What is a modular home?

 

Modular homes are built in a factory, as opposed to the traditional method of building a home on site. A foundation is prepared ahead of time at the land site and the pre-finished home is transported (in whole or in pieces) and then placed onto the foundation.

How long does it take to build a modular home?

Most modular homes can be manufactured in just a few weeks depending on their specifications. A modular home is built according to the size of the lot and must meet regulations in your city.

Are they expensive?

Modular homes are just like any other home - the cost will vary depending on the cost per square foot. There are certain savings that you can expect from modular homes that are built with specific energy efficient upgrades, which will lower heating and cooling costs. However, don’t expect to “save a bundle” just because you have chosen a modular home.

What are the advantages to buying a modular home?

One significant advantage to buying a modular home is the time saved on construction. These homes are built in just a few short weeks. Since they are built in a controlled environment inside and not outside, there will be no adverse weather delays either. Furthermore, the manufacturer will also review quality standards during the manufacturing process to ensure certain pre-arranged guarantees.

Are modular homes eligible for financing or loans?

Most definitely. Modular homes are treated by lending institutions the same as a traditionally built home and qualify for the same mortgage rates.

What’s the difference between a modular home and a mobile home?

Well, the first difference is that a mobile home is, well,…mobile. A modular home, once placed on its foundation is not mobile. However, it is possible to later remove it from the foundation and moved to a new site.