Manufactured vs. Modular Homes
Understanding the Differences for Accurate Appraisals
When it comes to appraising homes, it’s important to know the difference between manufactured homes and modular homes, as they have distinct characteristics affecting value, financing, and insurance.
Manufactured Homes
Built entirely in a factory and transported to the site
Built to the HUD Code (federal building code for manufactured housing)
Typically placed on a permanent or semi-permanent foundation
May depreciate in value over time like vehicles
Often financed with personal property loans (chattel loans)
Modular Homes
Also built in a factory but constructed in sections (modules)
Built to local or state building codes like site-built homes
Assembled on a permanent foundation on-site
Typically appreciate in value similarly to site-built homes
Usually qualify for traditional mortgage financing
Why This Matters for Appraisals
Manufactured homes may have different valuation methods than modular homes
Lenders may have specific requirements based on home type
Insurance premiums and coverage options vary
Buyers and sellers benefit from clear understanding of home classification
Questions?
We’re happy to help you get ready. Contact us if you’re unsure about anything or want to confirm what the appraiser will need to see.
📧 Email: info@accurateappraisalsofnc.com.
Accurate Appraisals of North Carolina, Inc.
Expert appraisals in coastal North Carolina areas.
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