As with any new home purchase, the first task is to define what you can afford. This saves a great deal of inconvenience later if you realize what is within your budget. In order to figure this out, meet with a mortgage broker or lender. This defines the pre-approval process. If you are serving as your own general contractor, be sure that the lender also offers “sweat equity” loans so that you can get the best deal. After evaluating your income, your credit, and your debt to income ratio, your lender will be able to give you an answer. Usually within 24 to 48 hours, you will know what your finances allow in terms of affordability. Additional information such as required escrow funds and down payment at closing is also provided most of the time.

Once you have been pre-approved, you will then figure out the exact costs of the project. For most people, it is recommended that they take their pre-approval figure and reduce it by 15 percent. This allows some built-in room for extra expenses along the way. Once you have selected your modular home style, design, and amenities, manufacturing costs will be secure. It will be your task with your builder to specify all the other costs that will be needed to finalize your closing costs form with your lender. These expenses will include excavation and landscaping costs, finishing work after the set, land lot costs, permitting expenses and several others. These are important to know at the beginning so you can hold your builder accountable.

When ready for closing document preparation, your lender will need engineered drawing plans for your modular home, the home’s order sheet with specifications, a complete list of costs from your builder, a legal description of your lot, two years of employment history, and two months of recent bank statements. In addition, the lender will order an appraisal and title search for the property to make sure the appraisal covers the financing and that no liens are attached to the property. These are all standard steps of the financing process.

Depending on your situation, you likely will have a construction loan during the construction period before the actual mortgage loan is closed at completion. A construction loan basically allows you to pay your builder, your subcontractors, the manufacturer, etc. along the way before the final home closing is performed. Did you know the driver upon delivery of your modular home expects payment for the delivered modules? It would be an issue if there were no means to pay him. As work is completed, each vendor will expect payment, and a construction loan makes this easy while the building process proceeds.

Overall, because costs are more secure with modular homes, there are usually less surprises at closing that might otherwise occur with site-built home construction. Likewise, since modular homes are a better investment overall, the chance an appraisal will come in less than the amount financed is also uncommon. Modular homes actually give you the best ability to stay within your budget.

Modular buildings are sectional prefabricated buildings consisting of multiple sections or modules which are factory built. They are manufactured in a factory, which is at a remote place and later shipped to the intended building site. These modules are assembled into a single building with the help of a crane or a truck. The basic material used in constructing single units is steel; however, the buildings are also made up of concrete, bricks and mortar. Modular building is the new trend building used in building construction.

The construction of modular buildings is simpler than the construction of other conventional buildings as no foundation is required. In the construction of modular buildings, the builder first visits the site and supervises the plot where the building has to be erected. Then, with the help of expert architects, floor plans are drawn. The builder then fragments the plan into separate components and each component is constructed individually in the factory.

The modular components are constructed in a large indoor facility on assembly lines. These facilities use assembly line track in order to move the modules from one workstation to other. Independent building inspectors are present on site to supervise the construction and ensure that the building rules are adhered to throughout the assembling of all the modules. Once all the modules are assembled, they are indistinguishable from typical built homes.

Modular buildings are broadly classified into two types, which are again subdivided into number of categories. They are:

1. Residential Buildings: These are buildings used for residential purposes. They were first developed as low cost and speedy accommodation for military personnel during Second World War. Till today, the modular buildings manufactured are majority for housing purpose.

2. Commercial Buildings: These are used for commercial purposes like shops, offices, businesses, etc. This use of modular buildings is growing rapidly.

The buildings have a wide range of uses like camps, schools, classrooms, civil and military housing requirements, churches, health care facilities, supermarkets, sales and retail offices, fast food restaurants, ship construction, offices, etc. They can be used for either temporary or permanent facilities, and also they are the perfect solution in remote and rural areas where conventional construction is not possible.

