SGI Realty One Real Estate Blog

People who do not own a home now have several options on where they want to live. The most obvious reason why these people do not own a home yet is because they cannot afford to buy one. In addition, there are some people who are just settling in after a big move and buying a home is not a good decision yet. Many people opt to rent a home or a condominium unit. Recently though, there is another option for people to build a home for them to use. Through the more reasonable modular home prices, owning a home has never been so easier.

But what are modular homes? How long will building these homes take? Or will they be financed by a bank? These are the common questions which many ask about these types of homes. To answer the first question, a modular home is a sectional prefabricated home which has multiple sections. They are being built in a remote factory before they are delivered to the lot where the house will be placed. The reason why these homes are being built in a factory is so the production of these homes could refrain from getting affected by the many harsh weather conditions that could affect the whole process. In addition, each section of the house passes through a strict quality control examination of the factory which makes sure they are up to the standard after every step. Once they do, the finished sections are then covered and transported to the site. It is then the task of a local builder to adjoin these sections based on the pre-made foundation of the home.

Compared to building a home from scratch, this home can be accomplished much faster. This is because the modular home is already equipped with factory made sections that only need to be adjoined by the contractor. Although the length of time the house is made will depend on the design of the house and the capabilities of the manufacturer. Normally, the production of these homes can take 1-2 weeks in the factory. The reason why this is fast is because there is the benefit of no disruption due to harsh weather. It will take another 2-4 weeks for the home to be built by the local builder after it is delivered to the site.

The good thing about investing in a home is that they are sometimes more affordable than having a real home built from scratch. Aside from this, these homes have a lot of money-saving benefits. Since these homes have been built in the factory, it is a cheaper and more cost-effective option. They are also energy-efficient which can help reducing future costs on heating and cooling.

In a comparison between modular and manufactured homes the differences are clearly amplified, and the benefits of owning a modular home clarified too. When comparing them, the potential home owner must think in terms of the long run. Its true manufactured housing does have short term benefits, but over the long haul it might be wise to invest a little more money into a modular home. Take a glance at a few important comparisons below.

• Modular Homes – Appreciate in value, manufactured homes depreciate.
• Modular Homes – Set on a permanent home foundation, manufactured homes set on a block pier making financing harder if not impossible to obtain.
• Modular Homes – Meet state and local building requirements and are inspected, manufactured homes don’t, and structural reliability can be faulty.
• Modular Homes – Meet federal, state and local regulations, while manufactured housing must meet only HUD (Housing and Urban Development) requirements.
• Modular Homes- Are accepted into most communities of stick built homes, but restrictive covenants exist on where a manufactured house may be placed.
• Modular Homes – Are in comparison just as energy saving in heating and cooling as any stick built home.

Other benefits of modular housing are that many contractor groups specialize in not only assembly of the home, but also in the other facets associated with home site development. For example, larger firms can help you finance your new home. Also, site excavation, site preparation and the installation of the foundations for the home and garage can easily be done. Not only will this eliminate any unnecessary headaches for you, in the end it will save your hard earned dollars. Modular homes are fast becoming the housing choice for the future, but whatever housing option you choose make sure it’s a decision you can live with.

Investing in a modular home is a really good investment. For people who have inadequate funds, bank financing is a possible option. This is because most banks, insurance companies and appraisers consider a modular home the same with traditional houses. Since they both are being built in one's property, they are both available for bank financing.