While modular homes are not traditionally constructed on a site, they do have several advantages. A modular home is built in a factory and is generally built using energy-efficient materials. If you are considering buying a modular home, you will still have to purchase land and install utilities such as sewer and water hookups before the home can be delivered to you. It is also important to research the manufacturer to make sure that they are reputable and can provide a construction loan. However, the construction loans are only good for a year, so you will need to convert them into a longer-term mortgage after you have finished the modular home construction.
When it comes to resale, modular homes tend to sell for less than traditional homes. While this perception is true in many cases, the actual sale price will depend on many factors, including location, preparation, and marketing. While modular homes are built to federal and state building codes, resale is not always so easy. However, some people can easily get a good deal on a modular home and enjoy the appreciation of its value.
A modular home is typically constructed in a factory, although they do have a foundation that you can assemble yourself. However, modular homes can be more expensive to build because you will need land. Land costs vary greatly and are likely to surprise you if you aren’t well-prepared. Another consideration is the cost of installing a septic system. This cost can vary tens of thousands of dollars.