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Make sure for a fact that the land has all utility hook ups.
You need to look at location. Look at where you are and what the market is. I know from friends of mine who are builders/developers and architects who work with them (and whom I’ve partnered with) that today’s modular homes are nothing like they used to be. Pretty much indistinguishable from stick-built. I was working a few years ago on building a vacation home community with a working farm where an architect friend of mine with whom I was working on the project that modular homes these days are really well done. That was our plan. Unfortunately, the area we were looking at had land use restrictions and land owners whose final offers wouldn’t make the numbers work, so we had to abandon the project.
Subject Expert
Might be a higher percentage downpayment depending on the bank.
I have a friend who is working on this now.
Coach
Seems viable, I think you’d just use a construction loan like any home construction. Utilities depends on the land. On my land in the middle of nowhere it would be 30-40k for drinkable water, septic, power, and I’d use starlink for internet. In the city you have hookup fees if everything is at a nearby street. As I understand it modular homes are considered stick built not manufactured homes. I think that’s a huge advantage for reselling it. A lot of people won’t buy a manufactured home, including me.