Modular homes allow you to fully customize your floor plan and amenities. As people start building families, having a home they can create to meet their needs is desirable. More retired people throughout the United States are looking for a smaller abode close to friends and family, according to the National Association of Realtors. Modular homes can meet all of these needs. However, it is imperative to explore the pros and cons before making your final choice.
Construction is Fast
Compared to a traditional home, modular homes are relatively fast to build. Once you choose your home, the manufacturer will start building it in their facility. They have the materials and everything else necessary to build right there. You will not have to worry about construction delays associated with materials.
You also do not have to worry about weather delays since these homes are typically built inside a large facility. With a traditional home, rain and snow often cause the builders to need to take days off since building a home in this type of weather can be dangerous.
You Save Money
Compared to building a traditional home, a modular home is approximately 10 to 20 percent cheaper, according to Money Crashers. Since these homes are built and ready for moving in faster, this saves you money on the rent you have to pay for a temporary place to live until your home is move-in ready. You also have a chance to choose amenities that better match your budget.
Quality and Customization
Modular homes offer customization options that may be more difficult to implement in traditional homes. This allows you to put your personal stamp on your home. It also ensures that you have the amenities that will make your time at home comfortable and enjoyable. Read more now to learn about the possible options.
You will explore multiple design features and styles when you are planning your home. You can find anything from log cabins to modern simplicity. You also have some leeway when you are working on your floor plan. Other possibilities include adding a garage, bonus room or basement.
They Are Not a Mobile Home
Modular homes are sometimes confused with mobile homes, but they are very different. Modular homes are far more durable than your standard mobile home. The resale value also tends to be higher with a modular home.
With a mobile home, you usually cannot customize the features, but you can with a modular home. Modular homes also tend to be sturdier, so they can hold up better to severe weather, as well as general wear and tear, compared to a mobile home.
If an eco-friendly home is something you desire, a modular home can be an ideal choice. This home is built to exact specifications limiting material waste. The materials that make up the home can be eco-friendly options. Since construction is done in a factory, a modular home causes fewer environmental disturbances. You may also get to include energy efficient amenities to further the eco-friendliness of your home.
Different Loan Process
The loan process for purchasing a modular home is a bit different compared to the process for buying a traditional home. There are usually a few additional steps you will need to complete. For example, before the builder completes your home, they will expect to be paid in full in most cases. Another factor to consider is that you might benefit from a construction loan before a mortgage loan depending on the financial requirements.
You Have to Buy Land
You will need to buy land to put your modular home on. This should be completed before you start the buying process for your modular home. Make sure that you are aware of all restrictions and costs involved in buying the land and preparing it for a home. For example, you might need to install electricity and a septic system.
Certain municipalities or neighborhoods may have restrictions that could make placing a modular home challenging. For example, some areas may not allow new construction. Before you buy land, it is imperative to explore any potential land building restrictions.
Once you find a plot of land, you also want to make sure that it allows for residential construction. There are some plots of land that are zoned for commercial use only. Lastly, if you choose land that is near an endangered species or protected nature, this could pose problems regarding your freedom to alter the land and built on it.
Zoning regulations in certain areas of the country have not kept up with the modular home market. This is an issue some people face when they want to place a modular home in a housing development. Some developments only want people to have site-built homes. Since modular homes are built in a factory, they might not meet the zoning laws.
Certain areas that are prone to natural disasters might also present zoning challenges. For example, since a modular home differs from a traditional home in terms of support, they might not meet the building codes in areas prone to hurricanes, tornadoes or earthquakes. The codes govern the construction, alteration, design, and maintenance of structures, according to FEMA.
Shipping the Home
Since modular homes are constructed off-site in a facility, you will need to have the different sections shipped to the land where your home will be placed. It can become costly if your land is over 500 miles from the facility that is building your home.
Before getting started with the process, you should discuss the potential shipping costs. You also want to clarify who is responsible should any parts of your home experience damage while they are being shipped. This will aid you in knowing if the shipping is within your established budget. It also prevents any surprise charges once the parts of your home arrive.
After reading through this information, you have a deeper insight into what modular homes can offer. Before making your final choice, explore your finances and the needs of your family to make the best housing decision for you.