Modular Homes

Get new comments by email
You can cancel email alerts at anytime.
Comments (4)

Jim in New York, New York

109 months ago

I am moving out to the Albuquerque area in a few months and I am looking to buy a house when I get out there. After doing some research online I found some information about a company called Falcon Ridge Development that builds what they call modular homes. They say that they are factory built homes, but that they rival any site-built home for aesthetics, and are superior in terms of quality, value and time to construct.

I am not familiar with this style of home. Is it as nice as they say or is investing in something like this a bad idea? Thanks for any help you can provide.

- Was this comment helpful? Yes / No Reply - Report abuse

Meredith in Albuquerque, New Mexico

108 months ago

They are indeed as nice as they say but good luck finding a mortgage, or even better a home equity loan in a few years. They just don't have them for modulars.I work for the largest credit union down here so I'm speaking from experience.

- Was this comment helpful? Yes / No Reply - Report abuse

Jim in New York, New York

107 months ago

Thanks for the info Meredith. I was out in the area last week and actually dropped by to check out one of these houses. They really are nice. I asked the company rep about getting a mortgage and he said it wouldn't be a problem since they will finance the house themselves. He also said that he believed that the attitude towards these houses would change in the next few years and that they should be easier to sell. I don't know about that but after seeing the house it has definitely moved up my list of potential buys. Thanks again for the info.

- Was this comment helpful? Yes / No Reply - Report abuse

mkwj in Valparaiso, Indiana

95 months ago

I have a modular home and they depreciate and are next to impossible to sell, even for what you simply owe on it. Think twice. I wish I had. Now we're stuck.

- Was this comment helpful? Yes / No Reply - Report abuse

» Sign in or create an account to comment on this topic.