Time Is Money
There are all types of factors to consider when it comes to investments, from project management to timeline and cost. Traditionally, a stick-built home takes as long as eighteen months.
One of the biggest advantages when it comes to modular home construction is a fast turnaround time. For investors, it means a similar profit, but in half of the time. You could potentially double the number of projects that you complete in the space of a year and increase your returns massively. Of course, this is if you are simply looking for straight investments.
You might be a homeowner who is simply curious about return on investment and resale value. To you I’d say, there’s good news. You can purchase a home, enjoy all of the benefits, and rest easy knowing that when it comes time to move on, you won’t have any worries. Modular homes appreciate just as stick-built homes do. Provided you are building on a permanent foundation, you can expect your house to fall in-line with the rest of the homes in your neighborhood. The only time they don’t enjoy this benefit is if there is no permanent foundation. While many manufacturers offer finance options, banks also do. That highlights how modular homes are viewed overall which is, as noted earlier, the same as a stick-built home.
While many people view modular homes as less than stick-built homes, the reality is they are far more sophisticated. There are hundreds of options to choose from in terms of design, and you don’t lose flexibility by choosing to opt for a modular home. In the design process, you can customize every aspect from the flooring, layout, specifications, and even how many outlets are in the home. Once the modules have been built, delivered, and installed, no one will know the difference between it and a stick-built home. So, they don’t look different at all… where does the quality come into play?
Modular homes are built in a factory setting. The materials aren’t exposed to harsh weather, there are no shortcuts, there are no snags in the process. It is an assembly line made up of specialized workers who focus on one technique to ensure the process is as fast as it is as efficient.
There are far fewer issues involved in the modular home process because the manufacturer is dealing with each phase and coordination, rather than different people dealing with different parts.
You might not think about it too deeply, but a traditional housing development impacts its immediate surroundings. For the neighbors, there is noise, dust, waste, and all sorts of undesirable side effects that come with new builds. While it doesn’t impact you directly, it’s nice to know your investment project isn’t impacting your community negatively.
Often, homeowners have to make repairs or rebuild to ensure their property is in tiptop condition. Whether it’s due to mother nature damaging the structure or a mold or pest issue. Modular homes rely on environmentally friendly materials. Additionally, modular homes are known to be highly durable, with Hurricane Hugo and Andrew both decimating large areas of North Caroline, Louisiana, Florida, and the Bahamas. Yet, many modular home communities and freestanding buildings were still standing. Quick fixes are more sustainable.
It’s also worth mentioning that in the customization process you can opt for eco-friendly products and designs.
Just as with any property investment, there are risks. However, a modular home is just as likely to appreciate in value as any stick-built home.