Modular Homes - Affordable Housing
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
Modular Homes: A Smart Choice for Affordable Living
Overview
With real estate prices continuing to rise, many Americans are exploring more affordable housing options, and modular homes are emerging as a popular choice.
What are Modular Homes?
Modular homes account for nearly 8% of new home sales in the U.S. In 2004 alone, around 43,000 modular homes were built. They are particularly prevalent in the Northeast, where they make up 10% of new home constructions, with North Carolina, Michigan, and New York being the hotspots for this trend.
Benefits of Modular Homes
These homes are constructed in sections within a factory setting, providing protection from harsh weather and vandalism. This controlled environment not only speeds up the construction process but also reduces costs significantly. Despite being factory-built, modular homes offer customization to meet various design preferences.
The Buying Process
Typically purchased through a modular builder, the process involves selecting floor plans and options, which are then reviewed by a state-approved third party to ensure they comply with local codes. Licensed inspection agencies monitor the construction in the factory, while a local builder prepares the foundation on the home site.
Construction and Installation
Once the sections are built, they are transported on flatbed trucks and assembled on-site using a crane. While the assembly can take as little as a day, finalizing the home may take a few more weeks. The entire process, from placing the order to moving in, takes about 90 days, much quicker than the six months to a year required for traditional homes.
Cost Savings
Opting for a modular home can save homeowners up to 25% compared to traditional builds, making it a financially savvy choice in today’s economy.
Overall, modular homes offer a blend of efficiency, affordability, and customization that makes them an attractive option for many homebuyers.
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