3 Things You Should Know About Modular Homes

If you’re looking for a house or planning to move in a new home, chances are you’ve already heard about modular homes. Also sometimes known as prefab, this type of house is the one that is assembled indoors – in a factory-like setting – so it can be protected from adverse weather conditions. Then once built, the modular home will be transported to your home site, where it is installed on permanent foundations. Modular homes offer a lot of benefits, but do take note that this type of home is not for everyone. If you’re considering a modular home, here are three things that you should know first:

They are faster to build than regular homes.

Unlike regular homes or on-site buildings, which can take months or even years to complete, modular homes reduce the construction time by more than 35 percent. Depending on the complexity of your home, it can only take about three to four months to construct your modular home and have it installed in your home site permanently. In fact, there are some modular homes that only take a week or two to assemble. The reason why they are much faster to construct is because these houses are constructed in a factory-like setting, where weather won’t delay the process. And of course, the quicker your home is built, the more affordable it becomes and the sooner you can enjoy it.

You’ll pay more than the base price.

Modular homes are definitely more affordable compared to standard site-built homes, but there’s something about the cost that you should know. When you ask about the price of modular homes, most companies will tell you that they can build you a home for as low as $35 per square foot, which can save you 40-60 percent if you choose it over a regular house. But there are half-truths in that claim. When a company gives you a quote, for instance, a $35 cost per square foot, that company might just giving you the base price of the house. The base price of a modular home typically only includes the construction, transportation, and installation of the module. You’ll need to pay extra if you plan to install hardwood floors, a garden, and/or utility systems. Discuss the price carefully, so you’ll know what to expect when considering this type of property. And if in case you find it hard to manage your finances, consider hiring an accountant or bookkeeper Melbourne, to keep your finances in order.

Modular

You’ll need to have more patience when you plan to resell it.

Despite the increasing popularity of modular homes, lots of people are still afraid to buy such type of property. When people hear about modular homes, many people think about “mobile”, which is something that is not placed in a permanent location. And since they are built in a factory, they think that modular homes are not as sturdy as regular dwellings, and they can’t be remodeled the way they want. If you think about buying a modular home and consider reselling it after a few years, you should have a great patience to explain to your buyers about the benefits of having such type of property.

SMSF Investments in Modular Homes

For those seeking for more control over their superannuation funds, SMSF is the solution for them, as it allows one to invest their funds however they wish to, and this ensures that they have enough funds saved up for their retirement. Not only will this ensure a safe and secure future for them in the future, but this also gives them the freedom over their funds just as they wished for it. And since they can invest wherever they wish to, they can choose to spend their self-managed superannuation funds on modular homes, which are currently a popular choice for investment.

Modular homes vs. regular homes

Unlike a regular home, which is built by a group of construction workers who spend weeks and months toiling over a blueprint until the house is complete, a modular home is built at a factory, or rather, the majority of its construction is completed at the factory. The only real task that is completed on site in case of a modular home, is the assembly.

Many people consider modular homes to be weak in comparison to regular homes, which are built to be sturdy, despite the fact that they are time consuming to make. It is because of this misconception that many people decide not to buy modular homes, which is what causes its price to go down. This is exactly the opportunity that you as an SMSF holder should take advantage of. There are vast opportunities in this field, and since it is still fairly new, you should take advantage of it.

SMSF Investments

Why you should invest in modular homes

Not only would investing in these homes be quick, but they would also bring in quick profits. These homes can take as less as a month to be fully built, and since the construction costs are much more affordable than the costs of a regular home, you can easily increase the price of your house to cost much more than it cost you to build it. As you can see, investing your SMSF in this will be quite profitable for you in the long run, as it is sure to bring in a lot of profits over time.

In addition to the house, the location also matters. Ensure that it is built in a desirable location, and that would easily increase the prices a lot more. You can either choose to rent it or sell it off. No matter what you choose, though, you will be sure to make a profit, as modular homes, just like regular houses, tend to increase in value over time. It is a common myth that their prices depreciate over time, because they’re no different than regular homes.

The most important thing is the maintenance and the location of the houses, which, just like regular homes, will affect the price of the modular home. Modular homes are smart investments, and they are also considered to be an investor’s dream come true. For more information on why you should invest in modular homes, visit http://plantingmoneyseeds.com/modular-homes-investors-dream-come-true/

 

How to Start Your Own Modular Home Business

Modular Home BusinessWith more and more people looking for affordable and quick-to-build homes, the modular home or prefabricated business has become a fast growing industry. Modular homes look like any other homes; however, they are constructed in a different approach. Unlike regular homes which are built directly on the home site, modular homes are constructed in a factory-like setting, then relocated at the desired location. If you’re looking for a cool and unique business that has a potential to provide you good income, then this business can be an attractive option. Here are the steps to help you get started:

Step 1: Create a business plan. Whatever kind of business you would want to build, it’s very important that you start with a business plan. This will give you a general idea of what your business truly is and prepare you on how you’re going to achieve its goals. Well, there’s no need for you to write a hundred-page document to have a high-quality business plan. According to Entrepreneur Magazine, a typical business plan runs 15-20 pages. But it can be any length; the most important thing is that your business plan includes every detail that is necessary to make your business work, such as the description of your business, your plans and goals, your marketing strategies, sources of raw materials, and financial information.

Step 2: Study your market and assess your competitors. Before you start gathering any raw materials, it’s crucial that you first study the market that you’re planning to pursue. Determine if there’s a sufficient demand for prefab homes in your area. If not, identify how you’re going to entice homeowners to get this type of house. It’s also an excellent idea to determine the competition in the market that you’re considering. If it’s too tough, you may want to try building your business in other area, where there is less competition, or start a completely different business instead.

Step 3: Find different sources for getting the materials you need. If you think that there’s a chance for you to succeed in the market, then start finding sources to get the materials and machines you need for your business. Talk to somebody who is already in the industry and ask for recommendations. You can also do online research to get more options. Before you make any commitment, though, research first about the reputation of the supplier you’re considering. It’s also great to check on different suppliers, so you can compare prices and quality of their products.

Step 4: Register you business. Just like in any other business, you can’t start your operation without proper license and permits. So gather all the necessary documents you need, such as clearance from port authorities, tax documents, and business permits.

Step 5: Hire your staff. Of course, for you to be able to construct a modular home, you need contractors, subcontractors and other staff. Hire the sufficient number of contractors you need. Since you’re just starting out, it’s fine to get a few contractors at first. But once your business thrives, you should consider hiring more staff to complete your projects easier and faster. You should also hire other workers, such as HR managers, billing staff, and customer service staff to help you run your business more efficiently. If you don’t have enough funds yet or you think it’s too much for you to handle everything, you can consider outsourcing some of the areas of your business, such as billing and payroll. But if you consider this, make sure that you hire the service of a trusted and qualified payroll outsourcing company.