Pros and Cons of Modular Homes
When you’re moving to a new home, you have many different options available. Choosing between doing a new build and purchasing a house that has already been built is one of the first choices you have to make.
If you choose to build your own home, you should consider a modular home. This type of new build is becoming more and more popular! Before you make your final decision, though, you should consider the pros and cons of modular home construction.
The Advantages of Modular Home Construction
Lots of home buyers don’t know much about manufactured homes and all the great qualities they have! Some of the advantages of choosing a modular home are:
- Customization: Some people have the misconception that modular homes are like cookie cutter houses, but that isn’t true! Tons of different customization options are available, from the exterior style to the flooring to the floor plan.
- Time: Modular homes are built at a different site than your plot of land. This keeps delays from weather and other factors from setting back your timeline.
- Cost: Constructing manufactured homes is a much more efficient process compared to traditional home building. This streamlined process helps cut down costs, making modular homes more affordable.
- Energy Efficiency: After your manufactured home is finished, you have the opportunity to save even more money. Those with manufactured homes often have lower energy bills from month to month than other homeowners.
Modular homes have many unique advantages over traditional new build constructions. But, they also have some disadvantages you need to consider:
- Financing: When you’re looking for financing for a modular home, the process is a little bit different. You have to get a construction loan, on which you will pay interest until the construction is finished. Then, that loan turns into a traditional mortgage. The different process can be a little bit confusing for home buyers.
- Land: The cost of your manufactured home and the cost of the property are two different parts of your budget. Sometimes, land can be a little bit pricey. Negotiating two separate purchases makes the process a little harder.
- Stigma: Even though you can’t tell the difference between a manufactured home and one built traditionally, some people have very negative attitudes about them. This may become a problem down the road when you sell your house.
If you’re considering this type of home, you need to weigh the pros and cons of modular homes to see if it’s the best fit.