero debt, you can save or even invest that mortgage payment that you would have paid for 30 years, and you can wind up having the cash to buy your dream home & pay it in full. And still have no mortgage payments, & zero debt. So going into massive debt for 30 years may not be the "smart financial decision" you think it is.

@@bobbygetsbanned6049 it will literally never be worth 0, unless it is condemned. A home is an investment, but, it is first and foremost, a home. If you secure shelter, debt free, by 30, then invest in funds, stock, small business, you'll make more profit, than using a home, as an investment

@@guntcheck If you secure shelter, debt free, by 30? This isn't possible for most people, most people are going to have to rent until they buy, so that argument is a fantasy for most people. And no you will not make more investing in the stock market because that requires cash. A mortgage gives you access to the cheapest debt an individual has access to, so you're investing with someone else's money, for the cheapest rate you can possibly get. That it a great tool for people to use as long as they are smart enough to have reserves to get through hard times so they don't get foreclosed on. You can only invest in the stock market with your spare cash, so if you have $1,000/month to invest, which is a lot for most people, your investment starts at $1,000, with a house it would start with the total value of the house, about $300,000K on average in most areas. Both investments go up about 9%/year, so in 12 months you make less than $1,080 on your $12,000 cash investments while the home makes $27,000. There's no comparison, you will make more investing your in primary residence than you will in the market because of you're utilizing leverage, no financial adviser or research would ever tell you otherwise.

But you cannot do that today. The cost of many of these homes built, manufactured, mobile, or twig and spit are $100 per sqft to build now. While true the location matters most, the value of the built house grows the fastest and often times manufactured/mobile homes are built to trash specifications. Heck even built homes standards are poor as it is. Housing standards nearly everywhere are garbage. Leak like sieves, poorly insulated, and just about everyone of them with the cheapest possible materials that barely meet the meager standards required. The hurricanes have driven the prices of housing up far too much an nothing seems to be stopping the problem. I am betting we are going to be seeing another housing bust soon.

@@CD-vb9fi Maybe if you live outside of Austin? People can't afford a house in my city. They start at about $800,000.

Perhaps a better education system would be of benefit for you and your ilk

@@biffmasterson9786 This is not the product of any education system. It is the product of the culture. Perhaps "your ilk" deserved a better education system so you could have understood this?

I am considering the purchase of a manufactured home on leased land in a 55+ golf resort community. Should I run from this notion? Its very well cared for and a pretty area.

yikes. Probably wouldn't be like that here in the majority of this state of MN.

So true.

I wonder if Las Vegas is the new California based on the surge of new residents from CA and the rapidly rising prices ?

That's why there are more homeless people there than anywhere else in the country hahahaha

That will definitely get worse. 🙄

Have you chosen your location yet? In some places it's cheaper to live and property taxes are low. We are looking in the Tucson area, cheap food and low property tax. .

@@traskstoneworks I found the perfect property for a manufactured home that is also near my family, but I can't find anyone to finance since I'm single on a small pension. I have to get out of this apartment and into my own home. Very discouraged.

I live in one and i love it we are retired been in my home for over 20 years id never buy a house again once its paid off the taxes will eat u up so i say live in one of theses i love mine ..

@@sophiemckenzie7527 You find a low property tax state! That's why we dropped looking in California for a retirement place.

@@traskstoneworks i pay 12.89 a year i live in a community and i love it .id never live in California nor any state around there ..we owned a house in Virginia and sold it ..i hated Virginia came back to my home town in Michigan and we happy ..love my place and i have great neighbors ..we are blessed

May I ask which company did you go with?

I was in California years ago. They called them Pre-Fab homes. It was cool to see them set up up in a slab of concrete, because they dont have basements in California. But here in the east coast. I would want a basement. And I dont think those type of homes come built for that.

Hello . California is tough! You did very well . I am on the Central Coast and it is very expensive .

Has not doubled in value. The money used to buy initially has lost its value. You only make money on a home if you buy and then sell in the same “ money value”. All you have achieved is it takes more green pieces of paper ,that has a lesser value, to buy the house you live in.

@@mikekellum6238 that’s not necessarily true either. Housing market plays by a different set of rules. I have a modular home that I bought for $62,000 in 2013. It just sold this past summer for $210,000 and we paid off the $40,000 we owed. A car worth $20,000 in 2013 certainly does not value at $75,000 today. That can be said about many other things as well. Now, if you try and purchase a home with what you made from the old house being sold right away then you will find you’re not getting much in return because they are all valued higher. We actually just paid cash ($72,000) for a manufactured home in Florida on 1 acre. We are in our 50’s and don’t need anything huge. Kids are grown. So now we have no mortgage anymore and $95,000 leftover.

