There are many important things, which you need to consider while buying modular homes. These homes look much like site-built homes and not like the trailer homes, as these homes are set on permanent foundations and are never moved after the initial setup. In addition, these homes will not have wheels attached to them like trailer homes.
Research before Buying Land
Ensure that the plot of land that you are planning to buy allows for modular home construction. Some of the residential neighborhoods do not allow for modular housing on some zoning and other land laws.
Before buying the plot to set up the modular home, it is necessary to make sure that you are allowed to install your home in the community.
Land Home Package Deals
These deals are something you will be familiar with in the modular home market. These deals are offered by modern modular home manufacturers and include the building, installation, the land, and the inspection. This can be a convenient deal, but interest rates and maintenance fee are very high for these deals.
Note that in these deals, you will find yourself surrounded by other modular homes, and the resale value of your modular home will depend on the other homes around it.
Ensure that Sold Foundation is Present
Modular home manufacturers may offer you convenient land home packages, as discussed above, but you should bear in mind that the foundation of the home is not always part of the home package deal. Moreover, if your plan is to build the home on your own, it will be your responsibility to make the foundation.
Foundation of the modular home is very important, as mortgage lenders will not finance a modular home that is not set on a permanent foundation. Besides that, it will be difficult for you sell the modular home if it does not have permanent foundation.
Why Buy Modular
Most of us look at the value in buying a home instead of renting one, but many look down at a modular home as not a real home. Yet in reality, modern modular homes are like the traditional homes in their equity values. This is particularly true for modular homes with improvements like sunrooms, porches, fireplaces basement etc.
Aside from that, if you own the land, you can invest by adding a hot tub, swimming pool, fences, etc. In fact, the investment potential of modern modular homes rises with age if you take good care of the home.