Modular homes are gaining popularity nowadays and offer nothing less than a traditional house; if not more! They are extremely affordable and quick to manufacture. It can cost as much as 30% less than building a traditional house and are more flexible in their design. They can be extremely environmentally friendly since there is less waste in a factory setting. Moreover, they are mostly manufactured using recycled material and if you decide to move, you take it with you instead of building a new one! They are extremely durable too, since in the factory, they were made in a controlled environment that neutralize the effects of sun damage, dust, rust, mildew, mold; you name it!
Modular homes aren’t small either! They can incorporate a beautiful garden, a front patio or lawn, a giant two door garage, a backyard, a huge bathroom and as many bedrooms as you want! We have come to a point in time when we can custom made our house to our specifications! However, there are a few pitfalls you should absolutely avoid at all costs!
Why being a CPA will prevent being scammed
- Overpricing your home: Builders, brokers or agents; no matter who they are, everyone wants to make a profit. The best way to do so is to overprice your modular home when it’s worth much less. In this case a good certified public accountant (CPA) will be able to tell you if you are cheated out of your money. If you are on the selling end or you just want to build your own home, it is absolutely imperative to consult a CPA so you don’t underprice or overprice your house.
- Forgetting about taxes: There is no alternative to paying your taxes. It gets even harder when a significant percentage is cut from your loan which you needed to pay for your dream home. This tax amount must be included in the price tag of your home. It is not just a simple addition but requires accounting skills so you get it right!
- Having no plan: You need to have a financial plan so you don’t go over budget. In order to make a thorough financial plan that doesn’t have any hidden pitfalls and one that involves a good backup plan, requires an accountant. There isn’t an alternative to a CPA.
Hiring a CPA can be very expensive since they are highly elite professionals. So why not be one yourself? It is not a degree that requires a 4 year college education or a 2 years Master’s. In fact, you can find the best CPA review course online! It is not even as expensive as a university degree!
With a CPA license you will be able to build your home the way you want to. You’ll be able stretch a small amount of loan to make big improvements to your house! Being a CPA is absolutely crucial for any business; even modular homes! Furthermore, CPAs are extremely rare and highly demanded in any industry. That is why their salaries can easily range between $80,000 and $110,000! You can check out more benefits in this link https://www.nasba.org/licensure/gettingacpalicense/whygetlicensed/five-popular-reasons-for-earning-a-cpa-license/
So consider the benefits of a CPA license before building your next Modular home.