A modular building is simply a prefabrication building that consists of multiple sections known as modules. Modularization involves assembling different sections from the main building site and then delivering them to the final location. Installation of the modular sections is normally done on-site. Modular homes are very popular in urban locations where an individual can easily move into the property without any major investment.
The concept of modular homes originated in Japan and Europe, where a series of modules were assembled according to their own base foundations. Steel girders would support each module. The rafters are typically built to provide the foundation for the modules and are also attached to steel columns. These are called foundation beams in the U.S. and other countries.
Advantage of Modular Home
The advantage of a modular home is that it can be quickly and easily constructed from scratch, either by purchasing or renting one and then moved into the final location without any delays or additional costs. A typical modular house is manufactured in a factory setting and then delivered directly to the purchaser’s address. The factory setting eliminates the costs associated with site development. Also, the modular manufactured homes are more environmentally friendly since there is no need to support a permanent foundation.
In general, the term “movable” refers to a structure that is able to be relocated. Mobile manufactured homes are not considered to be modular. The term “movable” does not necessarily mean that the manufactured products are meant to be moved. For example, a manufactured home can be made to order specifically to meet the needs of a particular customer.
There are several advantages associated with modular homes. The advantages include the fact that they have a higher resale value, are cost-effective, require a shorter construction period, are easy to maintain, and are easier to move than permanent homes. These pros often lead buyers to choose modular over traditional manufactured homes. In addition, because there are a variety of designs, prices, and features available, buyers can obtain the perfect home at a price that fits their budget. Also, because these products offer a high-quality finish, buyers can obtain high-quality building materials.
Modular home manufacturers typically work with lenders that specialize in lending programs for modular manufactured homes. Many of the lenders that offer to finance for these types of homes require upfront construction loan fees. Some of these companies will require up to 15% financing fees, and the buyer may find it difficult to obtain financing from some of these companies. Stott says that this is simply a matter of shopping around. There are a number of construction loan and financing companies that offer to finance for these types of homes.
Benefits of purchasing Modular Homes
One of the benefits of purchasing modular homes is that many of them have a lower cost of living compared to permanent manufactured homes. When it comes to living costs, Stott says, “you get what you pay for.” He notes that many of the lower-priced modular homes are on the construction site prepped for placement. While the modular manufacturer does the actual building process, the buyer will still be responsible for all required foundation and footings, plus wiring and plumbing. This is where many of these “offs-site” foundations come into play.
Most of the high-quality manufactured homes on the market come with full manufactured-home warranties. However, Stott cautions consumers from putting too much trust in these warranties when it comes to low-priced products. As a result, he recommends that consumers compare the cost of the modular homes’ manufacturer’s warranty with the unit’s total cost to determine if it is a good deal.