With tons of housing options available in the market, it is hard to decide which one is the right option for your family and you. A modular home is one such option. What is a modular home, one might ask? The meaning is in the word itself.
Modular construction is a process that involves the construction of a home offsite and transporting it in parts to the desired location, where it is then assembled. They contain basic amenities such as plumbing, electrical fittings, color choices, and much more. These houses involve quick construction and cost less than traditional housing options and provide an all-in-one housing solution. Sounds perfect, no?
Unfortunately, that’s not the case. While everything might seem okay when going for a modular home, some things decrease their popularity amongst homeowners worldwide. Today, we will share some reasons why modular homes struggle to gain mass appeal as a viable housing option.
- Low Resale Value
Resale value is one of the primary considerations people make when investing in real estate. Unfortunately, many people consider modular homes a bad investment because they are hard to resell. They eventually sell, but it takes time, and you will have to cut down drastically on your asking price.
However, a low resale value can benefit people looking for temporary accommodation such as man camp housing for less. Given that modular homes have almost all basic amenities installed and are a cheap investment, they are ideal for people who are frequently on the go.
- They Provide You With Fewer Customization Options
There are various ways in which you can build a modular home. However, unlike a traditional stick and frame home, you do not have the luxury to customize them into your dream home.’ Whether you want a lounge with lofts, a spacious bedroom, or an open floor plan, anything is achievable with a stick and frame home. Modular homes do not offer so much flexibility in terms of design. This is because modular home construction follows a standardized approach.
Nonetheless, customization options do exist. You can choose from different types of construction materials, colors, and finishing. However, functionality dominates design.
- Land Restrictions
Although most communities and municipalities encourage homeowners to build modular homes, some will not hand out permits at any cost. These restrictions may have come into existence due to the perception that modular homes are of low-quality and depreciate the overall market value of a part of town. Some people also view modular homes as eyesores because of their uniform and anesthetic appeal. In fact, there are many old modular homes still about that look like army barracks.
However, this is purely subjective. You would want to double-check that the land you purchase has no restrictions when constructing a modular home on it. Such restrictive documents are also known as restrictive covenants.
- Lack Of Trust In Companies
The quality of a modular home is the same as a stick and frame home in most cases. But, in the end, it depends on the construction company you are employing to construct it. People tend to be skeptical about companies that build modular homes and the quality they promise. The general perception is that low costs come with cheap quality.
However, this is not true. Modular homes are built with stringent specifications and pass through numerous quality assurance checks before being assembled on site. It is always advisable to do your bit of research before hiring a contractor to build a modular home. In fact, this holds true even for traditional construction, where there are far more variables to consider.
- Complicated To Finance
The financial plan involved with a modular home is worlds apart from your regular house mortgage plan. Banks usually lack awareness or are just reluctant to finance their construction. Additionally, most contractors require payments upfront. This takes away the liberty of constructing a traditional house at a slow and steady pace if investors have financial limitations, thus reducing their popularity.
Conclusion
Don’t get us wrong; we’re not saying modular homes are bad. They’re just less popular. Whether you want to go for a stick and frame house or a modular one, it all depends on your requirements and budget. However, it is crucial to do some in-depth research before you even consider buying one. Both of these housing options come with their own set of unique pros and cons. It is all bout which one has fewer cons and more pros. Who knows, you might be willing to completely throw the idea of moving into a modular home out of the window without even considering how it helps save yearly expenses and is eco-friendly. Do you know that? No? Now you do!
I’m a 20-something stay-at-home mother and wife. I have an amazing husband, a beautiful daughter, two loving dogs, and a lazy cat. I wouldn’t change my life for anything! I love to read, listen to music, cook and blog!
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