Modular Home Misconceptions

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Don’t think that modular homes are boring. If that’s what you are thinking, then this article should change your mind.

First of all, a modular and manufactured home is not the same thing.

Manufactured homes are actually mobile homes. These are built piece by piece in an enclosed factory, designed to the specifications of the builder with various floor plans to choose from and many possibilities for a truly unique design.

There are different standards and codes for house-building. Manufactured homes have to conform to the same state and local codes as on site, traditionally constructed houses. These codes can be different in each state. Manufactured homes must conform only to the housing codes of HUD. Codes for modular homes are usually more thorough and involve energy efficient appliances and materials.

Manufactured homes are transported on a steel chassis, which will stay attached to thome, allowing it to be moved. Modular homes are transported in covered, weatherproof housing and built on-site on top of a poured foundation, just like a traditional home.

Modular homes have various customized design options and amenities. A manufactured home is only available in three design options which are usually single-wide, double-wide, and triple-wide.

Because modular homes are constructed on a foundation, lenders have the same views on these homes as they do traditional homes. Manufactured homes will appear under an automobile loan or under a separate lending category.

Is the building process shorter than traditional methods?

Depending on the manufacturer and the design, some modular houses can be built in the factory in as little as two weeks. Also, since the home is put together in a factory, there is never a delay due to weather. Once it is delivered to the building site, most of these modular homes can be assembled in two months or less.

Do all modular houses look alike?

Nope. Any innovative housing manufacturer will have hundreds of designs and floor plans that you can choose from. They can be altered to customize your new home. The simplest of modular homes have resembled manufactured homes, new construction and energy efficient green design and construction give the modular more design options and flexibility than before.

Will banks finance a modular home? Will it save me money?

In short, yes. You can ask your mortgage broker to explain how they finance modular homes in Ottawa. Most banks, insurance companies, and appraisers will treat modular homes the same way they do with site built homes-which is a house that is constructed entirely on your property. In some cases, especially if your home qualifies for the EPA Energy Star certification, you can save a lot of money by going the modular route.

 

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