Why Should I Buy A Modular Home?
March 17, 2021
‘Should I buy a modular home or should I go with the regular stick-built option?’
This is a common dilemma that people are faced with when they are contemplating buying a home. If you are also stuck with something similar, then this article will help you get out of the dilemma. Here we are going to discuss modular homes and the pros and cons of buying them.
So, let us begin.
What is a modular home?
Also referred to as prefab homes, a modular home is basically an assembled home. What this means is that parts of the home are manufactured in a factory-like setup, transported to their site, and assembled. This is one reason why modular homes are also called factory-built homes. Think of them as the furniture that you buy from Ikea, and assemble it after bringing it home.
Now, you must not confuse modular homes with mobile homes, which generally is the case with a number of people. Mobile homes are the homes that can be moved from one location to another (there are specific laws that govern these moves), which basically means that they are not placed on permanent foundations. However, modular homes are laid on permanent foundations, just like a regular on-site home.
Pros and Cons of Modular Homes
Now that we know the basic difference between a modular home and an on-site home, let us take a look at the pros and cons of modular homes.
1) High Quality
Gone are the days when modular homes used to be cheap, low-quality housing options. Modular homes of today are of high quality, often toe-to-toe with the on-site, or stick-built homes. With advancements in technology, modular home manufacturing has improved significantly.
Since the parts of these homes are built in a factory setup, their manufacturing is carried out under strict quality control guidelines and in controlled environments. Therefore, you can be rest assured that the quality of parts manufactured to be used in the construction of modular homes is top-notch.
2) Quick To Construct
The second obvious benefit of modular homes is the time taken to build them. Considering the fact that these components of a home are manufactured in an indoor setup, and all it requires is their assembly on the location, modular homes can virtually be constructed in a matter of days.
Compare this to the traditional, on-site homes, which take months in their construction. External conditions like weather, delays in the transportation of the material required in construction, and so on – the effect of such factors are negated in a modular home. On the other hand, these factors can prove to be the biggest cause of delay if you choose to buy an on-site constructed home.
3) Lesser Priced
One of the biggest plus points of buying modular homes is their pricing. When compared to traditional homes, these off-site homes are priced much lesser. The reason for this is that there are fewer costs associated with the construction of a modular home, and there’s a lesser downtime, which puts an impact on the price.
In many cases, the price of modular homes can be up to 15% lesser than their on-site counterparts. Therefore if you have a limited source of cash, buying a modular home can prove to be the best way to live your dream of owning a home.
4) Easy Financing Options
Lastly, modular homes have easy financing options as well. So, you don’t have to worry about that. In fact, most of the modular homes come with the option of finance through the manufacturer. More often than not, this financing option through the manufacturer is a much better option than any other lender.
Therefore, not only do you get a less priced home but also get a better financing deal as well when you choose to buy a modular home.
Now that we have taken a look at some of the positive sides of buying a modular home, let us take a look at the cons of buying one:
1) Limited customization options
One of the things with modular homes is that they have limited customization options since they are manufactured only in specific configurations. Compared to on-site homes, where you can get virtually everything customized according to your needs, there are limited customization options in these off-site homes.
2) Issues with selling
The second important factor that goes against modular homes is their selling. People looking to buy a home often get turned-off by modular homes. Now, the big reason for this is the negative hype about these homes has become quite prevalent in the market.
If you will do a little research, and look at the numbers, you will find that more often than not the sale of these modular homes is no different than the on-site homes.
Should you buy a modular home?
Well, modular homes are certainly a great option for someone who wants to own a home in quick time and has limited financial resources. Moreover, if you are okay with the limited customizations, then there cannot be a better option for you. so, the answer to this question is – Yes.
However, if you are someone who wants to own a home that has been custom-built according to your specifications, then you must stick to the regular on-site homes.
Whatever the case may be, you must invest time and effort in updating your knowledge about the latest manufacturing options in these modular homes. And, in case you find that it’s too big a task for you to handle you can always choose Negotiator Recognized Partners to do the job for you. Negotiating on your
behalf, these partners will make sure that you end up getting the best deal for buying a home, be it a modular or an on-site one.
If you are looking to buy a modular home, then going to one can be just the perfect idea.
So, what are you waiting for? Find a local Negotiator Recognized Partner and take the first step towards your dream to own a modular home, today!
Published on March 17th, 2021, updated on June 6th, 2022