Modular Homes: Senior Housing Option
Reducing a building into modular component pieces to enable quick assembly is not a new concept. There are three stages of family life (early, crowded and late) and each of these stages has different space requirements. The later stage looks to the basics again as the children move out on their own and the care and upkeep of a large family home might be too much to handle.
A modular home is an option for retirement living. Rather than remodeling your large family home, you might find it less costly and more energy efficient to look into a modular home. You are no longer stuck with a basic floor plan but can work with a designer to computer generate a plan that will meet your personal needs.
Modular homes look like any other homes and can range from small simple starter home designs to large custom-built homes. Affordable log and timber homes are included in the category of modular homes. A modular home (designed, engineered and built in a factory) is constructed in sections and put together by a builder on your site. Modular homes, when you add up the costs of labor and materials, are generally lower than in cost than a site-built counterpart of a comparable size.
There is no distinction between modular and site-built homes when it comes to appraisal, financing and insuring issues
Source: The Craft of Modular Post and Beam Building