Buying a house costs an insane amount of money. It’s amazing how many people manage to do it.
The median home price is $200,000, so if you have to pony up 20% as a down payment, that’s about $40,000 in cash you need to pay up front.
Considering that 25% of adults have no savings at all, and the average bank balance is $7,000, it's pretty impressive how many people find a way into home ownership. But on the flip side, many are left out in the cold as a result of the financial barrier to entry.
By purchasing a modular home instead of a site-built home, you’ll get a new home sooner and much cheaper than you would otherwise. However, there are a few pros and cons you should consider before you decide whether modular is the way for you to go:
The advantages of prefabricated houses
Lower cost: Using conventional site-built construction methods will tend to cost you between $150 to $250 per square foot if you’re building a standard, non-luxury home. Modular construction, on the other hand, may cost a fraction of that thanks to assembly line efficiency.
Quicker build: The efficiency mentioned above also allows you to cut down on building time, because much of the assembly you’d have to do is already done. Many modular buildings can take just a day to assemble.
Portability: While modular buildings are generally built to be permanent structures, some designs can be disassembled, so you can pick up and leave anytime you desire.
The disadvantages of prefabricated houses
You can’t customize as much: If you’re big into custom homes, modular probably isn’t for you. While you have some customization options with modular buildings, most designs have limits on how much you can alter their shape or look.
You need to be near the factory: Modules are absolutely massive, since they are literally assembled parts of a house. As a result, the cost of transporting such large objects outside 500 miles becomes prohibitive, so you’ll need to be relatively near the factory that produces them.
Zoning is an obstacle: Zoning gets a little weird when it comes to modular structures. Modular buildings are relatively new to the construction industry, and local zoning boards are still catching up. You may run into some outdated zoning rules that may be a drain on the project or even block you from building altogether.
But first, we need to figure out how much it’s going to cost you based on your unique situation. For more information, click here:expandable container house.