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Hunter Sholar, Real Estate Pro in Cary, NC

Do modular homes in Moore County NC appreciate in value? If so, at what rate as compared to site built?

Asked by Hunter Sholar, Cary, NC Sat May 29, 2010

I am a real estate broker and am trying to gather information to advise my buyer client with respect to purchasing an existing modular home in Moore County, NC.

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2
Hi,
I agree with Don Tepper except that there are some very high end modular homes that started in the high $300's to low $400's in Chapel Hill, now sell for $500k+. Acorn and Deck are those modulars. Otherwise the lower end often look like upgraded manufactured homes, sorry to say.
Web Reference: http://CrazyVivHomes.com
0 votes Thank Flag Link Sat May 29, 2010
Generally, modular homes do not appreciate in value. I can't speak specifically for Moore County, though. And it's certainly possible that in a strong real estate market the values of modular homes will rise. But they generally won't rise the same percentage as a stick-built home. And in a flat market, they'll typically slowly depreciate. Not rapidly, but some.

On the other hand, they can be very affordable and certainly the right option for many people.

The point I'd focus on is: For the same amount of money, what can you buy in a stick-built home versus a modular home? What's the upfront cost? What are the monthly costs? What is the quality of life like?

And if your client is an investor, then look at the purchase price versus the rental income. In many areas, you'll get a much higher return on modular homes than on stick-built homes.

Hope that helps.
0 votes Thank Flag Link Sat May 29, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
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