Are Modular Homes A Good Investment?
Yes, modular homes are often a very good investment! Unlike mobile homes, which tend to depreciate with time, modular homes hold their value or even increase with time. In many cases, the resale value of modular homes will be higher than the initial purchase price. As a result, buying a modular house can be a smart way to get more bang out of your proverbial investment buck.
Do Modular Homes Depreciate?
Modular homes appreciate and depreciate similar to traditional builds.
How Long Do Modular Homes Last?
Modular homes can last just as long as a standard home assuming they are well-made. Most modular homes are made of the same high-quality materials you’ll find in new construction homes, so they can easily last for decades as long as they are well-maintained.
Modular Homes Now Have Higher Quality
Modular home manufacturing has recently improved and can often compete with the traditional stick-built home. Sometimes the quality can be better when compared to some stick builders.
Modular homes are built in a factory setting on an assembly line, which means the building process for all the pieces is under intense quality control.
On the other hand, a stick-built home is constructed from scratch on the land where it will sit.
Being in the real estate business for many years, I can tell you there have been times when a builder has not done an adequate job of keeping the lumber used in construction protected from the elements.
Problems can occur from this neglect, but you only learn about it years later.
Speed Of Construction With Modular Homes
These homes can go up quickly, often faster than a traditional stick-built home. Considering all the areas where delays are possible when building a standard home, it is easy to see why this is the case.
The materials for a stick-built home may be sourced from all over the country, and each different supplier must get the materials to the builder on time.
There are many opportunities to go wrong just in the transportation process. A modular home is one of many other homes being built by the manufacturer, which means that supplies are usually abundant to get the job done quickly.
Weather can also be an issue with a stick-built home. If it is raining, snowing, or dangerous outside, such as thunderstorms, builders will have to stop until the weather improves.
A modular home is constructed chiefly indoors, where the weather is not an issue.
If you have any time constraints in transitioning from your existing home to a new place, a modular home could be something to consider just for the savings in time.