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.

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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.