Manufactured Homes
Pros
- Less Expensive
Compared to modular and stick-built homes, manufactured houses are quite inexpensive because you can have the house set on land that you leased or rented. This is an excellent choice for those homeowners that want to save money building their dream home. A manufactured home will also save you money in that you do not have to pay property taxes. In addition, you only need to pay a small down payment for the house since it will not be very huge.
Cons
- Limited Footage
One downside of manufactured homes is that they can be quite small, offering you limited square footage to work with. Due to this, these houses are not ideal for large families.
- Diminishing Returns
Another disadvantage is that the value of a manufactured home reduces with time. Unlike a traditional house, you will not enjoy a return on investment or financial longevity with time.
From these details, it can be concluded that a manufactured house is a good housing option but lacks the financial return of other houses that you can build.
Traditional Homes
Also referred to as stick-built houses, traditional houses are the normal homes you already know. Here, a homeowner buys land then hires a contractor to build the house. The entire building is done on site and the structure is permanently fixed to the land.
Pros
- More Durable and Versatile
Traditional houses give you many customization options. You can have the house designed in any way you want and fitted with your desired fittings. The options are endless. Since the house is built according to your specifications, you can be sure that it will be of high quality. This translates to durability, ensuring your house lasts long without the need of doing too many repairs.
- You Make Most Decisions
A great benefit of traditional homes is that you make most decisions. You are part of the planning process and can dictate things you need to have in the house and your contractor will ensure that is done. You can watch as the construction is going on and ask for necessary adjustments.
- Good Return on Investment
When you decide to build a traditional home, you can be sure that you have made a solid investment. The house will reward you financially over time because the value of the house should appreciate. If you are not even planning to sell the home, later on, you can be sure that your family is living in a great home.
Cons
- Expensive
The only downside with traditional homes is that they can be quite expensive to build. They need a lot of investment in terms of money and time.
Modular Homes
Modular homes are built in home building facilities in different pieces. The different pieces of the house are assembled together on site.
Pros
- Fast to Build
Modular houses are quite easy to build because the pieces will already be ready. The remaining task will be to assemble them together. This also means that modular homes come at lower prices compared to other types of houses in the market.
Cons
- Durability Issues
One major downside of modular homes is the quality. If you do not get yourself a good builder, you will get a poorly built home.
This article has explained the three most common types of homes you can build – manufactured, traditional, and modular houses. Since these houses have their own pros and cons, the decision you make will depend on your specific preferences. However, nothing can replace the durability and reliability of traditional homes but due to budget constraints and other factors, you might want to go for either manufactured or modular homes.