Lucy Fuir Most of that if not all is probably the value of the land.

@@sherriitsamea3476 not at all it was in an 55+ park

Yea in South Miami Dade these things are going for 100000 easy.

Lucy Fuir i dont believe that unless it was in a certain spot in commyforina.

@@googleuser8448Believe what u want. No need for me to lie.

Imagine, the realtor trying to dissuade people from choosing the option she benefits the least from.

Very well said!

I'm a real estate appraiser with 33 years of experience and I can state for a fact that, in the vast majority of cases, what Dave Ramsey said in this video is flat out wrong. Manufactured housing, just like site-built housing, cars, as well as with most commodities, appreciate and depreciate in value at the same time. Their rates of depreciation are driven by their economic lives (how long for which they're financially viable). While the economic life of manufactured housing is generally shorter than it is for site-built homes, a manufactured home's economic life is a lot closer to a site-built home's economic life than it is to a car's. The rates of appreciation for cars, homes and most other goods are mostly driven by how much it costs to replace them (how much a comparable new one costs). Again, these commodities appreciate and depreciate in value at the same time, but because the economic life of cars is much shorter than it is for manufactured housing and site-built homes, a car's rate of depreciation generally outpaces its rate of appreciation, meaning the value of cars usually go down, whereas the rates of appreciation for manufactured housing and site-built homes generally outpace their rates of depreciation, meaning the value of manufactured housing and site-built homes usually increase in value.

That guy was wrong about credit cards, too! You can actually MAKE FREE MONEY using them. Points/cash back...

@@windsofmarchjourneyperrytr2823 Credit cards are great IF you can control them! A lot of people can’t control them and need to stay away from them. My wife and I have 4 credit cards and haven’t paid a dime of interest in 30 plus years. And like you say, we make a little money on them in rewards. But most of the people Dave Ramsey helps are people that need help because of credit cards getting out of control. So it all relative.

Exactly. If you like your home and keep up the the maintenance and beautification of your own home...that's your home your living in...not other people.

Me too! I can’t wait to see in come to fruition.

I'm a Vet. The problem is that nobody wants to work on these. Im in Sussex County, DE and builders try and stay away from these. I need some help in my crawlspace and can get NO help.

@@sgtrickards5683 Whatever you do, do NOT get anything done by a guy named Allen from Laurel. We had a contract with him, he took $15k and ran. BBB won't do anything, and we didnt have the money left to haul him into court to take his business license

@@lovemusicbandchorus go ahead and file the lawsuit yourself. It costs very little to do it yourself and it’s really not hard to do. My DIL had that problem with a contractor and she filed her suit herself in small claims court. It was $12,000. She got a call one day from the Judge Joe Brown show asking if she was interested in settling her case on the show. She agreed, and so did the crooked contractor, so they did the show. She won and got her money back plus damages and the contractor lost nothing because she was paid by the show. Once you’ve filed your lawsuit, you can submit the info to the show and see if they’re interested. Make sure to include any information that could be a “hook” for the show like disabilities, veteran status, etc. For Becky, she’s an Army widow whose husband was killed in Afghanistan in 2011, and the mother of two young boys. Make sure you send pictures of the unfinished work as well. It’s not a guarantee but, it’s worth a shot. Best of luck!

@@sgtrickards5683 Neither can I!

Situations like that make a lot of sense. The problem is the weirdos in the mobile home cult on channels like this that all tell each other the value of their trailer will increase, then people see that and make terrible financial decisions.

Yep, I imagine that mobile home wasn’t 10k or less when new. There are many valid situations where mobile homes are the best choice. But mobile home buyers need to understand that the value of that structure will likely decline faster than in a traditional house.

Very smart move buying land. This is where many buyers fail when purchasing Mobile homes/manufacture homes because the land is not theirs then later you hear cases of tenants getting kicked out of these gated communities. At least you have land you can always build or replace your home.

There are double-wides galore up north in Michigan. Everywhere...like near Baldwin Michigan...70 miles north of grand rapids Mich. I wonder if they can keep bears out. Seriously.

Great idea!! That's exactly what I'm planning todo, please give an idea how to put it in a foundation.

