Does your bank’s appraiser know this?

Modular Homes Appreciate in Value
Like site-built homes, modular homes, actually appreciate in value over time. Many are unaware of this fact and assume that modular homes depreciate in value. Why is this?
There’s a lot of confusion when it comes to homes that are built in an off-site facility. When some people hear the phrase modular homes, they think of mobile or HUD homes, but these types of homes are far from the same thing as a modular home.
What’s the Difference?
Modular homes must be built to meet or exceed the same state and local building codes as a site-built home, and they are appraised as if they were a site-built home. If they’re held to the same standards, why shouldn’t they be appraised similarly?
An article posted by discusses this topic in more detail and does a great job explaining the appraisal of modular homes. It explores the differences between modular and other types of manufactured housing. Click the button below to read more!
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