Buying A Home
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Experience building a modular?
We are in the process of purchasing land for our first home and are doing research on modular vs. builder. Any experiences, either way, good or bad?
TIA!
Re: Experience building a modular?
No personal experience with this, but I do have professional expereince with it.
Prior to being a SAHM, I working in banking as a loan officer. Many banks do not do home equity loans or lines on modular homes per their own lending guidelines and restrictions.
If down the road, you ever wanted or needed to do one of these, you might have a tough time getting the best rates or even approved just becasue of the type of proeprty it was.
Of course, things are always changing with lending, but it would be something to keep in mind.
we had a horrible experience. We went with a company who boasts "if you can dream it, we can build it"...so we gave them plans and asked for the house we wanted. They could not get it right. Everytime they sent back drawings of what they could do for us it wasnt what we asked for. For example, they kept wanting to put the garage on the opposite side of the house. We'd send the plans back saying NO and telling them what we wanted and agan they'd send it wrong. GRRRR...It got so bad that we cancelled. Now, to add insult to injury, we couldnt buy direct from them, you had to go thru an authorized builder. So that was how we did it and when the builder even told us that if we just wanted to back out he'd understand considering teh blunders that were occurring. Well, teh company wouldnt give us our deposit back ($ 5000.00) because the builder ( from their approved list) owed money to them for someone elses house!!!!
We ended up suing the builder to get our money back. ( we got the $$)
We stick built a house and love it.