Modular Home Sales – Are They Worth The Money?
Modular homes are homes that are factory built, in pieces, away from the outside elements. The only time these homes see the outside weather is when they are being transported to their final destination. In the factory, these homes take approximately one or two weeks to build. Once they get to their final destination, they take another two to four weeks to be the final product.
In the past, a modular home used to be in the same category as a manufactured home or a mobile home. Today, the standards have changed. Modular homes are now on the same level as site built homes. The building codes are the same for both types of structures. The only difference is the way they are built.
Modular homes today can be built any way anyone wants. They can be single story, double story, any layout, the possibilities are endless. A modular home can have basements, a huge porch, decks, etc. If you were not told, most of the times you would not know a modular home from a site built home.
Each year about 40, 000 modular homes are built throughout the United States. The price per square foot is between $50 and $65, according to a national average. This price includes the home, transportation of the home, application and setting fees. This price does go up depending on variable factors. Where you live in the country, additional upgrades and amenities, the size of the land you want your home on, the tax rate in your area. Additional structures such as garages and porches not included in the original purchase price will also add to your home cost.
Financing for a modular home works the same way as a traditional site built home. Since these homes are on the same level, a mortgage is structured the same way.
Since a modular home is treated the same way as a site built home, resale values are on par with these homes. They are marketed the same way and sold the same way. Factors such a lot size, location, curb appeal, and amenities all play into the selling of a modular home.
Today, modular homes are very close if not equal to site built homes. Modular home sales are up and depending on where you live in the country, you might be in your new home faster due to weather conditions. If you were to purchase a modular home, fear not, they are right on par with traditional site built home and will last long and make wonderful investments.
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