With the real estate market driving down the cost of land significantly after the real estate crash of 2008, land has not been as expensive as it is today in some time. Those who are able to qualify for land purchase often run into problems when it comes to building on that land due to the cost of buying a house being right around the cost to build a new home. As a result, it is more cost effective to purchase an existing home and renovate it rather than buying land and having a house built traditionally. That is, unless you are planning to have a modular home built. Modular homes offer cost effective alternatives to traditional home building, and can help consumers in their quest to have their house built.
The first thing that needs to happen is that land must be purchased. It helps to take a look into the type of modular home you would like to build prior to purchasing land. If you go out and purchase land first, you may find yourself limited by the grade and landscape of your property, thus impacting the selection of homes you have to choose from. There are several different modular home house plans available, through countless modular home companies, so selecting your modular home plan is not an easy taks. You can have a colonial, cape cod, ranch or raised ranch, two-story or even a multi-family home built. Again, knowing what kind of a home you want to build is important before finalizing the acquisition of land.
Another factor to consider before purchasing land is the requirements for the town or city in which you plan to build your home. What are the setback requirements for your property? What are the surveys or tests that must be done prior to building? What kind of plans need to be submitted before acquiring a building permit? All of these questions need to be addressed before even purchasing land. No one wants to sign on the dotted line only to find out that the home they planned to build on their newly purchased land will not fit into the town requirements. Some towns even limit the percentage of lot you can use for a structure. All these factors will need to be addressed prior to setting up any plans for building.
When considering the submission of modular home plans for a build, modular home builders come in handy. All modular home builders also have standard modular home floorplans that they include in your package for your project. This is a major part of the construction process, and something that is all taken care of by the modular home builder. This is yet another positive aspect of choosing modular home building over traditional building styles.
On a cost savings basis, modular home building can cut your overall cost by roughly 15% to 30% depending on where you live. You are required to have your own foundation poured as well as your own utilities tied into the structure once complete. Aside from this, the building process for modular homes is much quicker and more cost effective than traditional home building. A very general way to compare the two building styles is by cost per square foot.
Typically, a consumer can expect to pay about $50-$80 per square foot for modular homes, as compared to roughly $80-150 for traditional home building. Another factor to consider into your cost is the location of the property you plan to build on in relation to the home builder. If you are quite a distance from the one of the modular home builder’s locations, you may have to factor in a significant cost for shipping the building to you. Regardless of the cost savings that is incurred, you will be satisfied by the short time that it takes to construct a modular home. Modular homes usually take half the time of traditional homes, with some even being ready to move in within 5 or 6 weeks.
Modular homes are an excellent option for consumers that are looking to purchase land and build a home to their own specifications. Using these companies can save you time and money in the long run, helping you get to your goal of building your own home. Take some time and look up reputable modular home companies today. Doing some research will really pay off in the end, and you will be in your own personalized home before you know it.
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