Across the nation, high mortgage interest rates and rising rental fees are putting a damper on American homeownership. Building a home from scratch is one way to alleviate these problems. However, this comes with many other challenges, particularly regarding the time involved.
The good news is that modular housing offers a more affordable and quicker solution to these problems. Are you apprehensive about trying this unique route to homeownership?
This concise guide to buying a modular home will put your mind at ease.
What Is a Modular Home?
Modular homes are a type of prefabricated home comprising several large, three-dimensional pieces called modules. Manufacturers build most of these modules in a factory and then move them to the building site before assembling the dwelling.
High-quality modular homes comply with local and state building codes and are built on a permanent foundation, just like conventional buildings.
The Rise of Modular Housing
As home building costs soar in the wake of labor shortages, modular homes are becoming increasingly appealing to homebuyers looking for more affordable ways to build their dream homes.
These versatile, efficient homes are revolutionizing how homeowners conceptualize living spaces. They’re quickly becoming a trend in housing as homeowners discover the benefits of a more accessible and dynamic way to live.
Benefits of Buying a Modular Home
Despite the rise of modular homes, site-built construction remains the most popular choice among potential homeowners. However, the following benefits give modular homes the edge over traditional builds:
Cost and Time Efficiency
Building the components of a home inside a factory eliminates delays due to weather conditions. You can also commence with module construction and site preparation simultaneously to speed things up.
Overall, it’s around 50% cheaper to build a modular home. Thanks to the faster process for producing the modules, labor costs are lower than when building a conventional home, and the materials are more affordable.
Customization and Quality
Since they’re built piece by piece, modular homes offer a significant variety of customizations. Homeowners may also choose from many options for flooring, cabinetry, and countertops.
Manufacturers produce modular homes in strictly controlled conditions, allowing for better quality checks before the house arrives on site. High-quality materials and precise workmanship also ensure that modular homes can stand up exceptionally well to severe weather.
Understanding the Modular Home-Buying Process
After exploring the benefits of this housing, you might be wondering how to purchase a modular home. Similar to building a house from scratch, you’ll:
Research Your Options
The first step is deciding on the type and size of home you want and researching potential suppliers. Under South Carolina law, modular home manufacturers must have a license.
Transporting your modular home to the build site is a significant cost. So, try to source a reliable local manufacturer if you can.
Site Selection and Preparation
When you have an idea about how much land you need, take time to find a location that suits your needs. It’s better to choose a relatively level site with sparse vegetation.
Removing trees and leveling the land will only add to the cost of assembling your home.
Financial Considerations and Financing Options
Paying cash for your modular home is the easiest and quickest way to get going with your build. If you can’t pay cash, you can finance your home build. Here’s how it works:
Budget Planning for a Modular Home
The cost of the building is only one of the factors to consider when you buy a modular home. Additional expenses include land costs, permit fees, plumbing and electrical work, laying the foundation, and transporting the modules to the building site.
Most manufacturers require a deposit at the outset of the process. You must try to obtain financing for all these aspects, or you’ll have to pay them out of pocket.
Securing a Modular Home Loan
Most lenders offer financing options for modular homes. If you’re building a house from scratch, you can apply for a construction loan and convert this to a mortgage once the home is built.
The best modular home suppliers can assist you with financing on the spot. Securing land and arranging finance for your build usually takes six to nine weeks.
Preparing for Your Modular Home Purchase
Modular homes are a contemporary approach to customized spaces focusing on innovation and sustainability. Homeowners can choose from several customizable floorplans when buying a modular home.
Design Selection and Customization
View the options available from your chosen manufacturer and ask to see photographs or visit completed builds if possible. This can help you visualize which style might suit your needs best.
Depending on the company you choose to work with, you may be allowed to amend the original design slightly to create a unique layout. Most customizations will cost extra and take longer to prepare.
Legal and Zoning Considerations
An approved inspection agency must review, inspect, and approve all residential modular homes before submitting them to the Department of Labor, Licensing, and Regulation.
Once approved, local municipalities must apply the same permitting regulations to the modular home as they do for a site-built home.
The Construction and Installation Process
Depending on your design, it can take up to twelve weeks for the manufacturer to build your home in their factory. If you opt for a pre-set design, it can be ready within a few days.
From Manufacturing to Installation
Most modular homes only take three months to build once they arrive on site. Modular home builders usually have an onsite team to manage the construction of the building.
Research your responsibilities concerning hiring additional contractors for your modular home installation. This will vary depending on the company you buy your modular home from.
Inspections and Final Approvals
In South Carolina, all manufactured buildings undergo a round of inspections after they leave the factory floor.
A licensed and approved home inspector must review your foundations before you begin construction and conduct the same inspections that apply to a site-built house before moving in.
Ready to Embrace Modular Living? Connect with Brother’s Housing
Brothers Home Builders is your go-to modular home builder to call in South Carolina. We have over 20 years of experience in modular and manufactured housing.
When you partner with us, you’ll enjoy top-notch service from a team of professionals who take great pride in our customer service to ensure satisfaction for every client.
Taking the Next Steps with Brother’s Housing
Our sales and design team is eager to help you find your perfect home. Reach out to us today about buying a modular home in SC and taking your first steps toward a better way of living.
