Hidden Gem: Things To Consider When Buying a Modular Home
Are you in the market for a new house? A modular home may be the answer for you. Learn some important factors to consider about this type of housing.
Rising real estate prices in Arizona may challenge those looking for their first home. However, affordable options are available if you know where to look. The answer may lie in a prefabricated house largely designed in a factory. Let’s look at some things to consider when buying a modular home.
Is a Modular Home the Same as a Mobile Home?
In the early days, people used the word mobile home to describe a modular home. You could move this type of housing by hooking it up to another vehicle. However, that didn’t make moving them the best idea.
The HUD implemented more building regulations to uphold safety standards in 1976. For the most part, a modular home is only moved when it is taken from the factory to its foundation, which becomes the spot where it’s fully assembled and meant to stay.
While moving a modular home is still possible, it’s expensive. Some people may still refer to these houses as mobile homes, but they don’t have wheels. Unlike an RV, they generally reside in one place.
One thing to consider when buying a modular home is how much you feel comfortable spending. Different price points work depending on a family’s income. Conventional homes designed on-site often cost more than housing assembled in a factory.
The price point makes a modular home a great option for first-time homeowners on a budget. You can expect to save up to 20 percent of what you’d pay for a house built on-site.
Just like when you’re choosing to design a stick-built home, you have the option to make the prefabricated home your own. For example, there are many advantages to having an open floor plan in a modular home. This design choice gives you more freedom to switch things up, allowing you to find the perfect flow in your living space.
Maximizing Your Investment
A modular home’s lower entry point allows you to make the most of your investment. If you are under your budget, consider adding home upgrades that increase the property value. Even if you are not, the lower entry point to this type of housing makes saving easier, paving the way for improvements down the line.
Modular homes are a wonderful option for people who are looking to save. You have the chance to customize it and increase the overall value. Modular homes also offer the same quality as stick-built homes, making homeownership possible for many people. Why wouldn’t you choose this hidden gem?