The modular technology was primarily invented for single room buildings like telephone booths, ticket counters, security outposts, check posts, etc. After the success of these single room buildings, this technology got extended to larger buildings. There are many advantages of opting for modular buildings which are as follows:

It is very cost effective and affordable in comparison to other constructions. When these buildings are done well, the efficiency of the manufacturer is converted into a better product at a very low cost.

They are a great amalgamation of factory-production techniques, engineering know-how and design.

These buildings are built efficiently and with a greater quality control.

From the year 2000, the demand for modular buildings has increased by 35%. According to a recent study carried on by National Association of Home Builders whose members are primarily stick builders, many Americans today are considering taking advantage of the modular buildings because of its lower cost and higher quality.

I bought 5 wooded and hilly acres of land three years ago with the intention of having a house built on it. I was clearing the trees by hand for the driveway, building site and septic system drain field. This gave me a year to investigate the costs, types of construction, contractors and other things that I would need before getting to the construction stage of the project. This article is a summary of the things I learned during that year that led me to the decision to build a modular home.

I was unsure whether I was going to have a house built on site or have a modular home set in pieces on the foundation.

The first two obstacles to a modular home were: modular homes may not be allowed in my city and was it possible to get a modular home to this building site. If not, the decision was made for me. After checking with the local building inspectors, I found out that modular homes are allowed in this area. Next I contacted three different modular home builders in my area and had them visit my building site to find out if a modular home could be delivered to this site and if so, what was the largest size that could be delivered. From them, I learned that it was possible to deliver a home to this site and the maximum size that could be delivered.

Now I had to decide the method of construction. Initially, I had concerns about modular homes when it came to financing, quality and looks. First I checked with lenders in my area and found that I would be able to finance a modular home in the same fashion as a site built home. Next I needed to learn more about the quality and look of modular homes. I guess I had heard all the stories about them being glorified trailers. After looking at homes built by about 10 different modular home builders, I found that my concerns were warranted with a couple of builders, but not most.

In the end, I chose to go with a modular home. Here are the reasons why:

1. Quality and cost – most modular home builders offer a quality home with built in efficiencies. The home meets local building codes; has 2″ x 6″ exterior walls; uses sheets of flooring material larger than is possible on a site built home (meaning fewer seams); has numerous quality checks throughout the building process; walls are glued, screwed and strapped; interior walls are made with 5/8″ sheetrock; a variety of options for the exterior of the home; and the home is very well insulated. After two years in the home, my utility bills are about the same as my condo which was 30% smaller and surrounded by other units on two sides.

2. Customization – I learned that you can customize your modular home just as with a site built home. You can either choose an available floor plan or customize them for the cost of the engineering fees. I went with the mirror image of an available floor plan.

3. Fewer contractors to manage. Since I was acting as the general contractor, I was concerned with the time to get bids, check out the work of contractors as well as schedule all the necessary work. By choosing to build a modular home, I would only need an excavation company to build our driveway and dig the hole for our basement, a surveyor to layout the site for the foundation, someone to pour the foundation and do the flatwork, a plumber and an electrician.

4. Speed of construction. My modular home was going to be built so fast (2 weeks) that I had to have all of my contractors chosen and scheduled when I placed the order for the home.

5. Cost – Due to the efficiencies of building modular homes there is a cost savings involved. It is hard to give a percentage savings. This would vary depending on the costs which are the same no matter how the house is built. There are many costs that are the same with either a modular or site built home – land, foundation, utilities to home, driveway, sewage hookup or septic system. With this said, there was definitely a cost savings for me to go with a modular home. I needed this savings, because my building site required extensive excavation costs to cross two creeks and modify the grade of a hill with 75 dump truck loads of rock.

After living in the home for two years, I feel I made the right decision. My wife and I are enjoying our house tucked back in the woods and have had only one issue with the home. Shortly after moving into the home there was a plumbing leak. We had a local plumber fix the problem and our builder quickly reimbursed us for the repair.