I'm 70, still living in an apartment, am on a fixed income, and the rent keeps going up. I currently pay 2/3 of my entire income on rent! I've been looking at hopefully buying a home in the next 2 years or so, and feel the same way you do.... not interested in making a profit because I will hopefully find a little haven that I can enjoy for the rest of my life. I just want to find a place where my monthly payments are affordable (or that I can pay cash for), and I don't have to keep worrying about how I'm going to eat every time I get smacked with a rent increase.

Same thing me & hubby are planning we already own 2 acres, just need to decide on what to do next. Not planning on moving at all his career is where the land is.

@Allen Loser Thank you, blessing.

Allen Loser You still have to have pier footings and tie downs by code. You just need to pour a perimeter footing so you can lay a foundation of brick or block around the perimeter to hide the tie downs and pier footings underneath. It also provides for some insulation to keep you pipes from freezing.

Thank you for your service!!! I meet with female vets once a week & they are amazing women! (I'm an Army brat myself.)

Ramsey specifically says he is talking about mobile homes being a poor investment, not manufactured homes or modular homes.

@@person800 Manufactured homes ARE mobile homes. Since 1976 the mobile homes have new building codes & specifications but they changed the name from mobile to manufactured as they are pre-fab (pre-assembled and arrive in 1/ 2 or even 3 piece(s). Modular homes arrive in several pieces and are assembled on property site & are not moveable.

Ramsey says any debt is bad. Grant cardone loves debt buys multi family apartments i dont see dave ramsey in a rolls royce or his own private plane

Ur friend got lucky. The person clearly could have bought a new one for that kind of money

In a market bubble. That same home is going to be worth much less soon.

Lender chose for you? By the manufacturer, or did you shop around on a website that gave multiple rates?

17 grand for what exactly?

How many years are you paying for and what was your apr? $17000 could be generous or predatory depends. Most people will pay 1/3-2/3 the price of their home in interest over a 30 year loan.

Hopefully you didn't go ahead with that lender?

Lender here. I have done loans on tons of manufactured and modular homes. If your lender is sliding in 17k and forcing you to put 20% down you need to change lenders. I'm a lender in the south mostly in TN and GA. Let me know how I can help you get a better deal!

What happened to it?

PERFECT!!

Our HOA fees $120 yr just redid our pool and club house from the 1960 $65,000 very nice job. We have three public parks play grounds, fishing piers . Don’t over pay HOA fees. Or yes your getting ripped off.

where?

Hertford, NC. There are a few out this way. Holliday Island, Snug Harbor, Chowan Beach, Arrow Head Beach. All these on rivers or sound water inlets

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs LisaI think that she is best broker I ever seen

Thanks for introducing me to Mrs LisaMy first investment with Mrs Lisa gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known

Yes I'm also a living testimony of expert Mrs LisaMrs Lisa has changed my financial status for the best.all thanks to my aunty who introduced her to me

Mrs Lisa is obviously the best, I invested $3,000 and she made profit of $28,000 for me just in 15 daysHer success story is everywhere

Who's this professional everyone is talking about I always see her post on top comment on every RU-vid video I watchedI think I am interested how can get in touch with Mrs Lisa

foxopossum thanks for watching.

I was watch videos on how rice is made and 2 dudes who faked being strongmen and then this video. Looks like the algorithms are all jacked up, fake news...lol

Kevin Roche I’m not fake! I’m a real person. 😁. Thanks for stopping by.

@@KristinaSmallhorn i know, i enjoyed your video. Informative and interesting. Keep them coming.

@@KristinaSmallhorn y would u say that nobody said anything concerning that

houses here sell for as little as 30 thousand with 3 to 4 acres

@@sissymurphy9620where?

Why should a manufactured home built with sub par materials retain their purchase value???????

The “gurus” like to talk. That’s their favorite thing to do.

@@KristinaSmallhorn thats the truth 😂

Lol. That Dave Ramsey guy is a clown. Every person that calls his show goes like this.."Hi Dave. I'm 22 and paid off 30k in credit card debt in the last year using your expertise. I have 100k to play with and wonder if I should pay it towards my 500k mortgage or buy a rental income property..??" Right. All 22 year olds are rolling dough earning six figures or close to it. Already own a half million dollar home..such a scripted bs thing. Lol😏

@@gypsygirl9 Yeah, most 22 year olds are living in their parent's basement and spending all day playing video games..😁

I think he's talking more single wide and double wide rectangular prism homes more so than a manufactured home that does not look like something brought in on a truck.

