what else is new?

Some of the newer, fancier terms for modular homes include UBC, IBC, or IRC. UBC stands for 'uniform building code', IBC stands for 'international building code', and IRC stands for 'international residential code'. The most common of these terms is UBC. They all mean basically the same thing- the home is built to the same local code as site built. Sure, modulars are mostly assembled in a factory, but the materials and the way the home is constructed is the same as a site built counterpart. Generally speaking, a modular home will cost 20-30% less than site building. Supposedly, these homes will appraise or 'comp' the same as site built homes in the area. But be careful- there seems to always be a separate set of rules for our industry. The finance of modular homes can be very tricky. That'll be a good one to discuss tomorrow...