The idea of a modular home sounds too good to be true. These homes can be shipped completely prefabricated and made at any location in the world – so it’s not even like you have to worry about where you live now when your new house is built. But they are expensive, require fast internet access, and aren’t out yet on the market. Here’s why choosing a pre-built or custom home might actually work for you:

The “common problems with modular homes” is a common problem that can arise. Here are 10 reasons why you may not want to build a modular home.

Are you looking for a house that is ready to move into right away? Although a modular house could be the best option, there are several reasons to be wary.

By the way, it’s simple to mix up prefabricated houses with modular homes. The components of a modular house are built in a factory and assembled on a permanent foundation; the dwellings must follow all construction requirements.

Manufactured houses (known as mobile homes before to 1976) are moved to the homesite by being fastened to a chassis with wheels. They are constructed to the specifications set by the Department of Housing and Urban Development.

OK. So you want to construct a modular home? Before buying a prefabricated home, continue reading.

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How Are Modular Houses Built?

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Kit houses are built differently from regular homes, which is one of the greatest distinctions. Modular houses are made up of modules that are put together in a factory and transported in one or more trips to the building site.

The regulated setting of manufacturing modular house components in a factory has advantages. Customers can often anticipate a consistent, high-quality construction since the pieces are put together under optimal circumstances (appropriate temperature, humidity, etc.).

Modular houses may provide excellence, but they may also have drawbacks. Here are 10 issues that modular houses often have.

Source of the image: DepositPhotos.com.

1. Initial Investment

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The foundation pouring process is a drawback of modular dwellings. Even though the majority of the building is put together off-site, owners of modular homes still need to build a foundation on the land. The typical cost of constructing a foundation ranges from $5,000 to over $20,000.

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2. Full payment could be required

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Financing is one issue with prefabricated homes. Similar to financing mobile homes, there are fewer financial choices for financing modular houses when a home hasn’t yet been built.

The majority of purchasers of modular homes will need a new-construction financing, which may need strong credit or may be hard to get for FHA or VA construction loans. A modular house buyer could not be eligible for first-time home buyer or other loan aid due to such difficulties.

In such instance, the buyer could be required to make a complete payment for the house. Even while the typical modular house may cost at least 15% less than its identical stick-built equivalent, if purchased in full, the price tag may be exorbitant.

Source of the image: DepositPhotos.com.

3. Quality is Hard to Guarantee

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The lack of quality control in modular houses might be one of its risks. Despite being built in a perfect industrial environment, the house might nevertheless sustain damage while being transported.

Similar to how it’s created off-site, customers aren’t able to monitor the construction, which means errors could not be discovered until assembly.

Source of the image: DepositPhotos.com.

4. Added Costs

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The idea of purchasing a prefabricated house seems alluring, but the cost might be deceiving. The higher expenses connected with prefabricated homes are one of its issues. In addition to paying for the house, buyers also:

  • Land
  • foundation construction
  • ductwork, plumbing, and electrical
  • Transportation

These figures may be difficult to forecast, but they can come at an additional expense over the modular home’s purchase price.

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5. Modifications Are Hard to Make

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Although purchasing a house from a catalog may seem thrilling, one drawback of modular homes is their uniform appearance. The buyer may not be able to choose special finishes or make other adjustments, depending on the builder. Creativity isn’t given much room in modular dwellings.

Image courtesy of Getty and DragonImages.

Issues with Customization

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Although purchasers may have a variety of floor layouts to choose from, a drawback of modular houses is that they can never be completely customized. A screened porch or an attic bedroom may not be an option when building a modular house for a customer.

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7. Costly to Financing

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Customers who want to finance their purchase of a modular house have few alternatives, as previously mentioned.

They may be able to finance the land similarly to financing a little home.

Construction loans could be more difficult for certain purchasers to qualify for, and the conditions might not be as good as those of a conventional mortgage.

Source of the image: DepositPhotos.com.

8. Locating a Site

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Land constraints are one of the drawbacks of modular dwellings. Naturally, the price of a block of land varies depending on where it is bought. Furthermore, not all parcels have zoning that allows for modular dwellings. Finding the ideal land may need a thorough search.

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9. Prejudice Toward Modular Homes

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Although there may be a lot of interest in modular house construction, bias is a risk. Even though contemporary modular houses are often indistinguishable from conventional residences, some individuals have negative opinions about them. This may result in difficulties obtaining construction permits in a targeted community or a general misunderstanding of the house.

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10. Selling issues again

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The potential difficulty with resale is perhaps the largest drawback of modular dwellings. Even if it’s a high-end construction, real estate brokers and potential purchasers can have biases against modular houses, which might result in a lower resale value than a conventional home with a comparable build.

Feverpitched/Istockphoto is the source of the image.

What to Consider Before Purchasing a Modular Home

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Here are some things to think about if you’re determined to purchase a modular home:

  • Home design. Modern to log cabin, modular houses come in a variety of architectural designs. Working with a modular house maker who meets their preferences may be crucial to consumers.
  • where the manufacturer is. Transporting a modular house might be expensive. Working with a manufacturer near to the intended location of the house may be crucial for the modular home buyer who is on a tight budget.
  • built to order. Some makers of modular homes could provide more flexible choices, such as floorplans and finishes.
  • Timeline. Some manufacturers of modular houses may have a month-long backorder, while others may build them quite rapidly.

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FAQ

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Do modular dwellings pose a risk?

 

Modular dwellings provide very minor risks. Modular houses are just as safe as conventionally constructed homes, provided that the assembly conforms with local building requirements.

Does the price of modular houses go down?

 

Similar to conventional construction, modular houses appreciate and depreciate.

Where can modular house finance be found?

 

A construction loan, home equity loan or line of credit, a cash-out refinance, and a personal loan are among options available from different lenders.

What is the lifespan of a modular home?

 

A modular house should last for the same amount of time as, if not longer than, any conventionally constructed home with adequate upkeep and high-quality components. Early 1900s construction still leaves some of the original modular houses intact today.

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This article originally appeared on SoFi.com and was syndicated by MediaFeed.org.

 

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