What is a modular home? If you still think of boxy mobile homes, not so. Today’s modular residences look like conventional built homes and range from cottages to mansions. Homes come in a wide range of sizes and you can find the home just right for your family. They are homes with roomy interiors that can go from traditional to contemporary and with custom interiors that can include; custom skylights, vaulted ceilings, an entertainment center, glamour bathtubs, fireplaces and custom cabinetry, crown molding, hardwood floors, columns, great rooms, custom windows and doors, your choice of appliances and cabinetry. In addition to interior flooring and carpeting, counter tops, tile, moldings and hardware, you also get to select the type and color of roofing shingles, exterior doors and windows. The dealer you purchase from will show all the features available to you.

Design options could very well be as varied and specific to the home buyer as site built homes. Today’s Modular Homes provide a wide assortment of house plans and home styles, including split level and two story housing to cape and ranch styles. If you are looking for a smaller cottage-style house or a sizable 3200 square foot house, modular homes could be designed to tailor to the wishes of your family.

Modular homes are much like conventional homes, except they are built in sections in a technology rich, quality controlled plant. Because the panels are produced inside, modular homes are not predisposed to inclement weather delays, therefore, weather does not create a “delay” and the work is completed faster and more efficiently. At the build site, the sections are affixed on a pre-set foundation and the construction of the building is completed on-site. This portion of the homes construction can ordinarily be completed in approximately 4-6 weeks.

As delays are rare, and there’s less building time required, prices per square foot for a modular home will be less than a on site constructed home. However, the largest value will possibly come when the house is completed. Because the modern modular house is so energy efficient, heating and cooling costs can certainly be greatly reduced because modular homes are more thoroughly insulated and quite airtight. Control over allergens, dust, humidity and outdoor noise is also superior.

The modular home business is expanding. Architectural enhancements and spacious interiors are some of the driving factors behind the annual growth in sales for the past five years. Modular homes are an increasingly popular housing choice, and appeal to all home buyers.

Modular homes can certainly be built on almost any lot and be as unequaled and elegant as any customarily built home.

IN SUMMARY:

Lower Cost: Modular homes are built in factories and take advantage of “volume” pricing. The assembly line process allows for maximum labor efficiency.

Quality Control: Modular homes are built in a controlled environment and engineered for trouble-free durability. Quality control is maintained by constant inspection throughout the construction process.

To insure a safe delivery of your home, modular homes are built exceptionally well, using high quality materials. Typically, 20%-30% more lumber is used in framing your home and most factories “glue” in addition to nailing or screwing the components of the home together.

Peace of Mind: Modular homes come at a guaranteed price.

Quicker Build Time: Modular homes are stick built, using the same components and techniques as site built homes, but in a controlled, indoor environment – there are no weather delays, and your home is not exposed to the elements during construction. Lower utility costs/higher resale value! as most are built today, using ENERGY STAR appliances and companies are building homes that optimize comfort and savings with features that include leading-edge heating systems, additional insulation, advanced air-infiltration preventions packages, high performance windows and more!

Choices: And lots of them! Carpeting, vinyl, ceramic tile, interior doors, counter-tops – any component in the home!

Functionality: Built with floor plans for today’s lifestyles – Ranches, two stories, Adobe and Santa Fe.

Modular homes – “out-of-the-box”.

Modular building offers you the chance to purchase a high quality home, customized to fit your tastes, lifestyle, and budget.

By setting the specifications, price, and building schedule for your individual home up front, you will avoid the endless delays, poor workmanship, and cost overruns faced by so many homebuyers who are building new homes with small independent conventional homebuilders.

For most of us, our home is the largest, single investment we will ever make. With a modular home purchase, you can set your modular home on your land anywhere in the US.

Once you have ordered your new modular home and have chosen all the features you wish to have, the company you purchased from will be in contact with you every step of the way throughout the building process. Once your home is delivered to your site, they will be there to insure that the rest of the development of lifting your home by crane onto your new foundation, getting utilities to the house, finishing any features you may have chosen for your elevation, including any special windows, basement, garage etc., and the roofing of your home.