I bought a property w a manufacture home. It is paid off and I am renting it out.

He clearly said MOBILE homes...it was even in the caption of the caller on the screen.

He's incorrect about several things

Dave Ramsey is OFTEN incorrect but he has attained guru status peddling common sense.

Thank you for watching and commenting.

Thanks for sharing! You are the best space man. 👨

I made money on my manufactured home.

Yes, and traditional houses that were worth $200k at the time are now listed at over $500k in some places. This bubble will not last much longer, and when the market finally collapses the manufactured homes will be worthless, but that's not gonna be the biggest issue considering food shortages, black outs, and general economic die-off will be the most of our troubles. The silver lining might be that people owning manufactured houses won't take as severe of a hit considering most traditional homeowners will face the same suffering with higher value of loss, likely lots of repo for those with big mortgages payments.

BOOM 💥 that’s awesome!!

And Electric, site prep, running the water lines or putting in a well.

My husband and I are in the process of building a modular home right now. Just to file our deed with the county clerk it cost $378. Plus add $30 to get an assessor to put a stamp on the tax forms. You also forgot about the land survey which you need two of them if you want to get an construction to mortgage loan. The Land survey cost about $1,250 and the second one after foundation is put on is about $750. Plus you got to factor in the cost of contractors and sub contractors, etc.

That’s why it must be real estate tied to land. Any equity in a home on rented property is lost due the cost of moving and installation elsewhere.

Are you buying land to put the home on? I am thinking of buying land and purchasing a modular home. Is it really complicated?

I had a clayton built precovid an was hung up for sometime during the plandemic. We looked at stick builts an manufactured. All in all we saved about 60-70k for the same size house had we went stick built. Its a nice home but by no means is custom. We are in our early 30s so its perfect. We dont need a massive mortgage.

W W great advice!!

Allways buy OPEN rural unrestricted no CCR etc and you will be fine in all areas! Just insure you have a electric line close to your property!

@@michaelsmith9308 hello i have a question regarding your comment, i have just purchased unrestricted land 1.66 acres with a well and septic already on the land, my question is, just what does it really mean to have unrestricted land?, I'm new to the land owning community, i was told that i can't live in a 5th wheel as a permanent residence, however if my 5th wheel is on a permanent foundation like a concrete slab wouldn't that be considered a mobile home?, also i hear that i can only have a 3 bedroom dwelling unit due to the septic, so would i be allowed to put 3 one bedroom tiny houses on my land?, idk how all of this works but i thought "unrestricted" residential/agricultural meant that i don't need to get any permits, no zoning etc. Can you please provide me with some info or maybe some ways around this for living in a 5th wheel as a permanent residence?, thank you in advance

@@khadijahdavis1572 land gets "perked" for maximum amount of bedrooms/ septic size. If you already have 3 bdrms in your home you CANNOT bring in a 3 bdrm manufactured home because you will be in violation. You can be cited and levied a monetary violation for every day the unit isn't removed because it violates health regulations. Also, many places restrict hooked up RVs in addition to your home. Every place has its own housing codes so it pays to be familiar with them. Many of these regulations can be accessed through the state's web site. You DO want unrestricted land for manufactured or modular homes. Most restricted land requires brick and mortar, site- built homes. Once again, this varies by state so always check this out in advance to avoid costly, heart- breaking errors that can bankrupt you in penalties. Hope that answers your questions. Regarding the 5th wheel business this does not refer to a manufactured home that is placed on a foundation. You still have to get permits for unrestricted areas to comply with local laws (doing anything with the land constitutes improvements which affects the taxes you pay). I can't stress enough to check your local laws governing land use and dwellings.

Then if that’s not an issue for you then you should do it. That’s my plan for retirement. I don’t care if it goes down in value.

I've lived exactly like this for the past 35 years. I have an acre and a manufactured home. I paid off the home 20 years ago, so all I pay is taxes and utilities. Before you invest, learn basic carpentry skills! Plumber hate to work on them, so make sure that you get standard plumbing...and access panels to services like bath plumbing and water heaters. Research, research, research! The biggest problem is that you must decide what is important to you. You have options if you buy new. Do you really want that dumb island and an open floor plan? Take your time and look around. There will always be issues, just like in a stick built home. I've had to rebuild my yard water service, the electrical input, put in two new heat pumps, and have repainted countless times. Be aware of drainage, and get the best skirting available, preferably one that does not involve paint. Nevertheless, I've enjoyed my home, made modifications to it, and found that it is much cheaper to live in than a stick built home.

