When you aren’t able to find a home for yourself, you might consider building one on your own. If this is the case, you’ll have to choose between going with a stick-built home or a modular home. A stick-built home quite literally means that your home will be built the traditional way.
There will be a crew of workers always on the site who will make sure everything goes right. These people will fit the electrical wiring and plumbing facilities into your home. When the whole process is complete – you can move into your home and start enjoying the benefits that come with owning your own place.
However, another popular option amongst aspiring homeowners is a modular home that is built-in individual parts. While it may sound odd, there are several advantages of building your house the prefab way, but there are also some cons. To help make the decision easier for you – we’re listing the good and the ugly of the modular home built.
Let’s begin with the good news.
The pros of modular homes
Energy Conservation
Another great advantage of all modular homes is the speed at which you can build them. Since every part of a modular home is built separately in a factory, all you’ll have to is assemble all of them together and ensure they don’t move from their spot. Once you’re done assembling the home – you’re all set to move in!
Modular home are ready for use, construction workers spend a lot lesser time working on them, and this also means you don’t have to worry about weather delays since the process won’t take too long.
Fast Construction
When you buy an existing home, you’re going to have to make a down payment of 20% and you can then pay off what you’re left with in the mortgage. Additionally, you’ll have to pay for the full construction of your house before you can finally move in. But this isn’t exactly just a con.
When you pay more money upfront, you can also save on the interest cost since you’ll get a lower rate – so this clause is not that bad.
Affordability
Building a modular home can be less expensive than building a stick-built home, and one of the many reasons people save money on these builds is because of the lesser requirement for labor. Since laborers have to work for lesser days and have a relatively simpler job, they won’t cost you a lot of money.
The cooling and heating factor we mentioned earlier also contributes to this factor since they can save you money, too. So before you consider buying a stick-built home in the market, consider the price of modular homes and look at the price you can get in this market.
Who knows? You might get a great deal without having to empty your wallet.
Speaking of emptying your wallet – it’s now time for some bad news.
The cons
Cost of Land
There’s no point in buying a puzzle if you don’t have a table to assemble it on. Likewise, you’re going to need a piece of land where you can create your home. Apart from the need to buy a piece of land, you’ll also have to make sure that you’re allowed to place a modular home on that piece of land. Check whether you can get electricity wiring, a water line, and a sewerage system connected to your home.
Securing all of these important details like soil testing and permits can be time-consuming and spell a lot more trouble if you aren’t experienced. However, there are some companies that can deal with all of these complexities for you and all you’ll have to do is move in.
An Increased Up-Front Payment
When you buy an existing home, you’re going to have to make a down payment of 20% and you can then pay off what you’re left with in the mortgage. Additionally, you’ll have to pay for the full construction of your house before you can finally move in. But this isn’t exactly just a con.
When you pay more money upfront, you can also save on the interest cost since you’ll get a lower rate – so this clause is not that bad.
The Bottom Line
The cost of your modular home always comes down to the money you’re willing to spend on the whole construction and how extravagant you want it to look. The control you have over the building process is what’s admirable, so make your choices wisely!
