The Rise of the Modular Home

January 4, 2018 , In: Advice, Real Estate , With: No Comments
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Part of the American dream is to buy your own home at some point in your life. It’s what everyone knows is the next step after renting an apartment or home, so a lot of people feel social pressure when they start their search. There are many issues that can complicate the home-buying process, and one of the big ones is the price tag.

Homes are expensive because of their size, materials and the labor it takes to build them. The prices of homes change with time, but they’re currently rising because of a labor shortage. That’s why more and more people are considering modular homes. They’re more affordable, and because they ship in pieces that are ready to go, moving in can be a quick process.

If you’re looking into buying a home in the near future, check out some modular homes. An in-person visit can help you make the best decision for yourself.

Modular Home

Modular Home Pros

The feature about modular homes that often trips people up is the fact that they’re built in pieces in a factory. Oftentimes, people associate this with shoddy construction, but the reality is the opposite. Being produced in a factory setting means they’re made to an incredibly high standard. You can also design your own home, which opens up the modular home market to homeowners that want to move into a place they’ve created for themselves.

The home pieces are easily put together in an average time of three months, so you don’t have to wait long after picking out or designing the home of your dreams. The loans for a modular home are different too. When you sign up for a loan, you don’t have to start paying it back for up to a year, which gives lots of cushion time for the builders and to let you get settled in.

Modular Home Cons

To install a modular home, you need land to put it on, which means you need to buy property first and add that to your total cost. In addition to having to pay for more than just the home, you’ll also have to look into any potential land restrictions. Some places view modular homes the same as mobile homes, and won’t allow them in neighborhoods.

One of the most important things to consider before buying any home is to think about your future. Is this a forever home? What happens if you have to move? It can’t be denied that modular homes are a more difficult sell online for people trying to move elsewhere. People read that they were manufactured and assume it means low quality. You’ll have to work against modular home stigmas in order to have a quick turnaround.

Is It Like Buying a Regular House?

Setting the pros and cons aside, the process of buying a modular home is very similar, if not identical, to buying a regular home. There are still many steps to consider when buying a home that can unlock your new-home potential. Things like checking your credit and creating a budget will show you what to look for. You’ll still have to make a down payment and decide what home features are and aren’t negotiable.

Before you buy your dream home, make sure you know there are multiple options. You don’t need to stretch yourself financially. Check out some modular home options, see if any of them meet your needs and price check so you can get the best deal possible.

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Megan

Editor at Your Wild Home
Hey! I'm Megan. I am a dog-lover and enjoy exploring the outdoors. Your Wild Home covers a lot of topics, including (but not limited to) home improvement, home decor, construction, real estate, and sustainability. I enjoy writing in third-person and I am addicted to chocolate, coffee, and terrible puns. Learn more on my About Me page!

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