@@DodiTov latest heat pumps are variable speed, and instead of elect element when it gets too cold, they work on nat gas or propane

@@justthink5854 True. The advances are enormous, but you still have to do your research! Given where I live, gas is not an option, so I've done emergency preparedness for when the power goes out. My latest pump is excellent and I'm very happy with it.

@@DodiTov are you all electric? no propane? and i guess your climate is 90 summer and 20's winter?

Thank you for sharing your experience so others don't make the same mistake. So sorry this wasn't pleasant experience for you.

Raad Alawan thank you for watching.

Why must men hit on women when given the oportunity? Lol

@@royhkusp1 opportunity, means and intent

@@royhkusp1 Get a life

@@royhkusp1 Why is it automatically hitting on a woman to say she has addictive content and a great personality?

@@GovShtDwnChimps Exactly! I thought it was a nice compliment! One of the reasons I subscribed was because of what that writer said about her. Had a similar thought.

Trevor Doge I totally understand. I’m actually considering buying 3 smaller manufactured homes and putting them on a large piece of land to keep things more simple in my life.

@@KristinaSmallhorn do you have any videos on how to get that done? The steps to take? The process? Thank you!

That’s awesome!

I am going to film a video about manufactured homes this week. I will be trashing people who trash this very good affordable housing option.

I like Dave Ramsey except when he speaks about manufactured homes. He has said "its a car you sleep in" in several podcasts, which burns my butt every single time.

Kay J Carp Ramsey is not the fount of wisdom many believe him to be. Your problem with his attitude towards manufactured homes in only the tip of the iceberg.

@@KristinaSmallhorn Why? If you buy a car you love, and drive it daily for 14 years and it cost 30k, but you smile every time you start it...where's the loss? Car-wise, 2 doors are worth more. Then, insurance, maintenance and garaging, plus... I mean, drive it 300 days for 14 years, that's 4,200. If you pay 40k for it a year old, that's 9.53 every time you drive it. Not to mention other costs, depreciation and such. The more you use it, the better your value.

Most of that is probably the land

@@kbanghart And the rest is Inflation.

@@JoeZyzyx is real estate affected by inflation that much? I don't think home prices are going to fall by a lot

@@kbanghart Actually, when I worked with real estate salesman license in my Dad's firm between 1975-1981, it was home mortgage rates that affected home prices most. Remember, it was Jimmy Carter years, with first inflation, then rising interest rates. Wage and Price increases had been frozen while Nixon was in, but in truth mostly it was Wages that failed to rise, even with inflation rising. Mortgage interest rates were running 8-10% as I recall, and this actually depressed home prices, because fewer buyers, renters instead increased, and home owners were reluctant to sell homes which had failed to rise in price along with inflation. I left for AF duty end of 1981, when Reagan was in office, but it still took 2 years for him to get things turned around from the Carter years. I remember gasoline was 40 cents per gallon, and due to Arab Oil Embargo, and gas lines, even rationing by license plate numbers (last number either odd or even to determine if you could buy fuel that day), so gas prices rose to about 75 cents per gallon. In short though, I'd have to say mortgage interest rates have a greater effect on real estate market than inflation itself, but both did contribute to hard times in real estate markets then. It was when mortgage interest rates began coming down, that the price of homes started rising again, since more buyers appeared to buy homes instead of being renters. Rent values were relatively low during the higher interest rates. It was sort of opposite of what was expected at the time, but... live and learn. What about today? The Federal Reserve is raising interest rates, due to inflation, so I expect the same to happen again, but I don't think it will be too bad an impact on housing costs till mortgage interest rates get near 6-7% rate. That's about where it was when home sales died off back then. History repeats itself usually. As interest rates finally began dropping in the 80's, and home sales were recovering there were many who also wanted to refinance the mortgages they were suffering under the higher rates. My Dad then went exclusively into Appraisals only, since all the refinancing of higher interest home loans, which had to be backed by current appraisal, and that's where the better income was for him. Dad passed in 2011, a year after retiring.

@@JoeZyzyx thank you for sharing. My dad was a realtor and he also passed in 2012

Mr51Caveman Wow, your home builder should have been able to do those upgrades for you! Mine will when we buy.