Modular Homes: Advantages and Disadvantages

Modular homes are basically pre-fabricated house components built indoors or in a factory setting. The house itself is built into sections in which they are placed together to form into several structures. After constructing the modules, they are protected and transported to the home site. A pre-made foundation is also being constructed where the house components shall be installed and completed by a local builder. The following details below are some of the advantages and disadvantages of modular homes that you ought to know. Here they are:

Advantages

Affordability
The lower cost in constructing a modular house than constructing the usual way have made this type of houses to become more popular among people who have limited finances. The time frame for the construction is also greatly reduced so home owners can be saved up from paying huge amount of interest of their financial home loans.
Fast Construction
Since the house components are built section by section indoors, the construction is absolutely faster than usual. It’s simply because adversities in weather conditions are avoided which oftentimes hinder and lengthen the construction time frame. If a typical house takes about several months to construct, a modular home only takes about a few weeks right after home owner selected the house design.
High Quality Construction
Contrary to the misnomer that modular homes are not durable, they are actually built with the same building codes followed by most conventional site-builders. Home owners can actually hire an independent inspector who will certify that the house was able to obtain the approved plans and all the provisions of the building code.
Wide Selection of House Designs and Styles
Just like building a typical house, the owner can coordinate with the company to choose the desired design and style of the modular house. There are other companies that provide customized house designs for modular homes which allow home owners to indicate the desired look for their house.

Disadvantages

Necessity of Land Ownership
The major difference between constructing a typical home and a modular home is the land where the house is to be established. The land owner must already own the land before he or she is allowed to purchase a modular home. Many home owners allocate budget for the construction of the home alone and easily disregard or neglect the cost of the land which must be included in the investment.
Acceptance
As mentioned earlier, one of the misnomers about modular homes is that they are considered as some sort of sub-standard homes. People thought that this type of homes is not durable and sustainable enough so it will certainly be harder for the home-owner to sell the house. Because of this false notion, the value of modular homes might not be as high as it is expected to be. Despite the fact that many banks can lend home buyers some money in the same way they would for the usual built house, the home buyers just may think that the house is not worth the expense.
Upfront Financing
Purchasing a modular home needs full payment of the materials and the services. In other words, the budget is often fixed and non-flexible. This is so much different compared to purchasing a usual house in which the budget is flexible while the construction is in progress.

Those are the advantages and disadvantages of modular homes. Although it has a few disadvantages, it is indeed a more practical way to build a home which is considered as one of the basic commodities in life.

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