You’ve hit a milestone in your life and are looking to find a home. There are many ways to obtain a place rather than the simple real estate agent and Sunday open houses. These days you can do anything from finding a home, building a home, or even ordering one online.
If you’re thinking of building your home, you’re probably stuck between building from scratch or modular home. So, if you’re curious about if a modular home is right for here, here are some pros and cons to help you make your decision.
What is a Modular Home?
A modular home is a house that is mostly pre-built in a factory. The pieces will ship to your plot of land and be put together on top of a foundation.
Pro: Cost
Modular homes eliminate many of the costs that come with building a home from the ground up. The pieces are factory-produced, so you don’t have to worry about any costs for a specific type of home or architectural style.
The materials are then delivered directly to the land instead of having to source building materials from many different places. The pieces are also easier to assemble, so you can cut labor costs with a smaller crew. Overall, a modular home can cost up to 15% less than a house that you build from scratch.
Con: Financing Options
While many financers are making it easier to take out loans on modular homes, it can still be difficult to find the same options when building or shopping for a home. This is usually because modular homes are considered non-traditional buildings.
With the speed at which they are built, it can be hard to find funding in time for the construction. Some of the modular home companies offer their own funding or loan programs so there are options if you want to look into financing.
Pro: Quick Move-In
If you want a home that is ready to go quickly, a modular home is probably right for you. Depending on the type of home you pick, it could be built and ready to go in about 50% less time than a newly built home.
Normal home constructions usually take around 7 months or more. They are also susceptible to delays due to rain, snow, or other weather events. So if you are looking to move into a newly built home at a swift pace modular homes may be the way to go.
Con: Finding Land
Although your home may be built quickly, finding the right piece of land could take up a good chunk of your time. When you’re looking for land, you want to make sure it is big enough to build an entire home. You may also have to work within the constraints of building codes put in place by the location you find.
Buying a plot of land can also cost a pretty penny, so you have to be sure to consider that in your budget when deciding to construct a modular home. This is why modular homes are usually great options for people who want to live in more remote locations.
Pro: Design Flexibility
While it may feel like you would be limited when constructing a modular home, that isn’t the case anymore. Design firms can work with you and their teams to build something truly unique.
Firms can do anything from tiny homes to classical colonials when going through the design process. You can find out more about the level of detail you can achieve in helpful guides and discussions with your modular team.
Con: Home Sizes
Even though the customization of modular homes is getting better all the time, they are still susceptible to some constraints. You usually won’t find modular mansions. But you can find a bunch of smaller-sized modern homes. If you are looking for a massive space, modular may not be the way to go. But if you enjoy something more modest then feel free to try modular.
Conclusion
Deciding to build a house is a big milestone. So it’s important to understand everything that goes with building a home. Whether you want to go modular or stick to the classics, it’s all up to you and the life that you’ll build in your new home.