Have questions about modular home buying? Find out the top 4 reasons buying a modular home is a great choice.
Modular homes are a rapidly growing segment of the new construction market. With many benefits over stick-built (where all facets of
construction occur on-site,) modular homes are more than a viable choice. For many reasons, they can be a better choice. Here are the top 4 reasons buying a modular home is a great choice.
1. Standards – Modular homes must meet the same building codes as stick-built construction homes. Standards are stringent because
components are not only built to last onsite, but must also meet or exceed all building codes after being transported for miles from factory to
home site. A typical modular home can be subject to as many as 300 inspections over the course of construction.
2. Cost – Because of the efficiencies employed in the modular home building process, costs are usually less than onsite stick-built homes.
Economies of scale, year-round employment of skilled craftspersons all make the cost of construction very affordable, without sacrificing quality.
3. Construction Process – Modular homes are built in factories, so there is little concern about weather delays in the construction process. The
process is faster. Rather than a six month to year-long build time, modular homes can be assembled in much less time – from weeks to months
instead of months to a year.
You might not realize the choices available in modular construction. Factory-built does not equal cookie cutter. Customize your one or two-story
home with a world of construction and finish options.
4. Resale – Modular homes compete in the resale market on the same playing field as stick built homes. Modular home builders have every
reason to bring a product to market that will satisfy the initial customer and give them peace of mind as they factor resale value into their buying
decision. They are appraised in the same manner as their stick-built counterparts.
One point of clarity. Modular homes are NOT mobile homes. Modular home components are built in a factory and assembled onto a permanent
foundation. They are real property for you to enjoy and benefit from, and when the time comes, the home will compete in the resale market just
as any piece of real property.
*Bonus: Things to Know When You Go to Purchase
Land – land cost needs to factor into your decision when it comes to modular home construction. Consider not only the cost of the land
purchase, but the cost of improvements (storm water management, water, septic/sewer, electric, etc) to make the land approved and
suitable for building.
Financing – New construction financing differs from a traditional mortgage. Be sure to consult a lender familiar with new construction
financing. Certain lenders will even combine land and home purchase into one lending process.
Modular homes can present a real opportunity in terms of value and quality. High standards, competitive costs, a streamlined construction
process, plus solid resale value make modular construction a great home purchase choice.